8-K Announcements
6May 7, 2026·SEC
May 1, 2026·SEC
Mar 20, 2026·SEC
Reinsurance Group of America, Incorporated (RGA) fundamental analysis — strengths, weaknesses & financial health based on data analysis
No significant weaknesses identified
* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.
Reinsurance Group of America, Incorporated (RGA) stock price & volume — 10-year historical chart
Reinsurance Group of America, Incorporated (RGA) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR
Reinsurance Group of America, Incorporated (RGA) EPS & revenue vs analyst estimates — last 4 quarters
| Quarter | Date | EPS (Act vs Est) | Revenue (Act vs Est) |
|---|---|---|---|
| Q1 2026Latest | Feb 5, 2026 | $7.75vs $5.78+34.1% | $6.6Bvs $6.3B+5.1% |
| Q4 2025 | Oct 30, 2025 | $6.37vs $5.76+10.6% | $6.2Bvs $6.1B+2.4% |
| Q3 2025 | Jul 31, 2025 | $4.72vs $5.58-15.4% | $5.6Bvs $6.0B-6.7% |
| Q2 2025 | May 1, 2025 | $5.66vs $5.31+6.6% | $5.3Bvs $5.6B-5.8% |
Reinsurance Group of America, Incorporated (RGA) competitors in Life and health reinsurers — business model, growth, and fundamentals comparison
Reinsurance Group of America, Incorporated (RGA) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
Reinsurance Group of America, Incorporated (RGA) annual income statement — 10-year revenue, gross profit & net income history
| Line item | Dec'17 | Dec'18 | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | 12.52B | 12.88B | 14.2B | 14.58B | 16.06B | 15.88B | 18.39B | 22.04B | 22.79B |
| Revenue Growth % | 8.63% | 2.88% | 10.27% | 2.71% | 10.13% | -1.13% | 15.82% | 19.85% | 3.39% |
| Medical Costs & Claims | 10.49B | 11.07B | 12.1B | 13.04B | 14.21B | 14.31B | 16.06B | 19.55B | 17B |
| Medical Cost Ratio % | 83.8% | 85.95% | 85.2% | 89.41% | 88.46% | 90.11% | 87.33% | 88.71% | 74.6% |
| Gross Profit | 2.03B▲ 0% | 1.81B▼ 10.8% | 2.1B▲ 16.1% | 1.54B▼ 26.5% | 1.85B▲ 20.1% | 1.57B▼ 15.3% | 2.33B▲ 48.4% | 2.49B▲ 6.7% | 5.79B▲ 132.6% |
| Gross Margin % | 16.2% | 14.05% | 14.8% | 10.59% | 11.54% | 9.89% | 12.67% | 11.29% | 25.4% |
| Gross Profit Growth % | 9.45% | -10.8% | 16.14% | -26.51% | 20.08% | -15.26% | 48.38% | 6.74% | 132.64% |
| Operating Expenses | 885M | 963M | 969M | 991M | 469M | 853M | 1.17B | 1.51B | 4.25B |
| OpEx / Revenue % | 7.07% | 7.48% | 6.82% | 6.8% | 2.92% | 5.37% | 6.37% | 6.84% | 18.64% |
| Depreciation & Amortization | 53M | 45M | 49M | 49M | 43M | 38M | 41M | 46M | 43M |
| Combined Ratio % | 90.87% | 93.43% | 92.03% | 96.21% | 91.38% | 95.48% | 93.69% | 95.55% | 93.24% |
| Operating Income | 1.14B▲ 0% | 846M▼ 26.0% | 1.13B▲ 33.8% | 553M▼ 51.1% | 1.39B▲ 150.5% | 718M▼ 48.2% | 1.16B▲ 61.6% | 980M▼ 15.5% | 1.54B▲ 57.1% |
