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RZB logoReinsurance Group of America, Incorporated(RZB)Earnings, Financials & Key Ratios

RZB•NYSE•Insurance & Managed Care
$25.21
$1.69B mkt cap·1.4× P/E·Price updated May 6, 2026
SectorFinancial ServicesIndustryReinsuranceSub-IndustryLife and health reinsurers
AboutReinsurance Group of America, Inc. is a holding company, which engages in the provision of traditional and non-traditional life and health reinsurance products. It operates through the following segments: U.S. and Latin America, Canada, Europe, Middle East, and Africa, Asia Pacific, and Corporate and Other. The U.S. and Latin America segment markets individual and group life and health reinsurance to domestic clients for a variety of products through yearly renewable term agreements, coinsurance, and modified coinsurance. The Canada segment offers individual life reinsurance, and, to a lesser extent, creditor, group life and health, critical illness, and disability reinsurance, through yearly renewable term and coinsurance agreements. The Europe, Middle East, and Africa segment serves individual and group life and health products through yearly renewable term and coinsurance agreements, reinsurance of critical illness coverage that provides a benefit in the event of the diagnosis of a pre-defined critical illness, and underwritten annuities. The Asia Pacific segment consists of individual and group life and health reinsurance, critical illness coverage, disability, and superannuation through yearly renewable term and coinsurance agreements. The Corporate and Other segment consists of investment income from unallocated invested assets, investment related gains, and losses and service fees. The company was founded in 1973 and is headquartered in Chesterfield, MO.Show more
  • Revenue$23.7B+7.2%
  • Combined Ratio93.54%+34363.1%
  • Net Income$1.18B+64.9%
  • Return on Equity9.67%+35.3%
  • Medical Cost Ratio71.75%
  • Operating Margin6.5%-93.5%
  • Net Margin4.99%+53.8%
  • ROA0.86%+29.5%
  • Equity / Assets8.65%-5.8%
  • Book Value per Share202.25+24.3%
  • Tangible BV/Share111.52-31.4%
  • Debt/Equity0.42-8.9%
Technical→

RZB Key Insights

Reinsurance Group of America, Incorporated (RZB) fundamental analysis — strengths, weaknesses & financial health based on data analysis

✓Strengths

  • ✓Profitable underwriting: 93.5% combined ratio
  • ✓Strong 5Y profit CAGR of 23.3%
  • ✓16 consecutive years of dividend growth
  • ✓Trading near 52-week high
  • ✓Trading at only 0.1x book value

✗Weaknesses

No significant weaknesses identified

* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.

RZB Price & Volume

Reinsurance Group of America, Incorporated (RZB) stock price & volume — 10-year historical chart

Loading chart...

RZB Growth Metrics

Reinsurance Group of America, Incorporated (RZB) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR

Revenue CAGR

10 Years8.57%
5 Years10.18%
3 Years13.48%
TTM7.43%

Profit CAGR

10 Years8.94%
5 Years23.29%
3 Years31.74%
TTM107.68%

EPS CAGR

10 Years9.02%
5 Years22.9%
3 Years32.3%
TTM65.14%

Return on Capital

10 Years5.25%
5 Years8.68%
3 Years13.8%
Last Year1.12%

RZB Recent Earnings

Reinsurance Group of America, Incorporated (RZB) EPS & revenue vs analyst estimates — last 4 quarters

