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Reinsurance Group of America, Incorporated - RGA STOCK NEWS

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Reinsurance Group of America, Incorporated (NYSE: RGA) is a leading global life and health reinsurance company, with approximately $3.7 trillion of life reinsurance in force and assets of $97.6 billion as of December 31, 2023. Founded in 1973, RGA provides specialized solutions and expertise to help insurance companies manage risk and optimize capital. With operations in 27 countries including the United States, Canada, Europe, Asia, and Australia, RGA supports clients with a diverse range of products and services.

Business Lines: The company’s core business lines include individual life reinsurance, health reinsurance, long-term care reinsurance, group reinsurance, and financial solutions. RGA is a global leader in facultative underwriting, having processed nearly 5 million facultative cases since 1979. Additionally, RGA offers product development, risk management, e-underwriting solutions, and client training opportunities.

Recent Achievements and Partnerships: Recently, RGA announced a groundbreaking collaboration with LIBRA Insurance Partners and DigitalOwl. This partnership leverages DigitalOwl's AI technology to enhance RGA’s facultative underwriting program, significantly improving the efficiency of the life insurance case submission process. Another major milestone is a $5.8 billion reinsurance deal with Manulife Financial Corporation, marking the largest Universal Life reinsurance transaction in Canada's insurance industry.

Financial Condition: RGA remains financially robust with a substantial asset base and a significant volume of life reinsurance in force. The company’s solid financial foundation enables it to engage in large-scale transactions and forge strategic partnerships.

Global Reach and Impact: With operations spanning across continents, RGA is dedicated to making financial protection accessible globally. The company’s relentless pursuit of innovation and client-focused approach positions it as a trusted partner in the reinsurance industry.

To learn more about Reinsurance Group of America, Incorporated, visit www.rgare.com or follow RGA on LinkedIn and Facebook.

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Reinsurance Group of America (RGA) reported a strong third quarter with net income of $284 million, or $4.19 per diluted share, a significant improvement from a $22 million loss a year ago. Adjusted operating income reached $352 million, or $5.20 per diluted share. Premium growth was 4.9% year-over-year, with a robust 10.1% growth on a constant currency basis. The company returned $79 million to shareholders through dividends and share repurchases. Despite an estimated $89 million COVID-19 impact, the balance sheet remains strong with $1.3 billion in excess capital.

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AM Best has affirmed the Financial Strength Rating of A+ (Superior) and the Long-Term Issuer Credit Ratings of RGA Reinsurance Company and its subsidiaries, with a stable outlook. RGA's balance sheet strength is assessed as very strong, maintained by a robust capital structure despite COVID-19 impacts. The company experienced a 7% increase in overall net premiums in 2021, supported by its international operations. However, earnings volatility persists in certain segments due to pandemic-related mortality increases, although recent trends indicate improvement.

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Reinsurance Group of America (RGA) is revising its dial-in details for the third quarter earnings conference call, scheduled for 10 a.m. ET on November 4, 2022. Participants can join by calling 1-877-270-2148 or 412-902-6510 internationally, approximately 15 minutes early. A live audio webcast will be available via RGA's Investors page, with a replay available for 90 days post-call. RGA specializes in life and health reinsurance, managing risks effectively, with approximately $3.4 trillion in reinsurance in force and $84.6 billion in assets as of June 30, 2022.

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Reinsurance Group of America (RGA) will release its third quarter earnings on November 3 at 4:15 p.m. Eastern Time. A conference call to discuss the results is scheduled for November 4 at 10 a.m. Eastern Time. Dial-in details include 1-888-204-4368 (international 323-994-2093) with an access code of 9502707. RGA is a global leader in life and health reinsurance with approximately $3.4 trillion in life reinsurance in force and assets of $84.6 billion as of June 30, 2022.

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Reinsurance Group of America, Incorporated (NYSE: RGA) announced that its cash tender offer for all outstanding 6.20% Fixed-to-Floating Rate Subordinated Debentures due 2042 expired on September 22, 2022. A total of $151,048,375, or 37.76%, of the $400 million principal amount was validly tendered. The company plans to make payments on September 23, 2022, and September 27, 2022, for Debentures tendered through guaranteed delivery. The Offer will be funded from the proceeds of the upcoming sale of 7.125% Fixed-Rate Reset Subordinated Debentures due 2052.

