Reinsurance Group Of America's Board Approves Stock Repurchase Program
Jack B. Lay
Executive Vice President and Chief Financial Officer
ST. LOUIS, August 5, 1998 - The board of directors of Reinsurance Group of America, Incorporated (NYSE:RGA, RGA.A) has approved a repurchase plan of the company’s non-voting stock (RGA.A) to prevent potential dilution and to accommodate shares that may be issuable under the company’s new stock option program, under which approximately 90,000 options for RGA.A shares have been granted. The program will involve purchases from time to time in the open market or through negotiated transactions.
Reinsurance Group of America, Incorporated, through its U.S. and Canadian subsidiaries, RGA Reinsurance Company and RGA Life Reinsurance Company of Canada, is one of the largest life reinsurers in North America. Reinsurance Group of America, Incorporated also operates through offices or subsidiary companies in Argentina, Australia, Barbados, Bermuda, Chile, Hong Kong, Japan, Mexico and the United Kingdom. Worldwide, it has more than $273 billion of life reinsurance in force. General American Life Insurance Company owns approximately 64 percent of RGA’s outstanding voting shares and 52 percent of all shares outstanding.
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