Full history →
●Beat EPS 1/12 qtrs (10%)●Beat Revenue 5/12 qtrs (50%)
Q1 2026Latest
Feb 5, 2026
EPS
$7.75
Est $5.78
+34.1%
Revenue
$6.6B
Est $6.3B
+5.1%
Q4 2025
Oct 29, 2025
EPS
$3.78
Est $5.76
-34.4%
Revenue
$6.2B
Est $6.1B
+2.0%
Q3 2025
Jul 30, 2025
EPS
$2.69
Est $5.55
-51.5%
Revenue
$5.6B
Est $6.4B
-12.3%
Q2 2025
May 1, 2025
EPS
$0.00
Est $5.31
-99.9%
Revenue
$5M
Est $6M
-7.6%
QuarterDateEPS (Act vs Est)Revenue (Act vs Est)
Q1 2026LatestFeb 5, 2026
$7.75vs $5.78+34.1%
$6.6Bvs $6.3B+5.1%
Q4 2025Oct 29, 2025
$3.78vs $5.76-34.4%
$6.2Bvs $6.1B+2.0%
Q3 2025Jul 30, 2025
$2.69vs $5.55-51.5%
$5.6Bvs $6.4B-12.3%
Q2 2025May 1, 2025
$0.00vs $5.31-99.9%
$5Mvs $6M-7.6%
Based on last 12 quarters of dataView full earnings history →

RZB Peer Comparison

Reinsurance Group of America, Incorporated (RZB) competitors in Life and health reinsurers — business model, growth, and fundamentals comparison

Select Columns
Stock Universe
Valuation
Growth
Profitability
Financial Health
Dividends & Buybacks
Price Performance
Technical
Fundamentals ($)
Sector-Specific
CompanyMarket CapStock PriceP/E Ratio (TTM)Revenue Growth 1YNet MarginReturn on Equity (ROE)FCF YieldDebt / Equity
MET logoMETMetLife, Inc.Direct Competitor52.79B79.9013.453.29%5.43%13.16%28.63%0.68
PRU logoPRUPrudential Financial, Inc.Direct Competitor34.89B100.279.81-14.01%5.87%10.54%17.97%0.94
LNC logoLNCLincoln National CorporationDirect Competitor6.4B37.542.0453.61%11.43%20.18%0.77
GL logoGLGlobe Life Inc.Direct Competitor12.09B154.1410.963.82%19.36%20.64%10.37%0.44
CNO logoCNOCNO Financial Group, Inc.Direct Competitor4.27B45.5219.370.94%4.94%8.6%15.84%1.54
PFG logoPFGPrincipal Financial Group, Inc.Direct Competitor21.86B100.8719.21-3.11%7.58%9.89%20.31%0.34
RNR logoRNRRenaissanceRe Holdings Ltd.Product Competitor13.03B302.045.339.45%26.93%16.59%28.33%0.12
TRV logoTRVThe Travelers Companies, Inc.Product Competitor65.17B301.3910.995.17%12.88%19.12%0.28

Compare RZB vs Peers

Reinsurance Group of America, Incorporated (RZB) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.

Closest Rival

vs MET

Most directly comparable listed peer for RZB.

Scale Benchmark

vs BLK

Larger-name benchmark to compare RZB against a more recognizable public peer.

Peer Set

Compare Top 5

vs MET, PRU, LNC, GL

RZB Income Statement

Reinsurance Group of America, Incorporated (RZB) annual income statement — 10-year revenue, gross profit & net income history

10Y historyFree accessUpdated daily
Line itemDec'17Dec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24Dec'25
Revenue12.52B12.88B14.3B14.59B16.65B16.22B18.57B22.11B23.7B
Revenue Growth %8.63%2.88%11.07%2.03%14.11%-2.61%14.49%19.07%7.2%
Medical Costs & Claims710.7K786K868M816M936M1.01B0017B
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 Expenses2.18B2.11B2.07B2.08B55M45M46M60M5.16B
OpEx / Revenue %17.4%16.38%14.49%14.23%0.33%0.28%0.25%0.27%21.79%
Depreciation & Amortization52.9M45.13M49M49M038M000
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%
EBITDA1.37B1.07B1.38B789M823M947M1.42B1.29B1.54M
EBITDA Margin %10.95%8.3%9.67%5.41%4.94%5.84%7.63%5.86%0.01%
Interest Expense146K147K203M183M132M191M257M315M366M
Non-Operating Income11.18B177.09M12.93B00000-374M
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-679.37M129.98M262M138M74M197M251M256M351M
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)28.2811.2513.886.359.107.7313.6010.9017.94
Diluted Shares Outstanding65.75M65.09M63.88M65.8M68.3M67.7M67.1M67M67M

