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![REINSURANCE GROUP OF AMERICA INC [RZC] reports annual net loss of $909.0 million](/_next/image?url=https%3A%2F%2F10kinfo-appdata.s3.us-west-2.amazonaws.com%2Fedgar0105%2FCompanyLogos%2FUS%2FRZC.png&w=1200&q=75)
REINSURANCE GROUP OF AMERICA INC [RZC] has reported a net loss of $909.0 million for year ended Dec 31, 2023.
The Company said in a filing before the Securities and Exchange Commission that its total revenue for the year was $18.6 billion
Based in CHESTERFIELD, Missouri, REINSURANCE GROUP OF AMERICA INC operates in the FINANCE sector.
In the consolidated statements of income for the financial year ending December 31, 2023, RGA, Inc. reported total revenues of $18.57 billion, compared to $16.23 billion in the previous year and $16.67 billion in the year before that. This represents an increase in revenue over the previous periods.
The total benefits and expenses for the same period amounted to $17.41 billion, higher than the $15.51 billion recorded in the previous year and $15.28 billion in the year before that. This increase in expenses impacted the overall financial performance of the company.
Income before income taxes for the year ending December 31, 2023, stood at $1.16 billion, showing significant growth from $718 million in the previous year but a decrease from $1.39 billion in the year before that.
Net income for the period was reported at $909 million, up from $521 million in the previous year but lower than $1.17 billion in the year before that. This indicates a mixed financial performance in terms of profitability.
The basic earnings per share for the period were $13.60, showing an increase from $7.73 in the previous year and $17.26 in the year before that. The diluted earnings per share were reported at $13.44, up from $7.64 in the previous year but lower than $17.13 in the year before that.
Overall, RGA, Inc. experienced growth in revenue and profitability in the financial year ending December 31, 2023, despite higher expenses impacting its net income.