Reinsurance Group of America Inc. (RGA) 2019年年度报告「NYSE」.pdf

1、201 9A N N UA LR EP O RTThe security of experience.The power of innovation.I To Our Shareholders:RGA produced another successful year in 2019,with strong top-line growth driving solid earnings.Continued organic growth and active capital deployment across a diversified global platform generated broad

2、-based earnings,offsetting market volatility and underperformance in some areas.Once again,RGA executed on our proven strategy and strengthened our position in target markets and business lines.Net income was$870 million in 2019,or$13.62 per diluted share,representing a 22%increase over the previous

3、 years total of$716 million,or$11.00 per diluted share.Robust earnings growth reflected record highs in annual net premiums of$11.3 billion and total revenues of$14.3 billion.Notable success drivers included excellent results from Global Financial Solutions(GFS)across all markets;strong overall perf

4、ormances by our Asia,Canada,and EMEA operations;and a significant rebound in our U.S.group business.GFS delivered an outstanding year,generating pre-tax income of$659 million,a 46%increase over 2018.This years success reflected continued strategic execution in all target markets coupled with innovat

5、ive new approaches to meet our clients evolving capital needs.Our GFS results benefited from the strong performance of our in-force business,including asset-intensive and longevity blocks.Despite increased competition,RGAs robust market position and financial solutions capabilities drove strong new

6、business growth,while maintaining a disciplined,selective approach to emerging opportunities.RGA deployed$465 million into in-force and other transactions in 2019,following$440 million deployed in 2018,making it one of our most active years.Transactions executed were diverse in both product type and