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RGA — Reinsurance of America, Incorporated News Story

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Reinsurance Group of America Q3 net income rises

Overview

RGA Q3 adjusted operating income rises, achieving a quarterly record, excluding notable items

Net income for Q3 increases to $253 mln from $156 mln year-over-year

Company repurchased $75 mln of common shares in Q3

Outlook

RGA has estimated deployable capital of $3.4 bln for growth and shareholder returns

Company sees attractive pipeline, heavily weighted toward exclusive opportunities

RGA expects to continue delivering strong financial results

Result Drivers

ASIA AND EMEA PERFORMANCE - Strong results in Asia Traditional and EMEA contributed to record operating income

EQUITABLE TRANSACTION - Earnings boosted by the Equitable transaction completed in Q3

CAPITAL DEPLOYMENT - $1.7 bln deployed into in-force transactions, including $1.5 bln with Equitable Holdings

Key Details

MetricBeat/MissActualConsensus Estimate
Q3 EPS$3.81
Q3 Net Income$253 mln
Q3 Adjusted Operating Income$310 mln
Q3 Adjusted ROE13.2%
Q3 ROE7.4%
Analyst Coverage The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 7 "strong buy" or "buy", 3 "hold" and 1 "sell" or "strong sell" The average consensus recommendation for the reinsurance peer group is "buy" Wall Street's median 12-month price target for Reinsurance Group of America Inc is $241.00, about 21.3% above its October 29 closing price of $189.61 Press Release: ID:nBw6Y47QZa For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact RefinitivNewsSupport@thomsonreuters.com. (This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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