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Reinsurance Group Of America Incorporated  (RGA)
Other Ticker:  
 
    Sector  Financial    Industry Life Insurance
   Industry Life Insurance
   Sector  Financial
 
Price: $190.0400 $1.26 0.667%
Day's High: $190.84 Week Perf: 5.49 %
Day's Low: $ 189.10 30 Day Perf: 2.15 %
Volume (M): 265 52 Wk High: $ 196.25
Volume (M$): $ 50,323 52 Wk Avg: $156.37
Open: $189.30 52 Wk Low: $133.13



 Market Capitalization (Millions $) 12,754
 Shares Outstanding (Millions) 67
 Employees 2,201
 Revenues (TTM) (Millions $) 18,567
 Net Income (TTM) (Millions $) 909
 Cash Flow (TTM) (Millions $) 43
 Capital Exp. (TTM) (Millions $) 20

Reinsurance Group Of America Incorporated

Reinsurance Group of America, Incorporated (“RGA”) is an insurance holding company that was formed on December 31, 1992. The consolidated financial statements herein include the assets, liabilities, and results of operations of RGA and its subsidiaries, all of which are wholly owned (collectively, the “Company”).
The Company has grown to become a leading global provider of traditional and non-traditional life and health reinsurance with operations in the United States, Latin America, Canada, Europe, Africa, Asia and Australia. Reinsurance is an arrangement under which an insurance company, the “reinsurer,” agrees to indemnify another insurance company, the “ceding company,” for all or a portion of the insurance and/or investment risks underwritten by the ceding company. Reinsurance is designed to (i) reduce the net amount at risk on individual risks, thereby enabling the ceding company to increase the volume of business it can underwrite, as well as increase the maximum risk it can underwrite on a single risk; (ii) stabilize operating results by leveling fluctuations in the ceding company’s loss experience; (iii) assist the ceding company in meeting applicable regulatory requirements; and (iv) enhance the ceding company’s financial strength and surplus position.

The Company has geographic-based and business-based operational segments: U.S. and Latin America; Canada; Europe, Middle East and Africa; Asia Pacific; and Corporate and Other. Geographic-based operations are further segmented into traditional and non-traditional businesses. The Company’s segments primarily write reinsurance business that is wholly or partially retained in one or more of RGA’s reinsurance subsidiaries.

RGA is an insurance holding company, the principal assets of which consist of the common stock of Reinsurance Company of Missouri, Incorporated (“RCM”), RGA Americas Reinsurance Company, Ltd. (“RGA Americas”), RGA Reinsurance Company (Barbados) Ltd. (“RGA Barbados”), RGA International Reinsurance Company Limited (“RGA International”) and RGA Reinsurance Company of Australia Limited ("RGA Australia") as well as several other subsidiaries, all of which are wholly owned. Potential sources of funds for RGA to pay stockholder dividends and to fund debt service obligations are dividends and interest paid to RGA by its subsidiaries, securities maintained in its investment portfolio, and proceeds from securities offerings and borrowings. RCM’s primary sources of funds are dividend distributions paid by its subsidiary, RGA Reinsurance Company (“RGA Reinsurance”), whose principal source of funds is derived from current operations. RGA Americas’ primary sources of funds are dividend distributions paid by its subsidiaries, RGA Life Reinsurance Company of Canada (“RGA Canada”), RGA Atlantic Reinsurance Company Ltd. (“RGA Atlantic”) and RGA Reinsurance Company of South Africa, Limited ("RGA South Africa"), whose principal source of funds is derived from current operations. Dividends paid by RGA’s reinsurance subsidiaries are subject to regulatory restrictions of the respective governing bodies where each reinsurance subsidiary is domiciled.

Traditional Reinsurance
Traditional reinsurance includes individual and group life and health, disability, and critical illness reinsurance. Life reinsurance primarily refers to reinsurance of individual or group-issued term, whole life, universal life, and joint and last survivor insurance policies. Health and disability reinsurance primarily refers to reinsurance of individual or group health policies. Critical illness reinsurance provides a benefit in the event of the diagnosis of a pre-defined critical illness.