| Operating Margin % | 9.13% | 6.57% | 7.97% | 3.79% | 8.62% | 4.52% | 6.31% | 4.45% | 6.76% |
| Operating Income Growth % | 9.49% | -25.98% | 33.81% | -51.15% | 150.45% | -48.16% | 61.56% | -15.52% | 57.14% |
| EBITDA | 1.2B | 891M | 1.18B | 602M | 1.43B | 756M | 1.2B | 1.03B | 1.58B |
| EBITDA Margin % | 9.56% | 6.92% | 8.32% | 4.13% | 8.89% | 4.76% | 6.53% | 4.65% | 6.95% |
| Interest Expense | 146M | 147M | 173M | 170M | 139M | 191M | 257M | 304M | 366M |
| Non-Operating Income | -146M | -147M | -173M | -170M | -139M | -191M | -257M | -304M | -366M |
| Pretax Income | 1.14B▲ 0% | 846M▼ 26.0% | 1.13B▲ 33.8% | 553M▼ 51.1% | 1.39B▲ 150.5% | 718M▼ 48.2% | 1.16B▲ 61.6% | 980M▼ 15.5% | 1.54B▲ 57.1% |
| Pretax Margin % | 9.13% | 6.57% | 7.97% | 3.79% | 8.62% | 4.52% | 6.31% | 4.45% | 6.76% |
| Income Tax | -679M | 130M | 262M | 138M | 215M | 197M | 251M | 256M | 351M |
| Effective Tax Rate % | -59.41% | 15.37% | 23.14% | 24.95% | 15.52% | 27.44% | 21.64% | 26.12% | 22.79% |
| Net Income | 1.82B▲ 0% | 716M▼ 60.7% | 870M▲ 21.5% | 415M▼ 52.3% | 1.17B▲ 181.9% | 517M▼ 55.8% | 902M▲ 74.5% | 717M▼ 20.5% | 1.18B▲ 64.9% |
| Net Margin % | 14.56% | 5.56% | 6.13% | 2.85% | 7.28% | 3.26% | 4.9% | 3.25% | 5.19% |
| Net Income Growth % | 159.75% | -60.7% | 21.51% | -52.3% | 181.93% | -55.81% | 74.47% | -20.51% | 64.85% |
| EPS (Diluted) | 27.71▲ 0% | 11.00▼ 60.3% | 13.62▲ 23.8% | 6.31▼ 53.7% | 9.04▲ 43.3% | 7.64▼ 15.5% | 13.44▲ 75.9% | 10.73▼ 20.2% | 17.69▲ 64.9% |
| EPS Growth % | 156.81% | -60.3% | 23.82% | -53.67% | 43.26% | -15.49% | 75.92% | -20.16% | 64.86% |
| EPS (Basic) | 28.28 | 11.25 | 13.88 | 6.35 | 9.10 | 7.73 | 13.60 | 10.90 | 17.94 |
| Diluted Shares Outstanding | 65.75M | 65.09M | 63.88M | 65.8M | 68.3M | 67.7M | 67.1M | 66.9M | 66.73M |
Reinsurance Group of America, Incorporated (RGA) balance sheet — assets, liabilities & shareholders' equity
| Line item | Dec'17 | Dec'18 | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 |
|---|---|---|---|---|---|---|---|---|---|
| Total Assets | 60.51B | 64.54B | 76.73B | 84.66B | 92.17B | 84.9B | 97.62B | 118.67B | 156.59B |
| Asset Growth % | 13.97% | 6.64% | 18.9% | 10.33% | 8.88% | -7.89% | 14.98% | 21.56% | 31.95% |
| Total Investment Assets | 51.69B | 54.21B | 66.56B | 72.4B | 78.53B | 70.48B | 78.9B | 98.04B | 130.48B |
| Long-Term Investments | 51.69B | 54.21B | 66.56B | 72.4B | 78.53B | 70.48B | 78.9B | 98.04B | 130.48B |
| Short-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Current Assets | 3.64B | 4.91B | 4.39B | 6.25B | 5.84B | 5.94B | 6.5B | 7.22B | 8.64B |
| Cash & Equivalents | 1.3B | 1.89B | 1.45B | 3.41B | 2.95B | 2.93B | 2.97B | 3.33B | 4.17B |
| Receivables | 2.34B | 3.02B | 2.94B | 2.84B | 2.89B | 3.01B | 3.53B | 3.9B | 4.47B |
