Reinsurance Group Of America Q2 Results Top Estimates; Boosts Dividend

By RTT News, 
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(RTTNews.com) - Reinsurance Group of America, Inc. ( RGA ) reported Net income for the second quarter of $198.3 million or $2.84 per share, compared with a net loss of $49.6 million or $0.69 per diluted share for the year-ago quarter.

Operating income for the second quarter was $155.1 million or $2.23 per share, compared with a net operating loss of $71.8 million or $0.99 per share in the prior year quarter.

Total revenues for the second quarter rose to $2.83 billion from $2.59 billion a year ago.

Analysts polled by Thomson Reuters expected th company to earn $1.97 per share on revenue of $2.76 billion for the second quarter. Analysts' estimates typically exclude special items.

Consolidated net premiums increased 7% to $2.2 billion in the second quarter. Investment income decreased 8% to $410.6 million.

The company said its board of directors has increased the quarterly dividend 10% to $0.33 per share from $0.30 per share, payable August 29 to shareholders of record as of August 8.

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This article appears in: Earnings

Referenced Stocks: RGA , RGAB , TRI

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