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Reinsurance Group of America (NYSE: RGA) has priced $700 million in 7.125% fixed-rate reset subordinated debentures due in 2052. The offering, managed by major banks, has an issue price of $25 per debenture and features a quarterly interest payment starting September 23, 2022. Proceeds will be used to repurchase $400 million of its 6.20% subordinated debentures due 2042, along with related expenses. The offering is contingent on the completion of a cash tender offer and is conducted under a previously filed SEC registration statement.

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Reinsurance Group of America (NYSE: RGA) has launched a cash tender offer for its outstanding 6.20% Fixed-to-Floating Rate Subordinated Debentures due 2042, amounting to $400 million. The offer, which expires on September 22, 2022, provides a tender consideration of $25.20 per $25 principal amount. The company plans to make payments on September 23, 2022, and holders can also utilize a Notice of Guaranteed Delivery until September 26, 2022. Importantly, the offer is contingent upon RGA's successful completion of a new subordinated debenture offering, without any minimum tender requirement.

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Reinsurance Group of America, Incorporated (NYSE: RGA) announced the retirement of Board Chair J. Cliff Eason, effective December 31, 2022. Stephen T. O’Hearn, a current board member, will take over as Chair starting January 1, 2023. Eason has served on the board since RGA's IPO in May 1993 and has been Chair since 2008. O’Hearn, who joined the board in 2020, brings extensive experience from PwC where he was the Global Leader of the Insurance Practice. The transition aims to maintain strong leadership as RGA continues to grow in the reinsurance market.

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Reinsurance Group of America reported a second quarter net income of $198 million, or $2.92 per diluted share, down from $344 million or $5.02 last year. Adjusted operating income increased to $391 million, or $5.78 per diluted share. Net premiums grew 4.3% year-over-year to $3.2 billion. The company deployed $121 million in transactions and raised its dividend by 9.6% to $0.80 per share. The estimated COVID-19 impact was approximately $11 million, reducing earnings by $0.12 per share. The effective tax rate for the quarter was 22.1%.

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FAQ

What is the current stock price of Reinsurance Group of America, Incorporated (RGA)?

The current stock price of Reinsurance Group of America, Incorporated (RGA) is $207.54 as of December 20, 2024.

What is the market cap of Reinsurance Group of America, Incorporated (RGA)?

The market cap of Reinsurance Group of America, Incorporated (RGA) is approximately 13.5B.

What does Reinsurance Group of America, Incorporated do?

RGA provides life and health reinsurance solutions, offering products such as individual life reinsurance, group reinsurance, financial solutions, and more.

Which are the main business lines of RGA?

RGA’s core business lines include individual life reinsurance, health reinsurance, long-term care reinsurance, group reinsurance, and financial solutions.

What are some notable recent achievements of RGA?

Recent achievements include a collaboration with LIBRA Insurance Partners and DigitalOwl to enhance underwriting efficiency and a $5.8 billion reinsurance deal with Manulife Financial Corporation.

How financially strong is RGA?

RGA is financially robust with approximately $3.7 trillion of life reinsurance in force and assets of $97.6 billion as of December 31, 2023.

In how many countries does RGA operate?

RGA operates in 27 countries, including the United States, Canada, Europe, Asia, and Australia.

What is RGA's expertise in facultative underwriting?

RGA is a global leader in facultative underwriting, having processed nearly 5 million facultative cases since 1979.

What types of solutions does RGA offer beyond reinsurance?

Beyond reinsurance, RGA offers product development, risk management, e-underwriting solutions, and client training opportunities.

Where can I learn more about RGA?

For more information, visit RGA's official website at www.rgare.com or follow them on LinkedIn and Facebook.

Who are some of RGA's recent partners?

Recent partners include LIBRA Insurance Partners and DigitalOwl.

What purpose drives RGA's operations?

RGA is guided by the purpose of making financial protection accessible to all through innovation, execution, and client focus.

Reinsurance Group of America, Incorporated

NYSE:RGA

RGA Rankings

RGA Stock Data

13.48B
65.56M
0.41%
97.35%
0.41%
Insurance - Reinsurance
Life Insurance
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United States of America
CHESTERFIELD