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6May 1, 2026·SEC
Mar 20, 2026·SEC
Mar 19, 2026·SEC
Reinsurance Group of America, Incorporated (RZB) 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 (RZB) stock price & volume — 10-year historical chart
Reinsurance Group of America, Incorporated (RZB) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR
Reinsurance Group of America, Incorporated (RZB) 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 29, 2025 | $3.78vs $5.76-34.4% | $6.2Bvs $6.1B+2.0% |
| Q3 2025 | Jul 30, 2025 | $2.69vs $5.55-51.5% | $5.6Bvs $6.4B-12.3% |
| Q2 2025 | May 1, 2025 | $0.00vs $5.31-99.9% | $5Mvs $6M-7.6% |
Reinsurance Group of America, Incorporated (RZB) competitors in Life and health reinsurers — business model, growth, and fundamentals comparison
Reinsurance Group of America, Incorporated (RZB) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
Reinsurance Group of America, Incorporated (RZB) 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 | 14.3B | 14.59B | 16.65B | 16.22B | 18.57B | 22.11B | 23.7B |
| Revenue Growth % | 8.63% | 2.88% | 11.07% | 2.03% | 14.11% | -2.61% | 14.49% | 19.07% | 7.2% |
| Medical Costs & Claims | 710.7K | 786K | 868M | 816M | 936M | 1.01B | 0 | 0 | 17B |
| Medical Cost Ratio % | 0.01% | 0.01% | 6.07% | 5.59% | 5.62% | 6.22% | 0% | 0% | 71.75% |
| Gross Profit | 12.51B▲ 0% | 12.88B▲ 2.9% | 13.43B▲ 4.3% | 13.78B▲ 2.6% | 16.67B▲ 21.0% | 15.21B▼ 8.8% | 18.57B▲ 22.1% | 22.11B▲ 19.1% | 6.7B▼ 69.7% |
| Gross Margin % | 99.99% | 99.99% | 93.93% | 94.41% | 100.1% | 93.78% | 100% | 100% | 28.29% |
| Gross Profit Growth % | 8.63% | 2.88% | 4.33% | 2.55% | 20.99% | -8.75% | 22.09% | 19.07% | -69.68% |
| Operating Expenses | 2.18B | 2.11B | 2.07B | 2.08B | 55M | 45M | 46M | 60M | 5.16B |
| OpEx / Revenue % | 17.4% | 16.38% | 14.49% | 14.23% | 0.33% | 0.28% | 0.25% | 0.27% | 21.79% |
| Depreciation & Amortization | 52.9M | 45.13M | 49M | 49M | 0 | 38M | 0 | 0 | 0 |
| Combined Ratio % | 17.4% | 16.38% | 20.56% | 19.83% | 5.95% | 6.5% | 0.25% | 0.27% | 93.54% |
| Operating Income | 1.32B▲ 0% | 1.02B▼ 22.4% | 1.33B▲ 30.4% | 740M▼ 44.5% | 823M▲ 11.2% | 909M▲ 10.4% | 18.52B▲ 1937.5% | 22.05B▲ 19.0% | 1.54B▼ 93.0% |
| Operating Margin % | 10.53% | 7.95% | 9.33% | 5.07% | 4.94% | 5.61% | 99.75% | 99.73% | 6.5% |
| Operating Income Growth % | 9.16% | -22.38% | 30.4% | -44.53% | 11.22% | 10.45% | 1937.51% | 19.04% | -93.01% |
| EBITDA | 1.37B | 1.07B | 1.38B | 789M | 823M | 947M | 1.42B | 1.29B | 1.54M |
| EBITDA Margin % | 10.95% | 8.3% | 9.67% | 5.41% | 4.94% | 5.84% | 7.63% | 5.86% | 0.01% |
| Interest Expense | 146K | 147K | 203M | 183M | 132M | 191M | 257M | 315M | 366M |
| Non-Operating Income | 11.18B | 177.09M | 12.93B | 0 | 0 | 0 | 0 | 0 | -374M |
| Pretax Income | 1.14B▲ 0% | 845.82M▼ 26.0% | 1.13B▲ 33.8% | 553M▼ 51.1% | 691M▲ 25.0% | 718M▲ 3.9% | 1.16B▲ 61.6% | 980M▼ 15.5% | 1.54B▲ 57.1% |
| Pretax Margin % | 9.13% | 6.57% | 7.92% | 3.79% | 4.15% | 4.43% | 6.25% | 4.43% | 6.5% |
| Income Tax | -679.37M | 129.98M | 262M | 138M | 74M | 197M | 251M | 256M | 351M |
| Effective Tax Rate % | -59.45% | 15.37% | 23.14% | 24.95% | 10.71% | 27.44% | 21.64% | 26.12% | 22.79% |
| Net Income | 1.82B▲ 0% | 715.84M▼ 60.7% | 870M▲ 21.5% | 415M▼ 52.3% | 617M▲ 48.7% | 517M▼ 16.2% | 902M▲ 74.5% | 717M▼ 20.5% | 1.18B▲ 64.9% |
| Net Margin % | 14.56% | 5.56% | 6.08% | 2.84% | 3.71% | 3.19% | 4.86% | 3.24% | 4.99% |