| Other Current Assets | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Goodwill & Intangibles | 204.8M | 40M | 33M | 25M | 12M | 14M | 11M | 8M | 6M |
| Goodwill | 7M | 7M | 7M | 7M | 7M | 0 | 0 | 0 | 0 |
| Intangible Assets | 197.8M | 33M | 26M | 18M | 5M | 14M | 11M | 8M | 6M |
| PP&E (Net) | 302.2M | 302.1M | 296M | 291M | 284M | 408M | 416M | 450M | 480M |
| Other Assets | 4.67B | 5.08B | 5.46B | 5.69B | 7.51B | 8.06B | 11.8B | 12.95B | 16.98B |
| Total Liabilities | 50.95B | 56.08B | 65.13B | 70.3B | 79.16B | 77.73B | 88.45B | 107.77B | 143.04B |
| Total Debt | 3.57B | 3.47B | 3.58B | 3.96B | 3.85B | 3.96B | 4.43B | 5.04B | 5.71B |
| Net Debt | 2.27B | 1.58B | 2.13B | 553M | 899M | 1.03B | 1.46B | 1.72B | 1.54B |
| Long-Term Debt | 3.57B | 3.47B | 3.58B | 3.96B | 3.85B | 3.96B | 4.43B | 5.04B | 5.71B |
| Short-Term Debt | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Current Liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accounts Payable | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Deferred Revenue | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Current Liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Deferred Taxes | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K |
| Other Liabilities | 45.17B | 50.82B | 58.84B | 63.08B | 72.43B | 72.39B | 82.16B | 100.53B | 134.33B |
| Total Equity | 9.57B▲ 0% | 8.45B▼ 11.7% | 11.6B▲ 37.3% | 14.35B▲ 23.7% | 13.01B▼ 9.3% | 7.17B▼ 44.9% | 9.17B▲ 27.9% | 10.91B▲ 18.9% | 13.55B▲ 24.3% |
| Equity Growth % | 34.91% | -11.69% | 37.28% | 23.71% | -9.32% | -44.9% | 27.89% | 18.92% | 24.25% |
| Shareholders Equity | 9.57B | 8.45B | 11.6B | 14.35B | 13.01B | 7.08B | 9.08B | 10.82B | 13.46B |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 90M | 90M | 90M | 90M |
| Retained Earnings | 6.74B | 7.28B | 7.95B | 8.15B | 8.56B | 8.17B | 8.8B | 9.26B | 10.15B |
| Common Stock | 791K | 791K | 1M | 1M | 1M | 1M | 1M | 1M | 1M |
| Accumulated OCI | 2.06B | 636.76M | 3.14B | 5.36B | 3.64B | -1.87B | -369M | 849M | 2.68B |
| Return on Equity (ROE) | 21.87% | 7.95% | 8.68% | 3.2% | 8.55% | 5.12% | 11.04% | 7.14% | 9.67% |
| Return on Assets (ROA) | 3.21% | 1.15% | 1.23% | 0.51% | 1.32% | 0.58% | 0.99% | 0.66% | 0.86% |
| Equity / Assets | 15.81% | 13.09% | 15.12% | 16.95% | 14.12% | 8.45% | 9.39% | 9.19% | 8.65% |
| Debt / Equity | 0.37x | 0.41x | 0.31x | 0.28x | 0.30x | 0.55x | 0.48x | 0.46x | 0.42x |
| Book Value per Share | 145.54 | 129.82 | 181.60 | 218.12 | 190.54 | 105.92 | 136.68 | 163.02 | 203.07 |
| Tangible BV per Share | 142.42 | 129.21 | 181.08 | 217.74 | 190.37 | 105.72 | 136.51 | 162.90 | 202.98 |
Reinsurance Group of America, Incorporated (RGA) cash flow — operating, investing & free cash flow history
