Intrinsic value of Reinsurance Group of America - RGA

Previous Close

$143.44

  Intrinsic Value

$0.00

stock screener

  Rating & Target

str. sell

-100%

Previous close

$143.44

 
Intrinsic value

$0.00

 
Up/down potential

-100%

 
Rating

str. sell

Our model is not good at valuating stocks of financial companies, such as RGA.

We calculate the intrinsic value of RGA stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Revenue (in 2017), $M
Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Variable cost ratio, %
Fixed operating expenses, $M
Interest rate on debt, %
Effective corporate tax rate, %
Production assets / Revenue, %
Life of production assets, yrs
Working capital / Revenue, %
Revenue / Adjusted assets
Adjusted equity ratio
Cash flow adjustment, % of Revenue
Book value of equity, $M
Shares outstanding, mln
Market capitalization, $bln 9.2

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
   2018
   2019
   2020
   2021
   2022
   2023
   2024
   2025
   2026
   2027
   2028
   2029
   2030
   2031
   2032
   2033
   2034
   2035
   2036
   2037
   2038
   2039
   2040
   2041
   2042
   2043
   2044
   2045
   2046
   2047

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  8.60
  8.24
  7.92
  7.62
  7.36
  7.13
  6.91
  6.72
  6.55
  6.39
  6.26
  6.13
  6.02
  5.92
  5.82
  5.74
  5.67
  5.60
  5.54
  5.49
  5.44
  5.39
  5.35
  5.32
  5.29
  5.26
  5.23
  5.21
  5.19
  5.17
Revenue, $m
  13,592
  14,712
  15,877
  17,088
  18,346
  19,653
  21,011
  22,424
  23,892
  25,420
  27,010
  28,666
  30,391
  32,188
  34,063
  36,019
  38,060
  40,191
  42,418
  44,745
  47,178
  49,723
  52,386
  55,172
  58,089
  61,144
  64,343
  67,695
  71,207
  74,888
Variable operating expenses, $m
  12,124
  13,123
  14,162
  15,242
  16,364
  17,530
  18,742
  20,002
  21,312
  22,675
  24,093
  25,570
  27,109
  28,712
  30,384
  32,129
  33,949
  35,851
  37,837
  39,913
  42,083
  44,353
  46,728
  49,213
  51,815
  54,540
  57,394
  60,384
  63,517
  66,800
Fixed operating expenses, $m
  64
  66
  67
  69
  70
  72
  73
  75
  77
  78
  80
  82
  84
  85
  87
  89
  91
  93
  95
  97
  99
  102
  104
  106
  109
  111
  113
  116
  118
  121
Total operating expenses, $m
  12,188
  13,189
  14,229
  15,311
  16,434
  17,602
  18,815
  20,077
  21,389
  22,753
  24,173
  25,652
  27,193
  28,797
  30,471
  32,218
  34,040
  35,944
  37,932
  40,010
  42,182
  44,455
  46,832
  49,319
  51,924
  54,651
  57,507
  60,500
  63,635
  66,921
Operating income, $m
  1,404
  1,523
  1,647
  1,777
  1,911
  2,051
  2,196
  2,347
  2,504
  2,667
  2,837
  3,014
  3,199
  3,391
  3,591
  3,801
  4,019
  4,247
  4,486
  4,735
  4,996
  5,268
  5,554
  5,852
  6,165
  6,493
  6,836
  7,195
  7,572
  7,967
EBITDA, $m
  7,573
  8,201
  8,854
  9,533
  10,238
  10,971
  11,733
  12,525
  13,349
  14,205
  15,097
  16,026
  16,993
  18,001
  19,053
  20,150
  21,295
  22,490
  23,739
  25,045
  26,410
  27,838
  29,332
  30,895
  32,532
  34,246
  36,041
  37,922
  39,893
  41,959
Interest expense (income), $m
  157
  2,791
  2,791
  2,791
  2,791
  2,791
  2,791
  2,791
  2,791
  2,791
  2,791
  2,791
  2,791
  2,791
  2,791
  2,791
  2,791
  2,791
  2,791
  2,791
  2,791
  2,791
  2,791
  2,791
  2,791
  2,791
  2,791
  2,791
  2,791
  2,791
  2,791
Earnings before tax, $m
  -1,388
  -1,268
  -1,144
  -1,015
  -880
  -741
  -595
  -445
  -288
  -124
  46
  223
  407
  600
  800
  1,009
  1,228
  1,456
  1,695
  1,944
  2,204
  2,477
  2,762
  3,061
  3,374
  3,701
  4,044
  4,404
  4,781
  5,176
Tax expense, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  12
  60
  110
  162
  216
  273
  332
  393
  458
  525
  595
  669
  746
  826
  911
  999
  1,092
  1,189
  1,291
  1,397
Net income, $m
  -1,388
  -1,268
  -1,144
  -1,015
  -880
  -741
  -595
  -445
  -288
  -124
  33
  163
  297
  438
  584
  737
  896
  1,063
  1,237
  1,419
  1,609
  1,808
  2,017
  2,235
  2,463
  2,702
  2,952
  3,215
  3,490
  3,778

