The first mention of the company: Reinsurance Group of America ( RGA -7.86% ) reported a quarter marked by increased capital flexibility, driven by balance sheet optimization and rating agency recognition of value in-force credits. Management emphasized a diversified global pipeline, highlighting historic success in asset-intensive transactions across five countries and strong growth in Asia and EMEA, particularly in premium expansion and new business activity. Executives directly linked near-term margin and earnings headwinds to claims volatility and healthcare excess losses, but maintained confidence in repricing measures, portfolio quality, and ongoing strategic momentum. They clarified that the quarter's results do not prompt changes in run rate assumptions or intermediate-term financial targets.