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Mar 31, 2023
RGA Q1 2023 Earnings Report
RGA reported a strong first quarter with significant premium growth and solid profitability.
Key Takeaways
Reinsurance Group of America reported a strong first quarter with net income available to RGA shareholders of $252 million, or $3.72 per diluted share, and adjusted operating income of $349 million, or $5.16 per diluted share. Premium growth was 7.3% over the prior-year quarter, and 10.8% on a constant currency basis.
Net income available to RGA shareholders was $3.72 per diluted share, including adverse foreign currency effects of $0.14 per diluted share.
Adjusted operating income was $5.16 per diluted share, including adverse foreign currency effects of $0.18 per diluted share.
Premium growth was 7.3% over the prior-year quarter, 10.8% on a constant currency basis.
ROE of 7.8%, adjusted operating ROE of 11.2%, and adjusted operating ROE excluding notable items of 13.1% for the trailing twelve months.
Revenue by Geographic Location
Forward Guidance
RGA is delivering on its strategy, its balance sheet remains strong, and the company is well-positioned to add to this positive momentum going forward.
Positive Outlook
- Many regions and product lines performed very well.
- RGA had another active quarter for in-force and other transactions, including their first U.S. PRT transaction.
- The company is delivering on its strategy.
- The balance sheet remains strong.
- RGA is well-positioned to add to this positive momentum going forward.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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