RGA(US:RGA)2025-10-30 20:17Financial Performance - Net premiums for Q3 2025 were $4,280 million, a decrease of $111 million compared to Q2 2025 and a decline of $1,237 million year-to-date from $13,687 million in 2024[7]. - Net income available to RGA's shareholders increased to $253 million in Q3 2025, up from $180 million in Q2 2025, and up $150 million year-to-date compared to $569 million in 2024[7]. - Adjusted operating income for Q3 2025 was $310 million, slightly down from $315 million in Q2 2025, and down $5 million year-to-date from $1,008 million in 2024[7]. - Total revenues for the three months ended September 30, 2025, were $6,204 million, an increase of 9.9% compared to $5,651 million in the prior year[9]. - Year-to-date revenues reached $17,063 million, a slight increase of 1.2% compared to $16,866 million in the previous year[9]. - The company reported a year-to-date revenue of $1,188 million, which is $28 million higher than the same period last year[28]. - Total revenues for the three months ended September 30, 2025, were $956 million, an increase of $137 million or 16.7% compared to the prior quarter[44]. Shareholder Returns - Total returned to shareholders in Q3 2025 was $136 million, significantly higher than $59 million in Q2 2025, and up $84 million year-to-date from $170 million in 2024[7]. - Shareholders' dividends paid increased to $61 million in Q3 2025, up from $59 million in Q2 2025, and up $9 million year-to-date from $170 million in 2024[7]. - RGA, Inc. shareholders' equity reached $12,978 million as of September 30, 2025, up from $12,053 million at June 30, 2025, reflecting a 7.7% increase[96]. - Book value per share increased to $197.52 as of September 30, 2025, compared to $182.37 at June 30, 2025, a rise of 8.3%[97]. Investment Performance - Net investment income rose to $1,475 million, up 24.2% from $1,188 million in the same quarter last year[9]. - The company reported net investment income of $282 million for Q3 2025, an increase of $56 million compared to the same quarter last year[18]. - Total assets increased to $152.003 billion as of September 30, 2025, up from $120.258 billion a year earlier, representing a growth of 26.4%[15]. - Total investments rose to $127.604 billion as of September 30, 2025, compared to $98.236 billion a year ago, marking a 29.9% increase[15]. - The annualized investment yield for the three months ended September 30, 2025, was 4.73%, down 35 basis points from 5.08% in the prior year quarter[62]. Claims and Benefits - Adjusted claims and other policy benefits were $4,356 million, an increase of 5.8% from $4,116 million in the prior year[9]. - The company reported a total benefits and expenses of $5,884 million, which is a 8.2% increase compared to $5,437 million in the same quarter last year[9]. - The loss ratio for Q3 2025 was 91.5%, a slight improvement from 91.9% in Q2 2025, while the year-to-date loss ratio was 93.9%, up from 90.2% in the prior year[18]. - Adjusted claims and other policy benefits totaled $511 million, a decrease of 22% from $654 million in the same quarter last year[22]. - Total benefits and expenses amounted to $970 million, an increase of 47% compared to $923 million in the same quarter last year[22]. Segment Performance - Income before income taxes for U.S. and Latin America Traditional decreased to $123 million in Q3 2025 from $149 million in Q2 2025, a decline of 17.4%[84]. - Income before income taxes for Canada Traditional increased to $41 million in Q3 2025, compared to $32 million in Q2 2025, an increase of 28.1%[88]. - Income before income taxes for Asia Pacific Traditional increased to $140 million in Q3 2025, up from $102 million in Q2 2025, representing a 37.3% increase[92]. - The Asia Pacific segment showed a strong performance with total adjusted operating income of $209 million, an increase of $146 million compared to $63 million in the prior year quarter[56]. Notable Items and Adjustments - The notable items impacted adjusted operating income by a reduction of $39 million in Q3 2025, compared to an increase of $53 million in Q3 2024[84]. - Adjusted operating income excluding notable items for U.S. and Latin America Traditional was $97 million in Q3 2025, down from $140 million in Q2 2025, representing a decrease of 30.7%[84]. - Adjusted operating income excluding notable items was $424 million in Q3 2025, compared to $315 million in Q2 2025, and down from $1,176 million year-to-date in 2024[7]. Credit and Securities - The allowance for credit losses for total fixed maturity securities was $161 million as of September 30, 2025, compared to $98 million on December 31, 2024[67]. - The total fixed maturity securities below amortized cost reached $45,788 million as of September 30, 2025, with unrealized losses of $6,512 million[74]. - The total value of corporate fixed maturity securities represented 67.5% of the total fair value as of September 30, 2025[67]. - The total amount of securities rated AAA/AA/A was $63,266 million, accounting for 63.5% of the total fair value as of September 30, 2025[70].