Overview

* RGA Q3 adjusted operating income rises, achieving a quarterly record, excluding notable items

* Net income for Q3 increases to $253 mln from $156 mln year-over-year

* Company repurchased $75 mln of common shares in Q3

Outlook

* RGA has estimated deployable capital of $3.4 bln for growth and shareholder returns

* Company sees attractive pipeline, heavily weighted toward exclusive opportunities

* RGA expects to continue delivering strong financial results

Result Drivers

* ASIA AND EMEA PERFORMANCE - Strong results in Asia Traditional and EMEA contributed to record operating income

* EQUITABLE TRANSACTION - Earnings boosted by the Equitable transaction completed in Q3

* CAPITAL DEPLOYMENT - $1.7 bln deployed into in-force transactions, including $1.5 bln with Equitable Holdings

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q3 EPS $3.81

Q3 Net $253 mln

Income

Q3 $310 mln

Adjusted

Operatin

g Income

Q3 13.2%

Adjusted

ROE

Q3 ROE 7.4%

Analyst Coverage

* The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 7 "strong buy" or "buy", 3 "hold" and 1 "sell" or "strong sell"

* The average consensus recommendation for the reinsurance peer group is "buy"

* Wall Street's median 12-month price target for Reinsurance Group of America Inc ( RGA ) is $241.00, about 21.3% above its October 29 closing price of $189.61

Press Release:

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)