RGA Q1 2021 Earnings Report
Key Takeaways
Reinsurance Group of America reported first quarter net income of $139 million, or $2.03 per diluted share, compared with a net loss of $88 million, or $1.41 per diluted share, in the prior-year quarter. Adjusted operating loss totaled $84 million, or $1.24 per diluted share, compared with adjusted operating income of $89 million, or $1.41 per diluted share, the year before. First quarter results reflected approximately $474 million of estimated COVID-19 impacts.
Net income of $2.03 per diluted share
Adjusted operating loss of $1.24 per diluted share
Global estimated COVID-19 claim costs of approximately $485 million for the first quarter
Accounting correction for limited partnership investments had a favorable effect of approximately $1.87 per diluted share on net income and $1.07 per diluted share on adjusted operating loss
RGA
RGA
Forward Guidance
While we expect our results to continue to reflect additional COVID-19 claims, we expect that impact to diminish in the coming quarters, and believe that our strong financial condition and global business platform will deliver improved results as the year progresses.