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Adjusted assets (=assets-cash), $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Revenue / Adjusted assets
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
Average production assets, $m
  61,696
  66,780
  72,066
  77,560
  83,270
  89,204
  95,371
  101,782
  108,448
  115,383
  122,600
  130,115
  137,944
  146,104
  154,612
  163,489
  172,754
  182,428
  192,536
  203,099
  214,143
  225,693
  237,778
  250,426
  263,666
  277,531
  292,053
  307,267
  323,209
  339,918
Working capital, $m
  -55,321
  -59,879
  -64,619
  -69,546
  -74,666
  -79,987
  -85,516
  -91,265
  -97,242
  -103,461
  -109,932
  -116,671
  -123,691
  -131,007
  -138,636
  -146,596
  -154,904
  -163,579
  -172,642
  -182,113
  -192,016
  -202,373
  -213,209
  -224,550
  -236,422
  -248,854
  -261,876
  -275,518
  -289,813
  -304,795
Total debt, $m
  51,691
  51,691
  51,691
  51,691
  51,691
  51,691
  51,691
  51,691
  51,691
  51,691
  51,691
  51,691
  51,691
  51,691
  51,691
  51,691
  51,691
  51,691
  51,691
  51,691
  51,691
  51,691
  51,691
  51,691
  51,691
  51,691
  51,691
  51,691
  51,691
  51,691
Total liabilities, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total equity, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total liabilities and equity, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Debt-to-equity ratio
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
Adjusted equity ratio
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  -1,388
  -1,268
  -1,144
  -1,015
  -880
  -741
  -595
  -445
  -288
  -124
  33
  163
  297
  438
  584
  737
  896
  1,063
  1,237
  1,419
  1,609
  1,808
  2,017
  2,235
  2,463
  2,702
  2,952
  3,215
  3,490
  3,778
Depreciation, amort., depletion, $m
  6,170
  6,678
  7,207
  7,756
  8,327
  8,920
  9,537
  10,178
  10,845
  11,538
  12,260
  13,012
  13,794
  14,610
  15,461
  16,349
  17,275
  18,243
  19,254
  20,310
  21,414
  22,569
  23,778
  25,043
  26,367
  27,753
  29,205
  30,727
  32,321
  33,992
Funds from operations, $m
  4,782
  5,410
  6,063
  6,741
  7,447
  8,180
  8,942
  9,734
  10,557
  11,414
  12,293
  13,174
  14,092
  15,048
  16,045
  17,086
  18,172
  19,306
  20,491
  21,729
  23,024
  24,378
  25,794
  27,277
  28,829
  30,455
  32,158
  33,941
  35,811
  37,770
Change in working capital, $m
  -4,381
  -4,558
  -4,740
  -4,927
  -5,120
  -5,321
  -5,530
  -5,748
  -5,978
  -6,218
  -6,472
  -6,739
  -7,020
  -7,316
  -7,629
  -7,959
  -8,308
  -8,675
  -9,063
  -9,472
  -9,903
  -10,357
  -10,836
  -11,341
  -11,872
  -12,432
  -13,022
  -13,642
  -14,295
  -14,982
Cash from operations, $m
  9,163
  9,968
  10,803
  11,668
  12,567
  13,500
  14,471
  15,482
  16,535
  17,632
  18,765
  19,913
  21,112
  22,364
  23,675
  25,045
  26,479
  27,981
  29,553
