Last night, we reported a loss of $1.24 in adjusted operating EPS, which included $474 million in COVID-19 impacts or $5.31 per share.
During the quarter, we completed a number of in-force transactions, deploying $100 million in capital, which will further add value to our underlying earnings engine.
I'm also proud to announce that for the 10th consecutive year, RGA has been ranked #1 for business capabilities on a global basis by NMG in their 2020 global reinsurance report.
And our mortality performance over the past 12 months, after adjusting for COVID-19 claims, has been in line with our expectations.
As a final point, it is worth reflecting that through the end of the first quarter, RGA has incurred over $1.2 billion in COVID-19 claims since the pandemic began.
RGA reported a loss for the quarter of $115 million on a pre-tax adjusted operating basis.
Adjusted operating earnings per share was a loss of $1.24 per share, which includes COVID-19 impacts of $5.31 per share.
Our trailing 12-month adjusted operating ROE was 3.7%, which was reduced by COVID-19 impacts of 8.8%.
Reported premiums increased 3% in the quarter.
Growth was 5%, excluding the premium decline in Australia, reflecting our continued caution in that market.
The effective tax rate on pre-tax adjusted operating loss was 26.9% for the quarter, above the expected range of 23% to 24% due to the geographical mix of the earnings.
Beginning with the U.S., the U.S. and Latin America traditional segment reported a pre-tax, adjusted operating loss of $344 million in the quarter, including COVID-19 claim cost of $358 million.
For individual mortality, approximately $340 million of claim costs are attributed to COVID-19.
It is important to note that our mortality experience over the past 12 months, excluding COVID-19, was in line with our expectations.
The traditional segment, first quarter results reflected COVID-19 claim cost of approximately $26 million.
We estimate the COVID-19 claim cost for the EMEA traditional segment in the quarter were $98 million.
The Corporate and Other segment reported pre-tax adjusted operating income of $94 million.
The non spread portfolio yield for the quarter was 5.67%, reflecting strong variable investment income.
Excluding the previously mentioned accounting correction, the yield was 4.52%, as we had strong contribution this quarter from the limited partnership investments.
The U.S. continues to be the driver of our mortality claim costs, accounting for 74% of our global total.
This was approximately $17 million per 10,000 U.S. general population deaths at the lower end of our model estimates and very consistent with the prior quarter.
All other markets combined, accounted for approximately 10% of our COVID-19 mortality claim costs in line with our expectations, with the majority of this coming from South Africa, consistent with the high level of general population death they experienced this quarter.
India accounted for less than 1% of our COVID-19 claim costs in the quarter.
Since the beginning of the pandemic, over the last 12 months, South Africa has accounted for approximately 5% of our COVID-19 mortality claim costs and India approximately 2%.
Going forward, the ultimate longevity offset to our global mortality claim costs may be lower than our 10% rule of thumb, given our concentration of this business in the U.K. and the success of their vaccination efforts to date.

Summary:
Last night, we reported a loss of $1.24 in adjusted operating EPS, which included $474 million in COVID-19 impacts or $5.31 per share.
Adjusted operating earnings per share was a loss of $1.24 per share, which includes COVID-19 impacts of $5.31 per share.
Reported premiums increased 3% in the quarter.