Reinsurance Group (RGA) Q4 Earnings Miss, Revenues Beat
Zacks Investment Research | Jan 28, 2020 08:39PM ET
Reinsurance Group of America, Incorporated (NYSE:RGA) reported fourth-quarter 2019 adjusted operating income of $3.43 per share, which missed the Zacks Consensus Estimate by 7.5%. Also, the bottom line declined 0.9% from the year-ago quarter’s figure.
Net foreign currency fluctuations had an adverse impact of 1 cent on the bottom line.
Reinsurance Group's operating revenues of $3.8 billion beat the Zacks Consensus Estimate by 4.6%. The top line also improved 10.1% year over year.
Net premiums of $3 billion rose 6.4% year over year. Investment income increased 29.7% from the prior-year quarter to $677 million. Average investment yield improved 11 basis points to 4.55% due to higher variable investment income.
Total benefits and expenses at Reinsurance Group increased 10.7% year over year to $3.5 billion. Higher claims and other policy benefits, interest credited, operating costs and interest expense resulted in cost escalation.
Reinsurance Group of America, Incorporated Price, Consensus and EPS Surprise
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