Reinsurance Group of America Reports Third-Quarter Results
- Earnings per diluted share: operating income* $1.90, net income $1.25
- Operating ROE* 11 percent, trailing 12 months
- Expiration of Active Financing Exception (AFE) and strengthening U.S. dollar each reduced operating EPS* by $0.15
- Continuing strong results in Global Financial Solutions (GFS) and overall favorable claims experience in Canada and international operations
- U.S. Traditional hampered by unusually high claims in older issue-age policies
- Reported net premiums decreased 4 percent; up 8 percent net of foreign currency and the effect of fourth-quarter 2014 retrocession transaction
- Repurchased approximately 782,000 shares for $71 million during the quarter
ST. LOUIS, October 29, 2015 – Reinsurance Group of America, Incorporated (NYSE: RGA), a leading global provider of life reinsurance, reported operating income* of $127.1 million, or $1.90 per diluted share, compared with $159.8 million, or $2.31 per diluted share, in the prior-year quarter. Net income totaled $83.5 million, or $1.25 per diluted share, compared with $158.0 million, or $2.28 per diluted share, the year before. In addition to the effects on operating income noted above, the significant decrease in current-period net income reflected net investment related losses, including the change in fair value of certain stand-alone and embedded derivatives.