Reinsurance Group misses 1Q profit forecasts

CHESTERFIELD, Mo. (AP) _ Reinsurance Group of America Inc. (RGA) on Thursday reported first-quarter net income of $145.5 million.

On a per-share basis, the Chesterfield, Missouri-based company said it had net income of $2.22. Earnings, adjusted for investment gains, came to $1.86 per share.

The results missed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $2.11 per share.

The reinsurance company posted revenue of $3.01 billion in the period.

Reinsurance Group shares have risen 3 percent since the beginning of the year. In the final minutes of trading on Thursday, shares hit $129.59, a climb of 34 percent in the last 12 months.

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on RGA at https://www.zacks.com/ap/RGA

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