Reinsurance Group of America (NYSE: RGA) reported Q2 EPS of $3.10, $0.04 worse than the analyst estimate of $3.14. Revenue for the quarter came in at $3.2 billion versus the consensus estimate of $3.24 billion.

• Earnings per diluted share: $3.13 from net income, $3.10 from adjusted operating income*
• ROE 20.2 percent and adjusted operating ROE* 9.9 percent for the trailing twelve months
• Reported net premiums increased 5 percent in the second quarter
• Quarterly shareholder dividend raised 20 percent to $0.60 per quarter

Anna Manning, president and chief executive officer, commented, “On balance, this was a good quarter as many of our key businesses reported strong or in-line results. Our U.S. Individual Mortality business bounced back this quarter as mortality experience was in line with our expectations, while both EMEA and Asia performed very well overall. However, we did have disappointing results from parts of our U.S. Group business, and we will continue to take rate action in select areas as appropriate. Consolidated premium growth of 5 percent reflected a tough comparison with a year-ago quarter that included some catch-up premiums, and our underlying momentum remains very good.

“After a strong first quarter, deployment into in-force and other transactions was on the light side in terms of capital usage, but we did close on a number of attractive transactions, and we remain optimistic about the environment and our pipeline. As indicated at our recent Investor Day, we were active in the quarter in regard to share repurchases, deploying $150.0 million to repurchase approximately 991,000 shares. We ended the quarter with an excess capital position of approximately $1.2 billion, down slightly from the previous quarter. We continue to pursue a balanced approach to capital management through deployment of capital into in-force and other attractive transactions, share repurchases and shareholder dividends. Book value per share was $135.09 including AOCI, and $119.31 excluding AOCI.

“Overall, we remain optimistic about our business prospects, and in recognition of our ongoing earnings power, the board increased the common stock dividend by 20 percent, marking the ninth straight year of double-digit percentage increases.”

For earnings history and earnings-related data on Reinsurance Group of America (RGA) click here.