The firm’s trading statement reveals profits reached £55.2m in Q2 2008, compared to £38.7m during Q2 2007.
Europe and South Africa collectively saw pre-tax net income increase to £8.5m from £5.9m a year ago.
RGA president and chief executive A Greig Woodring says: “Our results so far this year reflect the short-term volatility that is a part of our business. However, we continue to successfully execute our business plan, with our book value per share growing in the 13 to 14 percent range on a compound basis since our initial public offering in 1993.”
RGA says its sub-prime mortgage book remains “modest” at £128m, while investment-related writedowns were less than £500,000.