RGA Q4 2023 Earnings Report
Key Takeaways
Reinsurance Group of America reported a decrease in net income available to shareholders but an increase in adjusted operating income for the fourth quarter. Premium growth was strong, driven by a significant contribution from a pension risk transfer transaction. The company also deployed capital into in-force transactions and continued its share repurchase program.
Net income available to RGA shareholders decreased to $2.37 per diluted share from $4.30 in the prior-year quarter.
Adjusted operating income increased to $4.73 per diluted share from $4.60 in the prior-year quarter.
Premium growth was 19.2% year-over-year, or 18.7% on a constant currency basis, bolstered by a $500 million pension risk transfer transaction.
Capital deployment into in-force transactions reached $346 million for the quarter and $933 million for the year.
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RGA
Forward Guidance
RGA is optimistic about its future performance, expecting to continue delivering attractive financial results based on favorable business conditions and its global leadership position.
Positive Outlook
- Strong results in the Financial Solutions business across regions and product lines.
- Good momentum in organic business activity in the traditional business.
- Strong in-force transactions with $346 million of capital deployed in the quarter.
- Excess capital of approximately $1.0 billion.
- Favorable business conditions and RGA's global leadership position.