Exhibit 99.1

PRESS RELEASE

REINSURANCE GROUP OF AMERICA REPORTS FOURTH-QUARTER RESULTS

Earnings per diluted share: operating income* $2.84, net income $2.46
Full-year operating return on equity* 11 percent
Continuing strong performance by Global Financial Solutions (GFS) and International segments; much-improved results in Canada
Deployed approximately $500 million toward block transactions and repurchased $375 million of shares for the full year
A stronger U.S. dollar reduced operating EPS* by $0.18 in Q4 and $0.53 for the full year

ST. LOUIS, January 28, 2016
- Reinsurance Group of America, Incorporated (NYSE: RGA), a leading global provider of life reinsurance, reported operating income* of $188.0 million, or $2.84 per diluted share, compared to $208.3 million, or $2.99 per diluted share, in the prior-year quarter. A relatively stronger U.S. dollar adversely affected fourth-quarter results by $0.18 per share. Enactment of the Active Financing Exception (AFE) added $0.36 per diluted share in Q4; there was no AFE impact for the full year. In the prior-year period, tax-related adjustments benefited the fourth quarter by $0.55 per share. Net income totaled $163.1 million, or $2.46 per diluted share, compared to $191.1 million, or $2.75 per diluted share, the year before.
 
 
Quarterly Results
 
Year-to-Date Results
($ in thousands, except per share data)
 
2015
 
2014
 
2015
 
2014
Net premiums
 
$
2,328,501

 
$
2,217,772

 
$
8,570,741

 
$
8,669,854

Net income
 
163,127

 
191,091

 
502,166

 
684,047

Net income per diluted share
 
2.46

 
2.75

 
7.46

 
9.78

Operating income*
 
187,950

 
208,288

 
567,084

 
638,049

Operating income per diluted share*
 
2.84

 
2.99

 
8.43

 
9.12

Book value per share
 
94.09

 
102.13

 
 
 
 
Book value per share (excl. Accumulated Other Comprehensive Income “AOCI”)*
 
83.23

 
78.03

 
 
 
 
Total assets
 
50,383,152

 
44,654,300

 
 
 
 
* See "Use of Non-GAAP Financial Measures" below
Full-year operating income decreased to $567.1 million, or $8.43 per diluted share, from $638.0 million, or $9.12 per diluted share, the year before. Net adverse foreign currency fluctuations reduced 2015 operating income by $55.2 million, or $0.53 per share. Net premiums were down 1 percent for the current year in reported U.S. dollars and up 4 percent in original currencies. Excluding the adverse foreign currency fluctuations and the effect of a large retrocession agreement executed in the fourth quarter of 2014, net premiums increased 8 percent in 2015. Full-year 2015 net income totaled $502.2 million, or $7.46 per diluted share, versus $684.0 million, or $9.78 per diluted share, in 2014.

For the fourth quarter, consolidated net premiums increased 5 percent and totaled $2.3 billion, including adverse foreign currency effects of approximately $108 million. Original currency premiums increased 10 percent over the prior-year quarter, including contributions from new block transactions. Investment
- more -




The following information was filed by Reinsurance Group Of America Inc (RGA) on Thursday, January 28, 2016 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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