RZB - Reinsurance Group of America, Incorporated (RGA) Q1 2025 Earnings Call Transcript
2025-05-02 14:35:17 ET
Reinsurance Group of America, Incorporated (RGA)
Q1 2025 Results Conference Call
May 02, 2025 10:00 AM ET
Company Participants
Jeff Hopson - Senior Vice President of Investor Relations
Tony Cheng - President and Chief Executive Officer
Axel Andre - Executive Vice President and Chief Financial Officer
Jonathan Porter - Executive Vice President and Global Chief Risk Officer
Leslie Barbi - Executive Vice President and Chief Investment Officer
Conference Call Participants
Suneet Kamath - Jefferies
Elyse Greenspan - Wells Fargo
John Barnidge - Piper Sandler
Jimmy Bhullar - JPMorgan
Wes Carmichael - Autonomous Research
Ryan Krueger - KBW
Thomas Gallagher - Evercore ISI
Joel Hurwitz - Dowling Partners
Wilma Burdis - Raymond James
Mike Ward - UBS
Bob Huang - Morgan Stanley
Presentation
Operator
Good day and welcome to Reinsurance Group of America First Quarter 2025 Earnings Conference Call. All participants will be in lesson-only mode. [Operator Instructions]. After today's presentation, there will be an opportunity to ask questions. [Operator Instructions]. Please note that this event is being recorded.
I would now like to turn the conference over to Jeff Hopson, Senior Vice President of Investor Relations. Please go ahead.
Jeff Hopson
Thank you. Welcome to RGA's first quarter 2025 conference call. I'm joined on the call this morning by Tony Cheng, RGA's President and CEO; Axel Andre, Chief Financial Officer; Leslie Barbi, Chief Investment Officer, and Jonathan Porter, Chief Risk Officer.
A quick reminder before we get going regarding forward-looking information and non-GAAP financial measures. Some of our comments today may contain forward-looking statements. Actual results could differ materially from expected results. Please refer to the earnings release we issued yesterday for a list of important factors that could cause actual results to differ from expected results.
Additionally, during the course of this call, the information we provide may include non-GAAP financial measures. Please see our earnings release, earnings presentation, and quarterly financial supplement, all of which are posted on our website, for a discussion of these terms and reconciliations to GAAP measures. Throughout the call, we will be referencing slides from the earnings presentation, which, again, is posted on our website.
And now I'll turn the call over to Tony for his comments.
Tony Cheng
Good morning, everyone, and thank you for joining our call. Last night, we reported adjusted operating earnings of $5.66 per share. Our adjusted operating return on equity, excluding notable items, was 15%. I consider this to be a very good quarter, and it provides a strong start to the year. We achieved these results through a balance of strong performances across many of our geographic regions and products. The most significant driver of the results was the favorable claims experience, which is a continuation of our strong underwriting results over the past couple of years.
Despite ongoing macroeconomic uncertainties, we are not seeing a significant impact on our business. Our asset portfolio remains well-positioned, and our capital position remains strong. Therefore, we are highly confident we can successfully navigate the current environment without losing any of our strong momentum....
Reinsurance Group of America, Incorporated (RGA) Q1 2025 Earnings Call Transcript