Reinsurance Group of America Inc. (RGA) 2018年年度报告「NYSE」.pdf

1、Annual Report2018I To Our Shareholders:RGA delivered another solid year in 2018,highlighted by organic growth in traditional businesses,a high level of capital deployment into in-force transactions,and earnings contributions from throughout our globally diversified operations.2018 was also a year in

2、 which RGA solidified strong positions in our different markets and continued to help lead innovation efforts throughout the industry.Annual net premiums increased 7%in 2018 to exceed$10 billion for the first time,extending our organic growth of recent years and boosting total revenues to$12.9 billi

3、on.Net income in 2018 totaled$716 million,or$11.00 per diluted share,compared to$1.8 billion,or$27.71 per diluted share,in 2017.The prior year included the effects of the reduced corporate tax rate from the enactment of the U.S.Tax Cuts and Jobs Act of 2017,which was recognized as a one-time increas

4、e in net income of$1.0 billion,or$15.72 per diluted share.In 2018,positive bottom-line results from operations in Europe,Middle East and Africa(“EMEA”)and Asia Pacific helped offset underperformance in other segments to produce solid overall earnings,demonstrating the benefits of our globally divers

5、ified platform.Traditional U.S.and Latin America operations generated$5.5 billion in net premiums in 2018,up 3%from 2017.Pre-tax income totaled$286 million,as higher claims experience resulted in a challenging year overall.Unfavorable claims were largely attributable to the impact of a harsh winter

6、and flu season on individual mortality business as well as underperformance in group healthcare excess of loss and disability business,which is in the process of being remediated.RGA remained an individual life reinsurance market leader in Canada and surpassed$1 billion in premiums in our traditiona