Exhibit 99.1

rgaprlogoaa01a11.jpg

 PRESS RELEASE

REINSURANCE GROUP OF AMERICA REPORTS FIRST-QUARTER RESULTS
 
Earnings per diluted share: $1.52 from net income, $1.61 from adjusted operating income*
ROE 21.1 percent and adjusted operating ROE* 10.3 percent for the trailing twelve months
Reported net premiums increased 9 percent in the first quarter

ST. LOUIS, April 26, 2018
- Reinsurance Group of America, Incorporated (NYSE: RGA), a leading global provider of life reinsurance, reported first-quarter net income of $100.2 million, or $1.52 per diluted share, compared with $145.5 million, or $2.22 per diluted share, in the prior-year quarter. Adjusted operating income* totaled $105.7 million, or $1.61 per diluted share, compared with $122.1 million, or $1.86 per diluted share, the year before. Net foreign currency fluctuations had a favorable effect of $0.09 per diluted share on net income and on adjusted operating income.

 
 
Quarterly Results
($ in thousands, except per share data)
 
2018
 
2017
Net premiums
 
$
2,582,551

 
$
2,365,696

Net income
 
100,230

 
145,512

Net income per diluted share
 
1.52

 
2.22

Adjusted operating income*
 
105,746

 
122,065

Adjusted operating income per diluted share*
 
1.61

 
1.86

Book value per share
 
139.64

 
115.24

Book value per share, excluding accumulated other comprehensive income (AOCI)*
 
117.49

 
94.72

Total assets
 
60,954,823

 
53,805,820

*
See ‘Use of Non-GAAP Financial Measures’ below
  
In the first quarter, consolidated net premiums totaled $2.6 billion, up 9 percent from last year’s first quarter of $2.4 billion, with favorable net foreign currency effects of $79.3 million. Excluding spread-based businesses and the value of associated derivatives, investment income increased 9 percent over year-ago levels, due to an increase in average invested assets and higher variable investment income. The average investment yield, excluding spread businesses, was up 5 basis points from the first quarter of 2017 to 4.46 percent, attributable to higher variable investment income. The average investment yield was 8 basis points higher than the fourth-quarter yield due primarily to a higher level of variable investment income.

The Tax Cuts and Jobs Act of 2017 was enacted on December 22, 2017, reducing the statutory federal income tax rate from 35 percent to 21 percent, effective January 1, 2018. Due to generating a greater-than-expected portion of earnings in jurisdictions that have higher income tax rates than the U.S. statutory rate, and the inclusion of U.S. tax related to Global Intangible Low-Taxed Income, the effective tax rate this quarter was higher than the expected range at 27.3 percent on pre-tax income and 26.7 percent on pre-tax adjusted operating income.   - more -



The following information was filed by Reinsurance Group Of America Inc (RGA) on Thursday, April 26, 2018 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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