Manulife signs $4.3 billion reinsurance deal with RGA Life [Reuters]
Reinsurance Group of America, Incorporated (RGA)
Last reinsurance group of america, incorporated earnings: 1/28 04:15 pm
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Source: Reuters
billion) of reserves of Canadian Universal Life block, as the country's top insurer looks to de-risk its business and improve shareholder returns. The deal with RGA Life Reinsurance Company of Canada is expected to generate C$800 million of capital, which Manulife intends to use to buy back shares, it said. CEO Roy Gori said the insurer has released C$11 billion of capital since 2018 and improved the core return on equity (ROE) by about 5% since 2017. Manulife has been seeking to cut risk in its insurance portfolio and focus on profitable areas for growth. In December, it signed a C$13 billion deal to reinsure its long-term care business reserves. "We remain highly focused on exploring additional organic and inorganic actions to deliver value to shareholders," Gori added. A contract between a reinsurer and an insurer typically reduces the risk for the latter, allowing it to, in some cases, remain solvent by recovering a part of the payout and in others, transfer the risk of
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RGA
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