Reinsurance Group of America has reported total revenues of $1.9bn for the second quarter of 2010, an increase of 6.5% compared to $1.8bn for the same quarter in 2009.
The company reported net premiums of $1.6bn for the second quarter of 2010, which is an increase of 15% compared to $1.37bn for the same period last year.
The company posted income before income taxes of $198m for the second quarter of 2010 compared to $215m for the same quarter in 2009.
For the quarter ended June 30, 2010, the company posted a net income of $127m, or $1.70 per diluted share, compared to $153.1m, or $2.10 per diluted share, for the same period last year.
Greig Woodring, president and CEO of Reinsurance Group of America, said: “Our book value continues to rise with stable earnings contributions and a strengthening investment portfolio. During the quarter, our net unrealized gain position improved by $217.5m and our book value increased $277.3m, up 7% on a per-share basis, to $60.73 per share.
“Our investment portfolio has recovered nicely following last year’s market turmoil, and credit-related impairments of individual securities remain quite manageable.”