Reinsurance Group of America, Inc. (NYSE:RGA) Q1 2022 Earnings Conference Call May 6, 2022 10:00 AM ET

Company Participants

Todd Larson - Senior EVP & CFO

Anna Manning - President & CEO

Leslie Barbi - EVP & CIO

Jonathan Porter - EVP & Global Chief Risk Officer

Conference Call Participants

John Barnidge - Piper Sandler & Co.

Jamminder Bhullar - JPMorgan Chase & Co.

Andrew Kligerman - Crédit Suisse

Erik Bass - Autonomous Research

Alexander Scott - Goldman Sachs Group

Ryan Krueger - KBW

Daniel Bergman - Jefferies

Operator

Good day, and welcome to the Reinsurance Group of America First Quarter 2022 Results Conference Call. Today's call is being recorded. At this time, I would like to introduce Mr. Todd Larson, Senior Executive Vice President and Chief Financial Officer; and Ms. Anna Manning, President and Chief Executive Officer. Please go ahead, Mr. Larson.

Todd Larson

Thank you. Good morning, and welcome to RGA's first quarter 2022 conference call. With me this morning on the call is Anna Manning, RGA's President and Chief Executive Officer; Leslie Barbi, our Chief Investment Officer; Jonathan Porter, our Chief Risk Officer; and Jeff Hopson, the Head of our Investor Relations. We will discuss the first quarter results after a quick reminder about forward-looking information and non-GAAP financial measures. Following our prepared remarks, we'll be happy to take your questions.

Some of our comments or answers to your questions may contain forward-looking statements. Actual results could differ materially from expected results. Please refer to the earnings release we issued yesterday for a list of important factors that could cause actual results to differ materially from expected results.

Additionally, during the course of this call, information we provide may include non-GAAP financial measures. Please see our earnings release, earnings presentation, quarterly financial supplement and website for a discussion of these terms and reconciliations to GAAP measures.

And now I'll turn the call over to Anna for her comments.

Anna Manning

Thank you, Todd. Good morning, everyone, and thank you for joining our call this morning.

Last night, we reported adjusted operating EPS of $0.47, which included a COVID-19 impact of $310 million pretax or $3.48 per share. We are encouraged by the results this quarter as we reported positive operating earnings despite absorbing a meaningful level of COVID-19 claims. There are also many bright spots throughout the business, and I consider this to be a very good start to the year.