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Dec 31, 2019
RGA Q4 2019 Earnings Report
Reported fourth quarter results with net income of $235 million and adjusted operating income of $219 million.
Key Takeaways
Reinsurance Group of America reported Q4 net income of $235 million, or $3.68 per diluted share, compared to $110 million, or $1.72 per diluted share, in the prior-year quarter. Adjusted operating income totaled $219 million, or $3.43 per diluted share, compared to $222 million, or $3.46 per diluted share, the year before.
Net income was $235 million, or $3.68 per diluted share.
Adjusted operating income was $219 million, or $3.43 per diluted share.
Consolidated net premiums totaled $3.0 billion, up 6% from last year’s fourth quarter.
Deployed capital of $78 million into in-force and other transactions in the quarter.
RGA
RGA
RGA Revenue by Segment
Revenue by Segment
US & Latin America Traditional Revenue
CapyFin.comCanada Traditional Revenue
CapyFin.comEMEA Traditional Revenue
CapyFin.comAsia Pacific Traditional Revenue
CapyFin.comAsia Pacific Financial Solutions Revenue
CapyFin.com Forward Guidance
RGA expects growth in adjusted operating earnings per share in the 5% to 8% range, and adjusted operating return on equity of 10% to 12%.
Positive Outlook
- Targeting growth in adjusted operating earnings per share in the 5% to 8% range.
- Targeting adjusted operating return on equity of 10% to 12%.
- Presuming no significant changes in the investment environment from current levels.
- Planning to deploy $300 to $400 million of excess capital, on average, annually.
- Estimating effective tax rate on adjusted operating income will be approximately 23% to 24%.
Challenges Ahead
- Subject to inherent short-term volatility due to mortality and morbidity experience.
- Guidance ranges are based upon “normalized” results.
- Assumes no significant changes in the investment environment.
- Business is subject to risks and uncertainties.
- Future events and actual results could differ materially from those contemplated.
Revenue & Expenses
Visualization of income flow from segment revenue to net income