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Jun 30, 2021
RGA Q2 2021 Earnings Report
Reinsurance Group of America reported strong second-quarter performance with broad-based earnings contribution and reduced COVID-19 impacts.
Key Takeaways
Reinsurance Group of America reported a strong second quarter with net income of $344 million, or $5.02 per diluted share, and adjusted operating income of $274 million, or $4.00 per diluted share. The company saw growth in net premiums and investment income, with a favorable impact from foreign currency fluctuations. The board increased the quarterly dividend by 4% to $0.73.
Net income of $5.02 per diluted share.
Adjusted operating income of $4.00 per diluted share.
Quarterly shareholder dividend raised 4% to $0.73.
Global estimated COVID-19 impacts of approximately $130 million for the second quarter.
RGA
RGA
RGA Revenue by Segment
RGA Revenue by Geographic Location
Revenue by Segment
Asia Pacific Financial Solutions Revenue
CapyFin.comRevenue by Geographic Location
Canada Revenue
CapyFin.comAsia Pacific Revenue
CapyFin.com Forward Guidance
RGA expects results to continue to reflect some additional COVID-19 claims, but at manageable and decreasing levels. The company expects its underlying earnings power to be sustained and to continue to deliver attractive financial results over time.
Positive Outlook
- Strong performance in the second quarter.
- Earnings contribution was broad-based by geography and lines of business.
- Impact of COVID-19 was significantly reduced.
- Investment results were very favorable.
- Balance sheet remains strong.
Challenges Ahead
- Expects results to continue to reflect some additional COVID-19 claims.
- Lower investment income affected pretax adjusted operating loss.
- COVID-19 claim costs affected U.S. and Latin America results.
- COVID-19 claim costs affected Canada results.
- COVID-19 claims affected Asia Pacific results.