| Net Income Growth % | 159.78% | -60.72% | 21.54% | -52.3% | 48.67% | -16.21% | 74.47% | -20.51% | 64.85% |
| EPS (Diluted) | 27.71▲ 0% | 11.00▼ 60.3% | 13.88▲ 26.2% | 6.31▼ 54.5% | 9.03▲ 43.1% | 7.64▼ 15.4% | 13.44▲ 75.9% | 10.73▼ 20.2% | 17.69▲ 64.9% |
| EPS Growth % | 156.81% | -60.3% | 26.18% | -54.54% | 43.11% | -15.39% | 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 | 67M | 67M |
Reinsurance Group of America, Incorporated (RZB) 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 | 59.73B | 63.78B | 75.83B | 83.67B | 89.59B | 82.23B | 97.62B | 118.67B | 156.59B |
| Asset Growth % | 13.96% | 6.77% | 18.89% | 10.35% | 7.08% | -8.22% | 18.72% | 21.56% | 31.95% |
| Total Investment Assets | 7.37B | 8.34B | 6.99B | 7.04B | 9.21B | 7.94B | 7.76B | 98.04B | 130.48B |
| Long-Term Investments | 7.37B | 7B | 6.99B | 7.04B | 9.21B | 7.94B | 7.76B | 20.42B | 130.48B |
| Short-Term Investments | 0 | 1.33B | 0 | 0 | 0 | 0 | 0 | 77.62B | 0 |
| Total Current Assets | 5B | 6.67B | 6.23B | 8.35B | 8.11B | 6.72B | 2.97B | 80.94B | 8.64B |
| Cash & Equivalents | 1.3B | 1.89B | 1.45B | 3.41B | 2.95B | 2.93B | 2.97B | 3.33B | 4.17B |
| Receivables | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 4.47B |
| Other Current Assets | 5B | 6.67B | 6.23B | 4.94B | 5.16B | 3.8B | 0 | 0 | 0 |
| Goodwill & Intangibles | 3.45B | 3.64B | 3.74B | 3.83B | 3.88B | 4.29B | 4.77B | 8M | 6.08B |
| Goodwill | 7M | 7M | 7M | 7M | 7M | 0 | 0 | 0 | 0 |
| Intangible Assets | 3.44B | 3.63B | 3.73B | 3.82B | 3.88B | 4.29B | 4.77B | 8M | 6.08B |
| PP&E (Net) | 302.2M | 302.1M | 296M | 291M | 284M | 408M | 416M | 0 | 0 |
| Other Assets | 41.42B | 44.37B | 55.86B | 60.9B | 65.22B | 62.13B | 68.3B | -8M | 11.39B |
| Total Liabilities | 50.16B | 55.33B | 64.23B | 69.32B | 76.58B | 75.06B | 88.45B | 107.77B | 143.04B |
| Total Debt | 3.57B | 3.47B | 3.58B | 3.96B | 3.85B | 3.96B | 4.42B | 5.04B | 5.71B |
| Net Debt | 2.27B | 1.58B | 2.13B | 553M | 899M | 1.03B | 1.45B | 1.72B | 1.54B |
| Long-Term Debt | 3.57B | 3.47B | 3.58B | 3.96B | 3.85B | 3.96B | 4.42B | 5.04B | 5.71B |
| Short-Term Debt | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Current Liabilities | -293.29M | -270.39M | -347M | -385M | -1.97B | -1.95B | -4.34B | 0 | 0 |
| Accounts Payable | 0 | 0 | 0 | 0 | 0 | 0 | 1.1B | 0 | 0 |
| Deferred Revenue | 0 | 0 | 0 | 3.26B | 2.89B | 736M | 0 | 0 | 0 |
| Other Current Liabilities | -488.74M | -487.18M | -557M | -3.65B | -4.85B | -2.68B | -5.45B | 0 | 0 |
| Deferred Taxes | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 0 | 1000K |
| Other Liabilities | 44.69B | 50.33B | 58.28B | 0 | 71.81B | 73.04B | 84.03B | 102.73B | 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 | -4.69B |
| Return on Equity (ROE) | 21.87% | 7.94% | 8.68% | 3.2% | 4.51% | 5.12% | 11.04% | 7.14% | 9.67% |
| Return on Assets (ROA) | 3.25% | 1.16% | 1.25% | 0.52% | 0.71% | 0.6% | 1% | 0.66% | 0.86% |
| Equity / Assets | 16.02% | 13.25% | 15.3% | 17.15% | 14.53% | 8.72% | 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 | 162.78 | 202.25 |
| Tangible BV per Share | 93.11 | 73.93 | 123.02 | 159.92 | 133.69 | 42.53 | 65.57 | 162.66 | 111.52 |
Reinsurance Group of America, Incorporated (RZB) 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% | 16.13% | 22.77% | 25.12% | 8.28% | 21.78% | 42.38% | 17.26% |
| Net Income | 1.82B | 715.84M | 870M | 415M | 617M | 517M | 902M | 717M | 1.18B |
| Depreciation & Amortization | 52.9M | 45.13M | 605M | 589M | 0 | 375M | 389M | -168M | 0 |