RZB Balance Sheet

Reinsurance Group of America, Incorporated (RZB) balance sheet — assets, liabilities & shareholders' equity

Line itemDec'17Dec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24Dec'25
Total Assets59.73B63.78B75.83B83.67B89.59B82.23B97.62B118.67B156.59B
Asset Growth %13.96%6.77%18.89%10.35%7.08%-8.22%18.72%21.56%31.95%
Total Investment Assets7.37B8.34B6.99B7.04B9.21B7.94B7.76B98.04B130.48B
Long-Term Investments7.37B7B6.99B7.04B9.21B7.94B7.76B20.42B130.48B
Short-Term Investments01.33B0000077.62B0
Total Current Assets5B6.67B6.23B8.35B8.11B6.72B2.97B80.94B8.64B
Cash & Equivalents1.3B1.89B1.45B3.41B2.95B2.93B2.97B3.33B4.17B
Receivables000000004.47B
Other Current Assets5B6.67B6.23B4.94B5.16B3.8B000
Goodwill & Intangibles3.45B3.64B3.74B3.83B3.88B4.29B4.77B8M6.08B
Goodwill7M7M7M7M7M0000
Intangible Assets3.44B3.63B3.73B3.82B3.88B4.29B4.77B8M6.08B
PP&E (Net)302.2M302.1M296M291M284M408M416M00
Other Assets41.42B44.37B55.86B60.9B65.22B62.13B68.3B-8M11.39B
Total Liabilities50.16B55.33B64.23B69.32B76.58B75.06B88.45B107.77B143.04B
Total Debt3.57B3.47B3.58B3.96B3.85B3.96B4.42B5.04B5.71B
Net Debt2.27B1.58B2.13B553M899M1.03B1.45B1.72B1.54B
Long-Term Debt3.57B3.47B3.58B3.96B3.85B3.96B4.42B5.04B5.71B
Short-Term Debt000000000
Total Current Liabilities-293.29M-270.39M-347M-385M-1.97B-1.95B-4.34B00
Accounts Payable0000001.1B00
Deferred Revenue0003.26B2.89B736M000
Other Current Liabilities-488.74M-487.18M-557M-3.65B-4.85B-2.68B-5.45B00
Deferred Taxes1000K1000K1000K1000K1000K1000K1000K01000K
Other Liabilities44.69B50.33B58.28B071.81B73.04B84.03B102.73B134.33B
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 Equity9.57B8.45B11.6B14.35B13.01B7.08B9.08B10.82B13.46B
Minority Interest0000090M90M90M90M
Retained Earnings6.74B7.28B7.95B8.15B8.56B8.17B8.8B9.26B10.15B
Common Stock791K791K1M1M1M1M1M1M1M
Accumulated OCI2.06B636.76M3.14B5.36B3.64B-1.87B-369M849M-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 / Assets16.02%13.25%15.3%17.15%14.53%8.72%9.39%9.19%8.65%
Debt / Equity0.37x0.41x0.31x0.28x0.30x0.55x0.48x0.46x0.42x
Book Value per Share145.54129.82181.60218.12190.54105.92136.68162.78202.25
Tangible BV per Share93.1173.93123.02159.92133.6942.5365.57162.66111.52

RZB Cash Flow Statement

Reinsurance Group of America, Incorporated (RZB) cash flow — operating, investing & free cash flow history

