CHESTERFIELD, Mo. (AP) _ Reinsurance Group of America Inc. (RGA) on Thursday reported first-quarter net income of $139 million, after reporting a loss in the same period a year earlier.
On a per-share basis, the Chesterfield, Missouri-based company said it had net income of $2.03. Losses, adjusted for non-recurring gains, were $1.24 per share.
The results fell short of Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 7 cents per share.
The reinsurance company posted revenue of $4.12 billion in the period. Its adjusted revenue was $3.82 billion.
Reinsurance Group shares have climbed 16% since the beginning of the year. The stock has increased 54% in the last 12 months.
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