| Stock-Based Compensation | 22M | 30M | 39M | -12M | 0 | 45M | 46M | 0 | 0 |
| Deferred Taxes | -847.3M | 76.51M | 0 | 0 | 0 | 0 | 211M | -61M | 0 |
| Other Non-Cash Items | -860.53M | 172.15M | -587M | -655M | -742M | -270M | -721M | 283M | -258M |
| Working Capital Changes | 1.07B | 738.26M | 1.38B | 2.98B | 4.31B | 676M | 3.22B | 8.6B | 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 | 0 | 0 | 0 | 0 |
| Acquisitions | 0 | -31.44M | 4M | -315M | -137M | 0 | 0 | 0 | 0 |
| Purchase of Investments | -10.05B | -10.86B | 0 | 0 | -19.35B | 0 | -13.25B | -41.68B | 0 |
| Sale/Maturity of Investments | 8.61B | 10.64B | 0 | 0 | 14.48B | 0 | 8.55B | 28.93B | 0 |
| Other Investing | -121.21M | -365.24M | -2.61B | -2.34B | 397M | -5.69B | 634M | 209M | -12.09B |
| 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 | -43.51M | -299.68M | -101M | -163M | -99M | -81M | -227M | -27M | -174M |
| Stock Issued | 7.29M | 3.46M | 0 | 0 | 0 | 0 | 0 | 0 | 4M |
| Debt Issuance (Net) | -1000K | -1000K | 1000K | 1000K | -1000K | 1000K | 1000K | 1000K | 1000K |
| Other Financing | 199.9M | 213.4M | 38M | 1.22B | 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 | 53M | -36M | 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% | 1.34B▼ 67.7% | 4.59B▲ 242.1% | 9.37B▲ 103.9% | 4.09B▼ 56.3% |
| FCF Growth % | 36.38% | -19.91% | 46.43% | 44.92% | 26.38% | -67.74% | 242.14% | 103.92% | -56.34% |
| FCF Margin % | 15.49% | 12.06% | 15.89% | 22.57% | 25% | 8.28% | 24.75% | 42.38% | 17.26% |
| FCF per Share | 29.48 | 23.85 | 35.58 | 50.06 | 60.95 | 19.84 | 68.48 | 139.85 | 61.06 |
Reinsurance Group of America, Incorporated (RZB) 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 | 16.98% | 17.4% | 16.38% | 20.56% | 19.83% | 5.95% | 6.5% | 0.25% | 0.27% | 93.54% |
| Medical Cost Ratio | 0.01% | 0.01% | 0.01% | 6.07% | 5.59% | 5.62% | 6.22% | 0% | 0% | 71.75% |
| Return on Equity (ROE) | 10.61% | 21.87% | 7.94% | 8.68% | 3.2% | 4.51% | 5.12% | 11.04% | 7.14% | 9.67% |
| Return on Assets (ROA) | 1.36% | 3.25% | 1.16% | 1.25% | 0.52% | 0.71% | 0.6% | 1% | 0.66% | 0.86% |
| Equity / Assets | 13.53% | 16.02% | 13.25% | 15.3% | 17.15% | 14.53% | 8.72% | 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 | 162.78 | 202.25 |
| 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% | 11.07% | 2.03% | 14.11% | -2.61% | 14.49% | 19.07% | 7.2% |
Reinsurance Group of America, Incorporated (RZB) SEC filings — annual & quarterly reports (10-K, 10-Q)
May 1, 2026·SEC
Mar 20, 2026·SEC
Mar 19, 2026·SEC
Reinsurance Group of America, Incorporated (RZB) stock FAQ — growth, dividends, profitability & financials explained
Reinsurance Group of America, Incorporated (RZB) grew revenue by 7.2% over the past year. This is steady growth.
Yes, Reinsurance Group of America, Incorporated (RZB) is profitable, generating $1.18B in net income for fiscal year 2025 (5.0% net margin).
Yes, Reinsurance Group of America, Incorporated (RZB) pays a dividend with a yield of 14.21%. This makes it attractive for income-focused investors.
Reinsurance Group of America, Incorporated (RZB) has a return on equity (ROE) of 9.7%. This is below average, suggesting room for improvement.
Reinsurance Group of America, Incorporated (RZB) has a combined ratio of 93.5%. A ratio below 100% indicates underwriting profitability.
Reinsurance Group of America, Incorporated (RZB) financial analysis — history, returns, DCA and operating performance tools
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