RGA FY net income tumbles nearly 40%
US life reinsurer Reinsurance Group of America said that full year net income for 2008 tumbled nearly 40% after losses on investment securities spiralled.
The company said that gross unrealised losses on investment securities jumped to just over $1.416bn from $960.6m at September 30.
The writedowns forced net income for the year to fall to $176.8m from
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