| Line item | Dec'17 | Dec'18 | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 |
|---|---|---|---|---|---|---|---|---|---|
| Cash from Operations | 1.98B | 1.58B | 2.31B | 3.32B | 4.18B | 1.34B | 4.04B | 9.37B | 4.09B |
| Operating CF Growth % | 35.24% | -20.24% | 45.91% | 44% | 25.89% | -67.89% | 201.12% | 131.7% | -56.34% |
| Operating CF / Revenue % | 15.84% | 12.28% | 16.25% | 22.78% | 26.04% | 8.46% | 21.99% | 42.51% | 17.95% |
| Net Income | 1.82B | 715.84M | 870M | 415M | 617M | 517M | 902M | 717M | 1.18B |
| Depreciation & Amortization | 53M | 45.13M | 49M | 3M | -11M | 38M | 41M | 46M | 43M |
| Stock-Based Compensation | 0 | 0 | 39M | 0 | 0 | 0 | 0 | 0 | 0 |
| Deferred Taxes | 0 | 76.51M | 0 | -16M | 0 | 0 | 0 | 0 | 0 |
| Other Non-Cash Items | -249.14M | 5.38M | -31M | -62M | -731M | 346M | -34M | 343M | -301M |
| Working Capital Changes | 356.27M | 738.26M | 1.38B | 2.98B | 4.31B | 442M | 3.13B | 8.26B | 3.17B |
| Cash from Investing | -1.61B | -636.55M | -2.64B | -2.68B | -4.63B | -5.69B | -4.07B | -12.54B | -12.09B |
| Capital Expenditures | -44.21M | -28.89M | -34M | -28M | -19M | -25M | 0 | 0 | 0 |
| Acquisitions | 0 | -31.44M | 4M | -173M | -287M | 17M | -77M | -320M | 0 |
| Purchase of Investments | -8.94B | -10.1B | -16.28B | -10.26B | -18.28B | -17.07B | -13.25B | -41.69B | -43.67B |
| Sale/Maturity of Investments | 8.04B | 10.14B | 14.11B | 7.67B | 13.83B | 11.47B | 8.55B | 30.49B | 32.19B |
| Other Investing | -657.07M | -615.69M | -442M | 115M | 129M | -77M | 711M | -1.03B | -613M |
| Cash from Financing | -324.62M | -321.97M | -121M | 1.25B | 20M | 4.44B | 78M | 3.66B | 8.8B |
| Dividends Paid | -117.29M | -140.11M | -163M | -182M | -194M | -205M | -219M | -229M | -240M |
| Share Repurchases | -44M | -299.68M | -101M | -163M | -99M | -81M | -227M | -27M | -174M |
| Stock Issued | 0 | 0 | 0 | 481M | 0 | 0 | 0 | 0 | 4M |
| Debt Issuance (Net) | -1000K | -1000K | 1000K | 1000K | -1000K | 1000K | 1000K | 1000K | 1000K |
| Other Financing | 207.67M | 217.14M | 38M | 737M | 430M | 4.62B | 62M | 3.31B | 8.55B |
| Net Change in Cash | 102.81M▲ 0% | 586.21M▲ 470.2% | -441M▼ 175.2% | 1.96B▲ 544.2% | -460M▼ 123.5% | -21M▲ 95.4% | 43M▲ 304.8% | 356M▲ 727.9% | 842M▲ 136.5% |
| Exchange Rate Effect | 52.69M | -36.39M | 11M | 63M | -34M | -112M | -13M | -130M | 47M |
| Cash at Beginning | 1.2B | 1.3B | 1.89B | 1.45B | 3.41B | 2.95B | 2.93B | 2.97B | 3.33B |
| Cash at End | 1.3B | 1.89B | 1.45B | 3.41B | 2.95B | 2.93B | 2.97B | 3.33B | 4.17B |
| Free Cash Flow | 1.94B▲ 0% | 1.55B▼ 19.9% | 2.27B▲ 46.4% | 3.29B▲ 44.9% | 4.16B▲ 26.4% | 1.32B▼ 68.3% | 4.04B▲ 206.8% | 9.37B▲ 131.7% | 4.09B▼ 56.3% |
| FCF Growth % | 36.38% | -19.91% | 46.43% | 44.92% | 26.38% | -68.34% | 206.83% | 131.7% | -56.34% |
