Manulife agrees to reinsure $4.3B of policies with RGA Canada [Seeking Alpha]
Reinsurance Group of America, Incorporated (RGA)
Last reinsurance group of america, incorporated earnings: 1/28 04:15 pm
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Source: Seeking Alpha
with RGA Life Reinsurance Co. of Canada, a subsidiary of Reinsurance Group of America ( NYSE: RGA ), the companies said Monday. The coinsurance transaction allows Manulife ( MFC ) to release C$0.8B in capital, which it intends to return to shareholders via share repurchases, resulting in core return on equity and core EPS accretion of 0.14 percentage points and $0.01, respectively. The block of Canadian universal life-insurance policies will continue to be administered by Manulife. "This transaction is the largest Universal Life reinsurance transaction in the Canadian insurance industry and represents another milestone in our journey to transform our portfolio to higher ROE and lower risk businesses," said Manulife President and CEO Roy Gori said in a statement. The deal is expected to close early in Q2 2024. Note that this is the third large block reinsurance transaction between Manulife and RGA. Recommended For You More Trending News Recommended For You More Trending N
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News
- Reinsurance Group of America, Incorporated (NYSE: RGA) had its price target raised by analysts at Morgan Stanley from $178.00 to $185.00. They now have an "equal weight" rating on the stock.MarketBeat
- Global Property and Casualty Reinsurance Market Poised for Strong Growth, Reaching USD 718.8 Billion by 2028, Driven by Increased Catastrophic Events and Regulatory Evolutions [Yahoo! Finance]Yahoo! Finance
- Reinsurance Group of America, Incorporated (NYSE: RGA) had its "outperform" rating re-affirmed by analysts at Royal Bank of Canada. They now have a $212.00 price target on the stock.MarketBeat
- Reinsurance Group of America, Incorporated (NYSE: RGA) had its price target raised by analysts at Wells Fargo & Company from $193.00 to $210.00. They now have an "overweight" rating on the stock.MarketBeat
- Reinsurance Group of America, Incorporated (NYSE: RGA) had its price target raised by analysts at Evercore ISI from $200.00 to $215.00. They now have an "outperform" rating on the stock.MarketBeat
RGA
Earnings
- 2/1/24 - Beat
RGA
Sec Filings
- 4/11/24 - Form ARS
- 4/11/24 - Form DEF
- 4/8/24 - Form 3
- RGA's page on the SEC website