Exhibit 99.1

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 PRESS RELEASE

REINSURANCE GROUP OF AMERICA REPORTS SECOND-QUARTER RESULTS
 
Earnings per diluted share: $3.54 from net income, $2.95 from adjusted operating income*
ROE 10 percent and adjusted operating ROE* 11 percent for the trailing twelve months
Reported net premiums increased 6 percent in the second quarter
Quarterly shareholder dividend raised 22 percent to $0.50 per quarter

ST. LOUIS, July 27, 2017 - Reinsurance Group of America, Incorporated (NYSE: RGA), a leading global provider of life reinsurance, reported second-quarter net income of $232.2 million, or $3.54 per diluted share, compared with $236.1 million, or $3.64 per diluted share, in the prior-year quarter. Adjusted operating income* totaled $193.7 million, or $2.95 per diluted share, compared with $181.2 million, or $2.80 per diluted share, the year before. Net foreign currency fluctuations had an adverse effect of $0.06 per diluted share on net income and on adjusted operating income. The resolution of uncertain tax positions added $0.10 per share in the quarter and $0.12 per share in the year-earlier quarter. Book value per share at June 30 was $123.60 including AOCI, and $97.68 excluding AOCI*.
 
 
 
Quarterly Results
 
Year-to-Date Results
($ in thousands, except per share data)
 
2017
 
2016
 
2017
 
2016
Net premiums
 
$
2,480,451

 
$
2,346,945

 
$
4,846,147

 
$
4,503,950

Net income
 
232,190

 
236,103

 
377,702

 
312,575

Net income per diluted share
 
3.54

 
3.64

 
5.76

 
4.81

Adjusted operating income*
 
193,674

 
181,228

 
315,739

 
301,978

Adjusted operating income per diluted share*
 
2.95

 
2.80

 
4.81

 
4.65

Book value per share
 
123.60

 
118.32

 
 
 
 
Book value per share, excluding accumulated other comprehensive income (AOCI)*
 
97.68

 
87.33

 
 
 
 
Total assets
 
58,138,072

 
53,876,703

 
 
 
 
*
See ‘Use of Non-GAAP Financial Measures’ below

Consolidated net premiums totaled $2.5 billion, up 6 percent from last year’s second quarter, with net adverse foreign currency effects of approximately $30.5 million. Excluding spread-based businesses and the value of associated derivatives, investment income rose 6 percent over year-ago levels, reflecting an 8 percent increase in average invested assets, offset in part by the impact of lower yields on new money and reinvested assets. The level of variable investment income was above average in this quarter and in the year-ago period. The average investment yield, excluding spread businesses, was down 11 basis points to 4.60 percent from the second quarter of 2016, reflecting the impact of lower yields on new money and reinvested assets. The average investment yield was 19 basis points higher than the first-quarter yield due primarily to a higher level of variable investment income.


- more -



The following information was filed by Reinsurance Group Of America Inc (RGA) on Thursday, July 27, 2017 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-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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