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Dec 31, 2021
RGA Q4 2021 Earnings Report
Reported fourth quarter and full year results with net income of $2.30 per diluted share and adjusted operating loss of $0.56 per diluted share.
Key Takeaways
Reinsurance Group of America reported fourth quarter net income of $156 million, or $2.30 per diluted share, compared with net income of $132 million, or $1.94 per diluted share, in the prior-year quarter. Adjusted operating loss totaled $38 million, or $0.56 per diluted share, compared with adjusted operating income of $81 million, or $1.19 per diluted share, the year before.
Net income of $2.30 per diluted share
Adjusted operating loss of $0.56 per diluted share
Premium growth of 4.5% over the prior-year quarter
Deployed capital of $106 million into transactions
RGA
RGA
RGA Revenue by Geographic Location
Revenue by Geographic Location
Canada Revenue
CapyFin.comAsia Pacific Revenue
CapyFin.com Forward Guidance
Our fourth quarter was impacted by a meaningful level of COVID-19 mortality claims. Beyond the effect of COVID-19, our results were strong, as a number of our businesses performed well. We continue to see good new business activity both in our organic business and in the pipeline for in-force transactions.
Positive Outlook
- See good new business activity both in our organic business
- See good new business activity in the pipeline for in-force transactions
- Deployed $106 million into in-force transactions
- Repurchased $50 million of common shares
- Balance sheet remains strong
Challenges Ahead
- Fourth quarter was impacted by a meaningful level of COVID-19 mortality claims.
- Quarterly results reflected total segment COVID-19 claim costs of approximately $276 million in US and Latin America
- Quarterly results reflected unfavorable individual life mortality experience, including COVID-19 claim costs of $10 million in Canada
- Quarterly results reflected approximately $61 million of COVID-19 claim costs in EMEA
- Quarterly results reflected favorable underwriting experience, absorbing $4 million of COVID-19 claim costs in Asia Pacific
Revenue & Expenses
Visualization of income flow from segment revenue to net income