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UPDATE: Citigroup Initiates Reinsurance Group of America at Neutral on Near-Term Headwinds

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Citigroup initiated coverage on Reinsurance Group of America, Incorporated (NYSE: RGA) with a Neutral rating and a $60.00 price target.

Citigroup commented, "Cautious U.S. growth outlook, but pricing environment remains favorable — Our model projects low-mid single digit premium growth in the U.S. as a result of tepid life insurance sales and the decline in cession rates (from >60% in the early 2000s to <30% currently). Most growth is coming from newer products such as group reinsurance and long-term care. While growth is challenging, returns remain healthy as industry consolidation has created a favorable pricing dynamic."

Reinsurance Group of America closed at $54.52 on Wednesday.

Latest Ratings for RGA

DateFirmActionFromTo
Apr 2015Keefe Bruyette &amp; WoodsMaintainsMarket Perform
Apr 2015Raymond JamesDowngradesOutperformMarket Perform
Feb 2015Keefe Bruyette &amp; WoodsMaintainsMarket Perform

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Posted-In: CitigroupAnalyst Color Initiation Pre-Market Outlook Analyst Ratings

 

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