Traditional reinsurance is written on a facultative or automatic treaty basis. Facultative reinsurance is individually underwritten by the reinsurer for each policy to be reinsured, with the pricing and other terms established based upon rates negotiated in advance. Facultative reinsurance is normally purchased by ceding companies for medically impaired lives, unusual risks, or liabilities in excess of the binding limits specified in their automatic reinsurance treaties.


An automatic reinsurance treaty provides that the ceding company will cede risks to a reinsurer on specified blocks of policies where the underlying policies meet the ceding company’s underwriting criteria. In contrast to facultative reinsurance, the reinsurer does not approve each individual policy being reinsured. Automatic reinsurance treaties generally provide that the reinsurer will be liable for a portion of the risk associated with the specified policies written by the ceding company. Automatic reinsurance treaties specify the ceding company’s binding limit, which is the maximum amount of risk on a given life that can be ceded automatically to the reinsurer and that the reinsurer must accept. The binding limit may be stated either as a multiple of the ceding company’s retention or as a stated dollar amount.


Facultative and automatic reinsurance may be written as yearly renewable term, coinsurance, modified coinsurance or coinsurance with funds withheld. Under a yearly renewable term treaty, the reinsurer assumes primarily the mortality or morbidity risk. Under a coinsurance arrangement, depending upon the terms of the contract, the reinsurer may share in the risk of loss due to mortality or morbidity, lapses, and the investment risk, if any, inherent in the underlying policy. Modified coinsurance and coinsurance with funds withheld differs from coinsurance in that the assets supporting the reserves are retained by the ceding company.


Generally, the amount of life and health reinsurance ceded is stated on an excess or a quota share basis. Reinsurance on an excess basis covers amounts in excess of an agreed-upon retention limit. Retention limits vary by ceding company and also may vary by the age or underwriting classification of the insured, the product, and other factors. Under quota share reinsurance, the ceding company states its retention in terms of a fixed percentage of the risk with the remainder to be ceded to one or more reinsurers up to the maximum binding limit.


Reinsurance agreements, whether facultative or automatic, may include recapture rights, which permit the ceding company to reassume all or a portion of the risk formerly ceded to the reinsurer after an agreed-upon period of time (generally 10 years) or in some cases due to changes in the financial condition or ratings of the reinsurer. Recapture of business previously ceded does not affect premiums ceded prior to the recapture of such business, but would reduce premiums in subsequent periods. The potential adverse effects of recapture rights are mitigated by the following factors: (i) recapture rights vary by treaty and the risk of recapture is a factor that is considered when pricing a reinsurance agreement; (ii) ceding companies generally may exercise their recapture rights only to the extent they have increased their retention limits for the reinsured policies; and (iii) ceding companies generally must recapture all of the policies eligible for recapture under the agreement in a particular year if any are recaptured (which prevents a ceding company from recapturing only the most profitable policies). In addition, when a ceding company recaptures reinsured policies, the reinsurer releases the reserves it maintained to support the recaptured portion of the policies.

Non-Traditional Reinsurance
Non-traditional reinsurance includes longevity reinsurance, asset-intensive reinsurance, and financial reinsurance.

Longevity Reinsurance


In many countries, companies are increasingly interested in reducing their exposure to longevity risk related to the retirement benefits promised to staff. This concern comes from both the absolute size of the risk and also through the volatility that changes in life expectancy can have on their reported earnings. In addition, insurance companies that offer lifetime annuities are seeking ways to manage their current exposure, while also recognizing the potential to take on more risk from employers and individuals.


The Company has entered into transactions on existing longevity business for clients in Europe and Canada. These have been arrangements with traditional insurance companies, as well as customized arrangements for banks dealing with pension schemes. In addition, the Company has acquired a closed block of longevity business in the U.S.

Asset-Intensive Reinsurance
Asset-intensive reinsurance refers to the full-risk coinsurance of annuities or reinsurance that has a significant investment component. Asset-intensive reinsurance allows the Company’s clients to take advantage of growth opportunities that might otherwise not be available due to restrictions on available capital or concerns about the size of the investment risk on their balance sheets.


An ongoing partnership with clients is important with asset-intensive reinsurance because of the active management involved in this type of reinsurance. This active management includes investment decisions, investment and claims management, and the determination of non-guaranteed elements. Some examples of the reinsurance offered by asset-intensive reinsurance are: fixed deferred annuities, indexed annuities, unit-linked variable annuities, universal life corporate-owned life insurance and bank-owned life insurance, unit-linked variable life, immediate/payout annuities, whole life, disabled life reserves, and extended term insurance.

