RGA(US:RGA)2025-02-06 21:19Financial Performance - Net premiums for Q4 2024 were $4,156 million, a decrease of 5.3% from $4,391 million in Q3 2024 and an increase of 1.2% from $4,108 million in Q4 2023[10]. - Adjusted operating income for Q4 2024 was $334 million, up 38.0% from $242 million in Q3 2024 and up 5.7% from $316 million in Q4 2023[10]. - Net income available to RGA's shareholders for Q4 2024 was $148 million, down 5.1% from $156 million in Q3 2024 and up 6.3% from $139 million in Q4 2023[10]. - The return on equity for Q4 2024 was 7.1%, down from 7.7% in Q3 2024 and down from 11.4% in Q4 2023[10]. - Total revenues for Q4 2024 reached $5,241 million, up from $4,878 million in Q4 2023, reflecting a 7% increase[13]. - The company reported a year-to-date net income of $724 million for 2024, down from $909 million in 2023, a decrease of 20%[13]. - The company reported a total of $2,986 million in year-to-date revenues, an increase of $1,465 million compared to $1,521 million in the previous year[27]. Shareholder Returns - Total returned to shareholders in Q4 2024 was $59 million, a decrease of 101.7% from $106 million in Q3 2024 and down from $229 million in Q4 2023[10]. - Shareholders' dividends paid in Q4 2024 were $59 million, an increase of 5.2% from $56 million in Q4 2023[10]. - RGA, Inc. shareholders' equity stood at $10,816 million as of December 31, 2024, compared to $9,081 million a year earlier, reflecting an increase of 19%[100]. Business Production and Reinsurance - Assumed new business production for Q4 2024 was $102.3 million, down from $204.4 million in Q3 2024 but up from $97.6 million in Q4 2023[10]. - Assumed life reinsurance in force was $3,878.7 billion, a decrease from $3,966.5 billion in Q3 2024[10]. - Assumed Life Reinsurance In Force reached $1,837.1 billion in Q4 2024, compared to $1,703.6 billion in Q4 2023, indicating a growth of 7.8%[23]. Claims and Expenses - Claims and other policy benefits for Q4 2024 totaled $3,943 million, an increase of 106% from $3,837 million in Q4 2023[13]. - Total benefits and expenses for Q4 2024 were $5,016 million, a 3% increase from $4,843 million in Q4 2023[13]. - The loss ratio improved to 88.9% in Q4 2024 from 96.3% in Q4 2023, indicating better claims management[23]. Investment Income - The company experienced a net investment income of $1,185 million in Q4 2024, up from $956 million in Q4 2023, representing a 24% increase[13]. - Net investment income for the current quarter was $64 million, a slight increase of 3.2% from $62 million in the same quarter last year[33]. - The company reported investment and derivative gains of $96 million in the current quarter, a significant recovery from losses of $59 million in the previous year[96]. Assets and Liabilities - Total assets decreased to $118,675 million in Q4 2024 from $120,258 million in Q3 2024, a decline of 1.3%[20]. - Total liabilities stood at $107,769 million in Q4 2024, down from $109,041 million in Q3 2024, reflecting a 1.2% decrease[20]. - Cash and cash equivalents decreased to $3,326 million in Q4 2024 from $5,195 million in Q3 2024, a significant drop of 36.0%[20]. Notable Items and Adjustments - The company reported notable items impacting adjusted operating income, with a total of $53 million in Q4 2024 compared to $17 million in Q4 2023, indicating an increase of 212%[88]. - Adjusted operating income excluding notable items for the year-to-date was $377 million, a slight increase of 6% compared to $371 million in the previous year[96]. - The company emphasized the importance of non-GAAP financial measures in evaluating performance, which provide a clearer picture of ongoing operations[104].