image credit: Pixabay

RGA falls to $22mn Q3 loss off COVID-19 claims

November 5, 2021

Reinsurance Group of America, a US-based life reinsurer, has reported a third quarter net loss of $22 million, down from a $213 million net income in the prior-year quarter.

Adjusted operating losses totaled $75 million, compared with adjusted operating income of $239 million in the prior period.

Consolidated net premiums totaled $3.1 billion, an increase of 9.5% over last year’s third quarter, with a favorable net foreign currency effect of $51 million.

The firm’s US & Latin America segment fell to a pre-tax loss of $126 million after having previously secured an income of $14 million.

Read More on Reinsurance News