US life reinsurer Reinsurance Group of America has reported a fourth-quarter net loss because of capital losses and the costs of an arbitration settlement in its discontinued accident and health reinsurance operations.
The company reported a net loss of $28.1m (£20m), or 57 cents per share, compared with a net profit of $9.2m (£6.5m), or 19 cents per share, a year earlier.
The net loss included $23.4m (£16.5m) in after-tax net capital losses and a loss of $6.9m (£5m) from an arbitration settlement related to the company's discontinued health and accident segment.
Operating earnings from continuing operations were $2.2m (£1.5m), or 4 cents per share.
Fourth-quarter premiums increased 17% to $482m (£342m) from $413m (£293m).