| FCF Margin % | 15.48% | 12.06% | 16.01% | 22.59% | 25.92% | 8.3% | 21.99% | 42.51% | 17.95% |
| FCF per Share | 29.48 | 23.85 | 35.58 | 50.06 | 60.95 | 19.47 | 60.27 | 140.06 | 61.31 |
Reinsurance Group of America, Incorporated (RGA) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios
| Metric | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Combined Ratio | 90.94% | 90.87% | 93.43% | 92.03% | 96.21% | 91.38% | 95.48% | 93.69% | 95.55% | 93.24% |
| Medical Cost Ratio | 83.92% | 83.8% | 85.95% | 85.2% | 89.41% | 88.46% | 90.11% | 87.33% | 88.71% | 74.6% |
| Return on Equity (ROE) | 10.61% | 21.87% | 7.95% | 8.68% | 3.2% | 8.55% | 5.12% | 11.04% | 7.14% | 9.67% |
| Return on Assets (ROA) | 1.36% | 3.21% | 1.15% | 1.23% | 0.51% | 1.32% | 0.58% | 0.99% | 0.66% | 0.86% |
| Equity / Assets | 13.36% | 15.81% | 13.09% | 15.12% | 16.95% | 14.12% | 8.45% | 9.39% | 9.19% | 8.65% |
| Book Value / Share | 109.14 | 145.54 | 129.82 | 181.6 | 218.12 | 190.54 | 105.92 | 136.68 | 163.02 | 203.07 |
| Debt / Equity | 0.55x | 0.37x | 0.41x | 0.31x | 0.28x | 0.30x | 0.55x | 0.48x | 0.46x | 0.42x |
| Revenue Growth | 10.59% | 8.63% | 2.88% | 10.27% | 2.71% | 10.13% | -1.13% | 15.82% | 19.85% | 3.39% |
Reinsurance Group of America, Incorporated (RGA) SEC filings — annual & quarterly reports (10-K, 10-Q)
May 7, 2026·SEC
May 1, 2026·SEC
Mar 20, 2026·SEC
Reinsurance Group of America, Incorporated (RGA) stock FAQ — growth, dividends, profitability & financials explained
Reinsurance Group of America, Incorporated (RGA) grew revenue by 3.4% over the past year. Growth has been modest.
Yes, Reinsurance Group of America, Incorporated (RGA) is profitable, generating $1.18B in net income for fiscal year 2025 (5.2% net margin).
Yes, Reinsurance Group of America, Incorporated (RGA) pays a dividend with a yield of 1.69%. This makes it attractive for income-focused investors.
Reinsurance Group of America, Incorporated (RGA) has a return on equity (ROE) of 9.7%. This is below average, suggesting room for improvement.
Reinsurance Group of America, Incorporated (RGA) has a combined ratio of 93.2%. A ratio below 100% indicates underwriting profitability.
Reinsurance Group of America, Incorporated (RGA) financial analysis — history, returns, DCA and operating performance tools
Analyst verdict, bull/bear case, risk factors and peer comparison
Historical returns with dividends reinvested
Dollar cost averaging vs lump sum
Yield, growth, payout safety & DRIP
EPS trends, net income & profitability
Long-term charts & historical price data
Sales growth patterns & revenue breakdown
30 years of market, efficiency and balance-sheet ratios
DCF intrinsic value, peer multiples & estimates