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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.
Revenue by Segment
Revenue by Geographic Location
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.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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