  31,201
  32,926
  34,735
  36,630
  38,618
  40,702
  42,887
  45,179
  47,584
  50,106
  52,752
Maintenance CAPEX, $m
  -5,681
  -6,170
  -6,678
  -7,207
  -7,756
  -8,327
  -8,920
  -9,537
  -10,178
  -10,845
  -11,538
  -12,260
  -13,012
  -13,794
  -14,610
  -15,461
  -16,349
  -17,275
  -18,243
  -19,254
  -20,310
  -21,414
  -22,569
  -23,778
  -25,043
  -26,367
  -27,753
  -29,205
  -30,727
  -32,321
New CAPEX, $m
  -4,889
  -5,084
  -5,286
  -5,495
  -5,710
  -5,934
  -6,167
  -6,411
  -6,666
  -6,935
  -7,217
  -7,515
  -7,829
  -8,159
  -8,508
  -8,877
  -9,265
  -9,675
  -10,107
  -10,563
  -11,044
  -11,551
  -12,085
  -12,648
  -13,240
  -13,865
  -14,522
  -15,214
  -15,942
  -16,709
Cash from investing activities, $m
  -10,570
  -11,254
  -11,964
  -12,702
  -13,466
  -14,261
  -15,087
  -15,948
  -16,844
  -17,780
  -18,755
  -19,775
  -20,841
  -21,953
  -23,118
  -24,338
  -25,614
  -26,950
  -28,350
  -29,817
  -31,354
  -32,965
  -34,654
  -36,426
  -38,283
  -40,232
  -42,275
  -44,419
  -46,669
  -49,030
Free cash flow, $m
  -1,407
  -1,285
  -1,161
  -1,033
  -899
  -760
  -616
  -466
  -310
  -147
  9
  138
  271
  411
  556
  707
  866
  1,031
  1,203
  1,384
  1,573
  1,770
  1,976
  2,192
  2,419
  2,656
  2,904
  3,164
  3,437
  3,723
Issuance/(repayment) of debt, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Issuance/(repurchase) of shares, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash from financing (excl. dividends), $m  
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total cash flow (excl. dividends), $m
  -1,407
  -1,285
  -1,161
  -1,033
  -899
  -760
  -616
  -466
  -310
  -147
  9
  138
  271
  411
  556
  707
  866
  1,031
  1,203
  1,384
  1,573
  1,770
  1,976
  2,192
  2,419
  2,656
  2,904
  3,164
  3,437
  3,723
Retained Cash Flow (-), $m
  -1,388
  -1,268
  -1,144
  -1,015
  -880
  -741
  -595
  -445
  -288
  -124
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Prev. year cash balance distribution, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash available for distribution, $m
  -1,388
  -1,268
  -1,144
  -1,015
  -880
  -741
  -595
  -445
  -288
  -124
  9
  138
  271
  411
  556
  707
  866
  1,031
  1,203
  1,384
  1,573
  1,770
  1,976
  2,192
  2,419
  2,656
  2,904
  3,164
  3,437
  3,723
Discount rate, %
  13.90
  14.60
  15.32
  16.09
  16.90
  17.74
  18.63
  19.56
  20.54
  21.56
  22.64
  23.77
  24.96
  26.21
  27.52
  28.90
  30.34
  31.86
  33.45
  35.12
  36.88
  38.72
  40.66
  42.69
  44.83
  47.07
  49.42
  51.90
  54.49
  57.21
PV of cash for distribution, $m
  -1,218
  -966
  -746
  -559
  -403
  -278
  -180
  -106
  -54
  -18
  1
  11
  15
  16
  14
  12
  10
  7
  5
  3
  2
  1
  1
  0
  0
  0
  0
  0
  0
  0
Current shareholders' claim on cash, %
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0

