Reinsurance Group of America Inc. announced unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2011. For the quarter, the company reported net income of $158.5 million, or $2.15 per diluted share, compared to $196.7 million, or $2.62 per diluted share in the prior-year quarter. Operating income totaled $140.7 million, or $1.91 per diluted share, compared to $161.4 million, or $2.15 per diluted share in the year-ago quarter. Net premiums were $2,034.72 million against $1,801.9 million for the same period a year ago. Income before income taxes was $220.59 million against $275.26 million for the same period a year ago. Pre-tax operating income was $195.38 million against $221.11 million for the same period a year ago. Total revenues were $2,348.22 million against $2,274.13 million for the same period a year ago. For the year, the company reported net income of $599.62 million, or $8.09 per diluted share, compared to $574.4 million, or $7.69 per diluted share in the prior-year quarter. Operating income totaled $539.17 million, or $7.28 per diluted share, compared to $504.03 million, or $6.75 per diluted share in the year-ago quarter. Net premiums were $7,335.69 million against $6,659.68 million for the same period a year ago. Book value per share as on December 31, 2011 was $83.65 against $68.71 as at December 31, 2010. Net premiums increased $676.0 million, or 10%, including the effects of currency fluctuations and 8% without them. Income before income taxes was $834.38 million against $863.82 million for the same period a year ago. Pre-tax operating income was $746.41 million against $757.05 million for the same period a year ago. Total revenues were $8,829.54 million against $8,261.73 million for the same period a year ago. The company provides earnings guidance for the year 2012. Management projects 2012 operating income per diluted share to be within a range of $6.70 to $7.30. This guidance assumes an expected level of death claims, which are prone to normal short-term statistical fluctuations that can significantly affect results on quarterly and annual bases. Additionally, the guidance reflects adverse effects of approximately $0.55 and $0.15 per diluted share related to the adoption of new deferred acquisition cost accounting guidance and lower anticipated investment yields in 2012, respectively. Finally, the guidance assumes that Congress will pass an extension of the active financing exception legislation this year. If that legislation is not extended for any reason, the company estimates its tax provision would increase by approximately $15 million for the year, reducing earnings by approximately $0.20 per diluted share. On a U.S. dollar basis, the company expects consolidated net premiums to increase by approximately 7% to 9%. The company announced that Stanley B. Tulin, retired vice chairman and chief financial officer of AXA Financial Inc., was elected to the board of directors effective January 26, 2012. Tulin will serve as a member of the audit and compensation committees. The company also announced that Stuart Greenbaum retired from the board of directors. The board of directors declared a regular quarterly dividend of $0.18, payable on March 2, 2012 to shareholders of record as of February 10, 2012.