Reinsurance Group Of America ( ($RGA) ) has released its Q3 earnings. Here is a breakdown of the information Reinsurance Group Of America presented to its investors.
Reinsurance Group of America, Incorporated (RGA) is a prominent global provider of life and health reinsurance, specializing in financial solutions to help clients manage risk and optimize capital. Known for its innovative approach, RGA is a leader in the reinsurance industry, offering services that contribute to financial protection worldwide.
In its latest earnings report, RGA announced record-breaking results for the third quarter, highlighting a net income available to shareholders of $2.33 per diluted share and an adjusted operating income of $3.62 per diluted share. The company also reported a record adjusted operating income excluding notable items of $6.13 per diluted share, along with strong performance in various business segments, including Asia Traditional and U.S. Traditional.
The company deployed $382 million into in-force block transactions, and it saw a 13.9% increase in the value of in-force business margins over the first nine months of the year. Despite a decrease in net income compared to the previous year, RGA’s adjusted operating income, excluding notable items, showed significant growth. The company’s balance sheet remains robust, with excess capital of approximately $0.7 billion, and net premiums increased by 3.2% compared to the previous year.
Additionally, RGA completed a notable actuarial assumption review, leading to financial adjustments that are expected to enhance long-term value. The company is optimistic about its future outlook, expecting to maintain its global leadership position and deliver attractive financial results over time.
Looking forward, RGA’s management remains confident in the company’s ability to create long-term value for its shareholders, driven by favorable business conditions and strategic initiatives poised to capitalize on its market leadership.
