| Over a week ago | ||||
JPMorgan analyst Jimmy… JPMorgan analyst Jimmy Bhullar raised the firm's price target on Reinsurance Group to $137 from $122 and keeps a Neutral rating on the shares. The analyst's outlook for life insurance stocks is "less upbeat" following the group's "strong recent performance." He expects long-term business fundamentals to "stay lackluster," marked by weak return on equity, modest top-line growth, and "high tail risk." However, the prospect of further increases in interest rates and the government's support of credit are the key factors keeping Bhullar from being more cautious. | ||||
Citi analyst Suneet… Citi analyst Suneet Kamath raised the firm's price target on Reinsurance Group to $146 from $135 and keeps a Buy rating on the shares. The analyst refreshed U.S. insurance price targets to reflect the year-to-date changes in the market environment. In addition, he moved away from a preference for property and casualty over life insurance and now equally weighs both sectors. | ||||
| Over a month ago | ||||
Virtual Meeting to be… Virtual Meeting to be held on February 26 hosted by Piper Sandler. | ||||
Virtual Meeting to be… Virtual Meeting to be held on February 26 hosted by Piper Sandler. | ||||
Reports Q4 revenue… Reports Q4 revenue $4.14B, consensus $3.77B. Anna Manning, President and Chief Executive Officer, commented, "Results benefited from our diversified global platform with a number of our segments performing very well this quarter; our overall premium growth was a solid 9%, and we were successful in closing a number of in-force transactions. Our balance sheet remains strong, and we ended the quarter with excess capital of approximately $1.3 billion." | ||||
Reinsurance Group of… Reinsurance Group of America announced that it has agreed to acquire 100% of the share capital of Hodge Life Assurance Company Limited, HLAC, the PRA authorized life insurance company of Hodge Limited. HLAC has annuity liabilities of approximately GBP 570 million, $780 million U.S.. "The purchase of HLAC demonstrates RGA's continued strong support of the U.K. market and our commitment to working with our clients around the world to provide capital and risk-management solutions," said Larry Carson, Executive Vice President, Global Financial Solutions, RGA. "We are delighted to be bringing this business into the RGA family and we believe that RGA provides a strong and stable home for HLAC's policyholders." "The transaction demonstrates a strong cultural fit between RGA and HLAC," said Deian Jones, Managing Director, HLAC. "The process has been executed swiftly and efficiently, and HLAC's customers will see aseamless transition as we work towards completion of the transaction." HLAC plans to cease writing new business effective February 1 , with an appropriate amount of time allowed for existing quotes and applications to proceed through to completion. Completion of the transaction is subject to regulatory approval. Additional terms of the transaction are not being disclose at this time. | |
Credit Suisse analyst… Credit Suisse analyst Andrew Kligerman downgraded Reinsurance Group of America to Underperform from Neutral with a price target of $76, down from $96. The company's growth and return metrics have deteriorated over the past 10 years, and it is no longer the "pure play protection company it once was," Kligerman tells investors in a research note. The analyst estimates over ($600M) of potential pre-tax individual life reserve true-ups and/or underperformance. He sees continued balance sheet pressure from COVID-19 mortality and credit impacts. |
| Over a quarter ago | ||||
Piper Sandler analyst… Piper Sandler analyst John Barnidge raised the firm's price target on Reinsurance Group to $130 from $127 and keeps an Overweight rating on the shares. | ||||
Keefe Bruyette analyst… Keefe Bruyette analyst Roger Krueger downgraded Reinsurance Group to Market Perform from Outperform with a $128 price target. If 10 year interest rates remain in the 1.0% range long-term, the analyst expects negative economic value impacts of at least 20% for the life insurance sector. He views valuations for the life group as largely fair for the current interest rate environment. | ||||
JPMorgan analyst Jimmy… JPMorgan analyst Jimmy Bhullar downgraded Reinsurance Group of America to Neutral from Overweight with an unchanged price target of $120. The analyst is concerned about reductions in earnings estimates due to ongoing high COVID-related deaths, especially in the U.S. In addition, the stock's relative valuation is not compelling following its recent recovery, Bhullar tells investors in a research note. | ||||