Reinsurance Group of America Beats Q4 Estimates
Shares of Reinsurance Group of America (NYSE: RGA) are flat in the after-hours following the release of the company's Q4 earnings results. Currently, shares are higher bid $45.00, at $56.49; they ended the regular session lower by 0.30%, at $55.97.
Reinsurance Group of America reported Q4 diluted net EPS of $2.15 on revenues of $2.35 billion; operating income totaled $1.91 per diluted share. The Street was looking for $1.84 per share. Revenues increased 13% year over year.
The company sees Q1 EPS of $0.33 on revenues of $470-475 million; the Street was looking for $0.33 per share on revenues of $470.84 million.
Greig Woodring, president and chief executive officer, commented, "Global claims experience was somewhat higher than our expectations for the quarter, reflecting higher-than-expected disability claims in Australia and U.S. group reinsurance, offset in part by strong results in most of our other markets.”
“Our asset intensive business also performed well. Overall net premium growth was better-than-expected, and our book value per share continues to climb with consistent earnings contributions.”
Reinsurance Group of America, Incorporated is an insurance holding company. The company is engaged in traditional life and health for individual and group coverages, annuity, critical illness and financial reinsurance.
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