Line itemDec'17Dec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24Dec'25
Cash from Operations1.98B1.58B2.31B3.32B4.18B1.34B4.04B9.37B4.09B
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 Income1.82B715.84M870M415M617M517M902M717M1.18B
Depreciation & Amortization52.9M45.13M605M589M0375M389M-168M0
Stock-Based Compensation22M30M39M-12M045M46M00
Deferred Taxes-847.3M76.51M0000211M-61M0
Other Non-Cash Items-860.53M172.15M-587M-655M-742M-270M-721M283M-258M
Working Capital Changes1.07B738.26M1.38B2.98B4.31B676M3.22B8.6B3.17B
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-19M0000
Acquisitions0-31.44M4M-315M-137M0000
Purchase of Investments-10.05B-10.86B00-19.35B0-13.25B-41.68B0
Sale/Maturity of Investments8.61B10.64B0014.48B08.55B28.93B0
Other Investing-121.21M-365.24M-2.61B-2.34B397M-5.69B634M209M-12.09B
Cash from Financing-324.62M-321.97M-121M1.25B20M4.44B78M3.66B8.8B
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 Issued7.29M3.46M0000004M
Debt Issuance (Net)-1000K-1000K1000K1000K-1000K1000K1000K1000K1000K
Other Financing199.9M213.4M38M1.22B430M4.62B62M3.31B8.55B
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 Effect53M-36M11M63M-34M-112M-13M-130M47M
Cash at Beginning1.2B1.3B1.89B1.45B3.41B2.95B2.93B2.97B3.33B
Cash at End1.3B1.89B1.45B3.41B2.95B2.93B2.97B3.33B4.17B
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 Share29.4823.8535.5850.0660.9519.8468.48139.8561.06

RZB Key Ratios

Reinsurance Group of America, Incorporated (RZB) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios

Metric2016201720182019202020212022202320242025
Combined Ratio16.98%17.4%16.38%20.56%19.83%5.95%6.5%0.25%0.27%93.54%
Medical Cost Ratio0.01%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 / Assets13.53%16.02%13.25%15.3%17.15%14.53%8.72%9.39%9.19%8.65%
Book Value / Share109.14145.54129.82181.6218.12190.54105.92136.68162.78202.25
Debt / Equity0.55x0.37x0.41x0.31x0.28x0.30x0.55x0.48x0.46x0.42x
Revenue Growth10.59%8.63%2.88%11.07%2.03%14.11%-2.61%14.49%19.07%7.2%

RZB SEC Filings & Documents

Reinsurance Group of America, Incorporated (RZB) SEC filings — annual & quarterly reports (10-K, 10-Q)

8-K Announcements

6
Material company update

May 1, 2026·SEC

Material company update

Mar 20, 2026·SEC

Material company update

Mar 19, 2026·SEC

10-K Annual Reports

3
FY 2026

Feb 20, 2026·SEC

FY 2025

Feb 21, 2025·SEC

FY 2024

Feb 26, 2024·SEC

10-Q Quarterly Reports

6
FY 2025

Oct 31, 2025·SEC

FY 2025

Aug 1, 2025·SEC

FY 2025

May 2, 2025·SEC

RZB Frequently Asked Questions

Reinsurance Group of America, Incorporated (RZB) stock FAQ — growth, dividends, profitability & financials explained

Growth & Financials

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).

Dividend & Returns

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.

Industry Metrics

Reinsurance Group of America, Incorporated (RZB) has a combined ratio of 93.5%. A ratio below 100% indicates underwriting profitability.

Explore More RZB

Reinsurance Group of America, Incorporated (RZB) financial analysis — history, returns, DCA and operating performance tools

Total Return Calculator

Historical returns with dividends reinvested

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DCA Calculator

Dollar cost averaging vs lump sum

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Dividend History

Yield, growth, payout safety & DRIP

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Earnings History

EPS trends, net income & profitability

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Price History

Long-term charts & historical price data

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Revenue History

Sales growth patterns & revenue breakdown

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Financial Ratios

30 years of market, efficiency and balance-sheet ratios

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Valuation

DCF intrinsic value, peer multiples & estimates

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