7 Hot Insurance Stocks To Buy Right Now

4. Reinsurance Group of America Incorporated (NYSE:RGA)

Year-to-Date Performance: 30.34%

Number of Hedge Fund Holders: 40

Reinsurance Group of America, Incorporated (NYSE:RGA) is a leading global corporation specializing in life and health reinsurance. The company operates in over 100 countries, focusing on solutions that help clients manage risk and optimize capital. RGA provides reinsurance for various products, including term life, critical illness, disability, and long-term care. The company had $3.7 trillion in life reinsurance in force as of December 31, 2023.

In its Q2 2024 earnings call, the company’s management highlighted strong growth in its Longevity and Pension Risk Transfer (PRT) business. Reinsurance Group of America, Incorporated (NYSE:RGA) completed significant transactions in both the US and the UK, including a notable longevity deal in Japan and its largest US PRT transaction to date. RGA’s asset-intensive business in Asia is also thriving, with successful partnerships leading to the completion of major transactions that enhance clients’ long-term value.

Additionally, Reinsurance Group of America, Incorporated (NYSE:RGA) continues to innovate with new offerings, such as a market-first digital underwriting solution aimed at simplifying the insurance purchasing process for Mainland Chinese visitors in Hong Kong. This initiative reflects RGA’s commitment to providing comprehensive product development alongside capital and underwriting solutions to fuel client growth.

For the second quarter of 2024, RGA reported pre-tax adjusted operating income of $491 million and adjusted earnings per share of $5.48. The company experienced a 17.5% increase in consolidated net premiums, totaling $3.9 billion for the quarter. This growth includes $282 million from a single premium US PRT transaction in the company’s financial solutions business.

On August 27, 2024, Reinsurance Group of America, Incorporated (NYSE:RGA) announced an agreement with American National Insurance Company to reinsure approximately $3.5 billion of life business through a coinsurance arrangement. This deal further solidifies RGA’s position as a trusted partner in the reinsurance market.

Overall, RGA’s strategic focus on innovative solutions, strong financial performance, and expanding global presence make it an attractive investment opportunity.

According to Insider Monkey’s Q2 database of over 900 hedge funds, 40 hedge funds held stakes in Reinsurance Group of America, Incorporated (NYSE:RGA).