Reinsurance Group of America (RGA) has reported total revenues of $2.1bn for the first quarter of 2010, an increase of 37% compared to $1.5bn for the same period last year.
Reinsurance Group of America’s operating income for the quarter were $93m, or $1.25 per share as compared to $67.3m, or $0.92 per share for the same period last year.
The company posted net premiums of $1.6bn for the first quarter of 2010, as compared to $1.3bn for the same quarter in 2009.
For the first quarter ended March 31, 2010, the company posted a net income of $122.4m, or $1.64 per share compared to $23.3m, or 0.32 per share for the same quarter in 2009.
Greig Woodring, president and CEO of Reinsurance Group of America, said: “Our capital and liquidity positions remain strong. The stability embedded in our balance sheet continues to improve, demonstrated by an increasing book value and strengthening investment portfolio. During the quarter, our net unrealized gain position improved by $148.4m and impairment losses were substantially reduced compared to 2009.”