Reinsurance Group of America, Incorporated (RGA) is an insurance holding company. The Company provides traditional life and health reinsurance and financial solutions with operations in the United States, Latin America, Canada, Europe, Africa, Asia and Australia. It has geographic-based and business-based operational segments, including U.S. and Latin America; Canada; Europe, Middle East and Africa; Asia Pacific, and Corporate and Other. Its geographic-based operations are further segmented into traditional and financial solutions businesses. The Company's subsidiaries include Reinsurance Company of Missouri, Incorporated, RGA Americas Reinsurance Company, Ltd., RGA Reinsurance Company (Barbados) Ltd., Manor Reinsurance, Ltd., RGA Reinsurance Company of South Africa, Limited, Aurora National Life Assurance Company, and RGA Reinsurance Company of Australia Limited. Traditional reinsurance includes individual and group life and health, disability, and critical illness reinsurance.

FINANCIAL RATIOS  of  Reinsurance Group of America (RGA)

Valuation Ratios
P/E Ratio 13.2
Price to Sales 0.8
Price to Book 1.3
Price to Tangible Book
Price to Cash Flow 6.3
Price to Free Cash Flow 6.5
Growth Rates
Sales Growth Rate 10.3%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate 87.5%
Cap. Spend. - 3 Yr. Gr. Rate NaN%
Financial Strength
Quick Ratio NaN
Current Ratio NaN
LT Debt to Equity 55.4%
Total Debt to Equity 55.4%
Interest Coverage 8
Management Effectiveness
Return On Assets 1.6%
Ret/ On Assets - 3 Yr. Avg. 1.6%
Return On Total Capital 6.9%
Ret/ On T. Cap. - 3 Yr. Avg. 6.5%
Return On Equity 10.6%
Return On Equity - 3 Yr. Avg. 9.6%
Asset Turnover 0.2
Profitability Ratios
Gross Margin 0%
Gross Margin - 3 Yr. Avg. 0%
EBITDA Margin 10.6%
EBITDA Margin - 3 Yr. Avg. 9.9%
Operating Margin 10.4%
Oper. Margin - 3 Yr. Avg. 9.8%
Pre-Tax Margin 9%
Pre-Tax Margin - 3 Yr. Avg. 8.5%
Net Profit Margin 6.1%
Net Profit Margin - 3 Yr. Avg. 5.7%
Effective Tax Rate 32.9%
Eff/ Tax Rate - 3 Yr. Avg. 32.6%
Payout Ratio 14.3%

RGA stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the RGA stock intrinsic value calculation we used $12516 million for the last fiscal year's total revenue generated by Reinsurance Group of America. The default revenue input number comes from 2017 income statement of Reinsurance Group of America. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our RGA stock valuation model: a) initial revenue growth rate of 8.6% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 13.9%, whose default value for RGA is calculated based on our internal credit rating of Reinsurance Group of America, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of Reinsurance Group of America.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of RGA stock the variable cost ratio is equal to 89.2%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $63 million in the base year in the intrinsic value calculation for RGA stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 5.4% for Reinsurance Group of America.

Corporate tax rate of 27% is the nominal tax rate for Reinsurance Group of America. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the RGA stock is equal to 0%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for RGA are equal to 453.9%.

Life of production assets of 10 years is the average useful life of capital assets used in Reinsurance Group of America operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for RGA is equal to -407%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $0 million for Reinsurance Group of America - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 64 million for Reinsurance Group of America is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of Reinsurance Group of America at the current share price and the inputted number of shares is $9.2 billion.

RELATED COMPANIES Price Int.Val. Rating
HRG HRG Group 13.40 21.02  buy

COMPANY NEWS

▶ Reinsurance Group of America Reports Second-Quarter Results   [Jul-26-18 04:15PM  Business Wire]
▶ Reinsurance Group of America to Host Investor Day   [May-17-18 04:05PM  Business Wire]
▶ Reinsurance Group: 1Q Earnings Snapshot   [05:03AM  Associated Press]
▶ Reinsurance Group of America Reports First-Quarter Results   [Apr-26-18 04:15PM  Business Wire]
▶ RGA Appoints New Members to Board of Directors   [Apr-23-18 04:05PM  Business Wire]
▶ Reinsurance Group of America to Host Investor Day   [Mar-14-18 04:05PM  Business Wire]
▶ 3 Top Reinsurance Stocks to Buy Now   [Feb-05-18 07:32AM  Motley Fool]
▶ Reinsurance Group misses 4Q profit forecasts   [Jan-29-18 04:49PM  Associated Press]
▶ Earnings Preview: Reinsurance Group   [12:17PM  Benzinga]
▶ Understanding Analysts Ratings on MetLife   [Jan-24-18 07:30AM  Market Realist]
▶ Understanding MetLifes Discounted Valuations   [Jan-23-18 10:30AM  Market Realist]
▶ Analyzing the Performance of MetLifes EMEA Division   [Jan-22-18 10:31AM  Market Realist]
▶ How MetLifes US Division Has Performed   [Jan-19-18 10:34AM  Market Realist]
▶ MetLife Launches InsurTech Investment Programs   [Jan-18-18 03:00PM  Market Realist]
▶ What Can We Expect from MetLife in 4Q17?   [11:57AM  Market Realist]
▶ 4 Momentum Stocks Powered by Driehaus Strategy   [Jan-16-18 08:49AM  Zacks]
▶ RGAx to Acquire LOGiQ3 Group   [Jan-08-18 09:25AM  Business Wire]
▶ Life Insurers' Multitudes of Stimuli   [Dec-28-17 12:35PM  Zacks]
▶ RGA to Reinsure £900 Million Block of LV= Annuity Business   [Dec-19-17 09:00AM  Business Wire]
▶ How MetLifes Valuation Compares   [Dec-18-17 07:30AM  Market Realist]
▶ These too-big-to-fail banks are set to get a huge break   [Nov-14-17 10:50AM  Yahoo Finance Video]
▶ Reinsurance Group beats 3Q profit forecasts   [Oct-26-17 06:57PM  Associated Press]
▶ 6 Bargain Stocks Boosting Earnings   [Oct-04-17 05:31PM  GuruFocus.com]
▶ Hurricane Harvey Doesnt Have to Destroy Your Portfolio, Too   [Sep-08-17 11:00AM  InvestorPlace]
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