Reinsurance Group of America Reports Third Quarter Results
- Net income available to RGA shareholders of $4.29 per diluted share
- Adjusted operating income* of $5.57 per diluted share
- Premium growth of 31.0% over the prior-year quarter, 30.6% on a constant currency basis1
- Premium growth of 14.0% year-to-date, 15.5% on a constant currency basis1
- ROE of 13.9%, adjusted operating ROE* of 14.7%, and adjusted operating ROE excluding notable items*2 of 14.0% for the trailing twelve months
- Deployed capital of $203 million into in-force and other transactions, $587 million year-to-date
- Total shareholder capital returns of $106 million: $50 million of share repurchases and $56 million of shareholder dividends
1 Actual amounts reflect impact of currency fluctuations. Constant currency amounts reflect foreign denominated activity translated to U.S. dollars at a constant exchange rate.
2 RGA completed its annual actuarial assumption review related to business, subject to Long-Duration Targeted Improvements (LDTI), during the third quarter. The impact from the actuarial assumption review is reflected in the results as notable items.
ST. LOUIS, Nov. 2, 2023 - Reinsurance Group of America, Incorporated (NYSE: RGA), a leading global provider of life and health reinsurance, reported third quarter net income available to RGA shareholders of $287 million, or $4.29 per diluted share, compared with a net loss available to RGA shareholders of $76 million, or $1.13 per diluted share, in the prior-year quarter. Adjusted operating income* for the third quarter totaled $372 million, or $5.57 per diluted share, compared with $16 million, or $0.24 per diluted share, the year before. Adjusted operating income, excluding notable items for the third quarter, totaled $372 million, or $5.57 per diluted share, compared with $263 million, or $3.92 per diluted share, the year before. Net foreign currency fluctuations had a favorable effect of $0.03 per diluted share on net income available to RGA shareholders, and $0.01 per diluted share on adjusted operating income as compared with the prior year.