The following is a summary of the Reinsurance Group of America, Incorporated (RGA) Q1 2024 Earnings Call Transcript:
Financial Performance:
RGA reported highest ever quarterly result with adjusted operating earnings of $6.02 per share.
The adjusted operating return on equity for the past 12 months was 14.8%, exceeding targets.
Earnings and return on equity were evenly driven by all regions and business types.
A record capital of $737 million was deployed into in-force transactions.
RGA reported a pretax adjusted operating income of $516 million for the quarter, with premiums up by 58.8%.
Business Progress:
RGA maintained the top rank on NMG Consulting's Global all respondents Business Capability Index for 13 consecutive years.
They closed an approx. $4.7 billion deal in Japan and anticipate significant growth across various business segments in 2024.
The company expects to deliver growth at attractive returns to shareholders in coming years.
They reported strong momentum in in-force activity as a leading indicator for future new business.
With a robust pipeline, RGA expects solid business growth globally. They are also maximizing capital efficiency for shareholders and have launched initiatives like Ruby Re for supporting business growth.
More details: Reinsurance Group of America IR
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