Financial Reinsurance
Financial reinsurance primarily involves assisting ceding companies in meeting applicable regulatory requirements by enhancing the ceding companies’ financial strength and regulatory surplus position. Financial reinsurance transactions do not qualify as reinsurance under U.S. generally accepted accounting principles (“GAAP”), due to the low-risk nature of the transactions. These transactions are reported in accordance with deposit accounting guidelines.



   


Customers Net Income fell by RGA's Customers Net Profit Margin fell to

-66.6 %

1.07 %

• Customers Performance • Customers Expend. • Customers Efficiency • List of Customers


   

Stock Performances by Major Competitors

5 Days Decrease / Increase
     
GNW        5.35% 
AIG        3.24% 
CI        1.9% 
EG        3.23% 
MKL        3.58% 
MMC        2.07% 
• View Complete Report
   



Contract

RGA Canada and Manulife Seal Historic CA$5.8 Billion Coinsurance Deal; Reinsurance Group of America Outperforms Competitors in Revenue Growth and Profitability

Published Mon, Mar 25 2024 1:00 PM UTC

In a groundbreaking move within the Canadian insurance market, RGA Canada, a subsidiary of Reinsurance Group of America (RGA), and Manulife, a leading financial services group, have announced the successful completion of a record-breaking CA$5.8 billion coinsurance transaction. The deal, considered the largest universal life reinsurance agreement in Canada to date, is expect...

Product Service News

In an exciting development in the longevity space, Reinsurance Group of America, Incorporated (NYSE: RGA), a global leader in life and health reinsurance, has reached an agreement with Japan Post Insurance Company (Kampo) to reinsure an in-force block of individual life annuities. This landmark transaction involving one of Japan's top providers of life annuities is valued at approximately 700 bi...

Published Fri, Mar 22 2024 11:00 AM UTC

700 Billion JPY Longevity Asset-Intensive Reinsurance Transaction Announced by RGA in Collaboration with Japan Post Insurance CompanyIn an exciting development in the longevity space, Reinsurance Group of America, Incorporated (NYSE: RGA), a global leader in life and health reinsurance, has reached an agreement with Japan Post Insurance Company (Kampo) to reinsure an in-forc...

Product Service News

Legal & General Retirement America and RGA Complete $700 Million Pension Risk Transfer Deal with FirstEnergy, Solidifying Position as Industry Leaders

Published Thu, Mar 14 2024 1:30 PM UTC

Legal & General Retirement America (LGRA) and Reinsurance Group of America (RGA) have announced the completion of a significant pension risk transfer (PRT) transaction with FirstEnergy, one of the largest investor-owned electric utilities in the United States. The transaction, valued at approximately $700 million, involved the transfer of pension obligations for around 2,000...

Business Update

Reinsurance Group of America Executes 900 Million Asset-Intensive Reinsurance Transaction in Belgium

Published Thu, Feb 1 2024 2:00 PM UTC

Reinsurance Group of America (RGA) recently announced its successful execution of an asset-intensive reinsurance transaction in Continental Europe with Baloise Belgium, a leading insurer in Belgium. This transaction involves a substantial portfolio comprising approximately 57,000 individual life insurance policies, boasting guaranteed minimum returns and total reserves amoun...

Contract

Reinsurance Group of America Launches Ruby Reinsurance Company and Demonstrates Promising Revenue Growth

Published Wed, Dec 6 2023 2:15 PM UTC


Reinsurance Group of America Launches Ruby Reinsurance Company and Reports Positive Revenue Growth
Reinsurance Group of America, Incorporated (RGA) has announced the launch of Ruby Reinsurance Company (Ruby Re), a third-party life reinsurance firm targeting U.S. asset-intensive business. RGA, a leading global life and health reinsurer, has successfully closed its fi...






 

Reinsurance Group Of America Incorporated's Segments
 
 
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  Company Estimates  
  Revenue Outlook
Reinsurance Group Of America Incorporated does not provide revenue guidance.

Earnings Outlook
Reinsurance Group Of America Incorporated does not provide earnings estimates.

 
Geographic Revenue Dispersion




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