Reinsurance Group of America, Incorporated (RGA) Q4 2024 Earnings Call Transcript

2025-02-07 14:41:01 ET

Reinsurance Group of America, Incorporated (RGA)

Q4 2024 Earnings Conference Call

February 07, 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

Leslie Barbi - Executive Vice President and Chief Investment Officer

Jonathan Porter - Executive Vice President and Global Chief Risk Officer

Conference Call Participants

Wilma Burdis - Raymond James

Ryan Krueger - KBW

John Barnidge - Piper Sandler

Wes Carmichael - Autonomous Research

Elyse Greenspan - Wells Fargo

Jimmy Bhullar - JPMorgan

Thomas Gallagher - Evercore ISI

Alex Scott - Barclays

Suneet Kamath - Jefferies

Presentation

Operator

Hello, and welcome to the Reinsurance Group of America's Fourth Quarter 2024 Earnings Conference Call. All participants will be in listen-only mode. [Operator Instructions]. As a reminder, today's conference is being recorded.

I would now like to hand the call to Jeff Hopson, Head of Investor Relations. Please go ahead.

Jeff Hopson

Thank you. Welcome to RGA's fourth quarter 2024 conference call. I'm joined on the call this morning with 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 started regarding forward-looking information and non-GAAP financial measures. Some of our comments or answers to your questions 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 $4.99 per share. Our adjusted operating return on equity, excluding notable items, for the past year was 15.4%. The fourth quarter capped off a great year for RGA as we delivered record operating earnings and many other achievements across our organization. In the quarter, our in-force transactions were solid at $250 million of capital deployed and this was accompanied by continued strong momentum in organic business activity in all our key markets around the world....

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