Reinsurance Group of America Reports Fourth Quarter and Full Year Results
Fourth Quarter Results
- Net income available to RGA shareholders of $2.37 per diluted share
- Adjusted operating income* of $4.73 per diluted share
- Premium growth of 19.2% over the prior-year quarter, 18.7% on a constant currency basis1
- Deployed capital of $346 million into in-force transactions
- Total shareholder capital returns of $106 million: $50 million of share repurchases and $56 million of shareholder dividends
Full Year Results
- Net income available to RGA shareholders of $13.44 per diluted share
- Adjusted operating income* of $19.88 per diluted share
- Premium growth of 15.3% over the prior year, 16.3% on a constant currency basis1
- ROE of 11.4%, adjusted operating ROE* of 14.5%, and adjusted operating ROE, excluding notable items*2 of 14.4% for the trailing twelve months
- Deployed capital of $933 million into in-force transactions
- Total shareholder capital returns of $419 million: $200 million of share repurchases and $219 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, Feb. 1, 2024 - Reinsurance Group of America, Incorporated (NYSE: RGA), a leading global provider of life and health reinsurance, reported fourth quarter net income available to RGA shareholders of $158 million, or $2.37 per diluted share, compared with $291 million, or $4.30 per diluted share, in the prior-year quarter. Adjusted operating income* for the fourth quarter totaled $316 million, or $4.73 per diluted share, compared with $312 million, or $4.60 per diluted share, the year before. Adjusted operating income, excluding notable items* for the fourth quarter, totaled $316 million, or $4.73 per diluted share, compared with $266 million, or $3.91 per diluted share, the year before. Net foreign currency fluctuations had an adverse effect of $0.01 per diluted share on net income available to RGA shareholders, and a favorable effect of $0.04 per diluted share on adjusted operating income as compared with the prior year.