REINSURANCE GROUP OF AMERICA INC

Listed Company

RZBCIK 0000898174NYSELarge AcceleratedLife InsuranceMissouriFY ends Dec 31

Period

FY 2025

Revenue

$23.70B

Net Income

$1.18B

Total Assets

$156.59B

Equity

$13.46B

Shares Out

65.51M

Op. Cash Flow

$4.09B

RGA$241.65+22.14% · past yearDBEQ Basic

Daily closing prices

Business

Reinsurance Group of America is a leading global reinsurance provider offering traditional life and health reinsurance, asset-intensive reinsurance, longevity reinsurance, pension risk transfer, and capital solutions to life insurance companies worldwide. The company serves clients through facultative and automatic treaty arrangements covering mortality, morbidity, lapse, and investment risks on products including term life, whole life, universal life, group life and health, critical illness, disability, and long-term care. RGA operates through five reportable segments: U.S. and Latin America, Canada, Europe/Middle East/Africa, Asia Pacific, and Corporate and Other, serving major insurance companies across North America, Europe, Asia, Australia, and Latin America.

Summary from 10-K filed 2026-02-20

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Net premiums	17,230	17,843	15,085	13,078	12,513
Net investment income	5,806	4,416	3,591	3,161	3,138
Investment related (losses), net	−245	−745	−481	−539	567
Other revenues	907	593	372	527	449
Total revenues	23,698	22,107	18,567	16,227	16,667
Claims and other policy benefits	16,995	16,903	13,872	11,982	11,673
Liability for Future Policy Benefit, Remeasurement Gain (Loss)	0	−32	−62	291	567
Market Risk Benefit, Change in Fair Value, Gain (Loss)	8	−44	−10	10	−58
Interest credited	1,635	1,087	864	682	700
Other operating expenses	1,333	1,268	1,089	1,009	936
Interest expense	366	304	257	191	139
Total benefits and expenses	22,158	21,127	17,407	15,509	15,282
Income before income taxes	1,540	980	1,160	718	1,385
Provision for income taxes	351	256	251	197	215
Net income	1,189	724	909	521	1,170
Net income attributable to noncontrolling interest	7	7	7	4	0
Net income available to RGA, Inc. shareholders	1,182	717	902	517	1,170
Basic earnings per share	17.94	10.9	13.6	7.73	17.26
Diluted earnings per share	17.69	10.73	13.44	7.64	17.13
Deferred Policy Acquisition Costs, Amortization Expense	1,821	1,641	1,397	1,344	—

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Fixed maturity securities available-for-sale at fair value (amortized cost of $107,264 and $82,907; allowance for credit losses of $210 and $98)	101,769	77,617	60,467	52,901	60,749
Equity Securities, FV-NI	311	155	139	134	151
Mortgage loans (net of allowance for credit losses of $117 and $93)	11,104	8,839	7,377	6,590	6,283
Policy loans	3,541	1,321	1,206	1,231	1,234
Funds withheld at interest	8,149	5,436	5,683	6,003	6,954
Real Estate Investments, Joint Ventures	3,747	3,067	2,635	2,327	1,996
Short-term investments	346	363	222	154	87
Other invested assets	1,514	1,242	1,171	1,140	1,074
Total investments	130,481	98,040	78,900	70,480	78,528
Cash and cash equivalents	4,168	3,326	2,970	2,927	2,927
Accrued investment income	1,296	986	759	630	533
Premiums receivable and other reinsurance balances	4,475	3,898	3,528	3,013	2,888
Reinsurance ceded receivables and other	7,175	5,531	5,448	2,671	2,580
Deferred policy acquisition costs and other	6,079	5,543	4,617	4,128	3,690
Other assets	2,916	1,351	1,401	1,055	1,008
Total assets	156,590	118,675	97,623	84,904	92,941
Future policy benefits	66,425	53,368	41,231	35,689	35,782
Interest-sensitive contract liabilities	52,095	35,095	30,273	30,342	26,377
Other policy claims and benefits	3,011	2,693	2,730	2,480	6,993
Other reinsurance balances	1,888	1,316	1,103	725	613
Income taxes	2,998	2,199	1,862	1,383	2,886
Funds Held under Reinsurance Agreements, Liability	6,805	5,017	4,483	1,486	—
Other liabilities	3,873	2,816	2,085	1,420	2,663
Long-term debt	5,710	5,042	4,427	3,961	3,667
Total liabilities	143,039	107,769	88,452	77,733	79,161
Commitments and contingent liabilities (See Note 17)	—	—	—	—	—
Preferred stock (par value $$0.01 per share; 10,000,000 shares authorized; no shares issued or outstanding)	0	0	0	0	0
Common stock (par value $0.01 per share; 140,000,000 shares authorized; shares issued: 85,310,598 at both December 31, 2025 and December 31, 2024)	1	1	1	1	1
Additional paid-in-capital	2,640	2,600	2,544	2,502	2,461
Retained earnings	10,151	9,255	8,805	8,169	8,563
Treasury stock, at cost 19,846,934 and 19,438,336 shares at December 31, 2025 and December 31, 2024	−2,013	−1,889	−1,900	−1,720	−1,653
Accumulated other comprehensive income (loss)	2,682	849	−369	−1,871	−500
Total Reinsurance Group of America, Inc. shareholders equity	13,461	10,816	9,081	7,081	8,180
Total liabilities and equity	156,590	118,675	97,623	84,904	92,175
Stockholders' Equity Attributable to Noncontrolling Interest	90	90	90	90	0
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	13,551	10,906	9,171	7,171	8,180
Market Risk Benefit, Net Amount at Risk	234	223	258	247	—

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Accrued investment income	−123	−132	−99	−111	−15
Premiums receivable and other reinsurance balances	−422	−397	−537	−249	−117
Deferred policy acquisition costs and other	−441	−322	−490	−311	−160
Reinsurance ceded receivables and other	67	231	−209	61	131
Future policy benefits, other policy claims and benefits and other reinsurance balances	4,347	8,811	4,142	793	3,720
Deferred Income Taxes and Tax Credits	—	−61	211	—	—
Increase Decrease In Funds Withheld Net Of Reinsurance Recoverable And Deposit Receivable	—	−123	49	−63	82
Decrease In Funds Withheld Net Of Reinsurance Recoverable And Deposit Receivable	−228	−123	49	−63	—
Other assets and other liabilities, net	−388	257	68	255	−138
Amortization of net investment premiums, discounts and other	−271	−214	−127	−71	−54
Income from limited partnerships and real estate joint ventures	−193	−96	−181	−331	−419
Increase (Decrease) in Future Policy Benefit Reserves	0	−32	−62	291	567
Market Risk Benefit, Increase (Decrease) from Equity Market Change	8	−44	−10	10	−58
Depreciation and amortization expense	43	46	41	38	43
Other, net	−86	−16	−135	−90	−45
Net cash provided by operating activities	4,091	9,370	4,044	1,343	4,182
Sales of fixed maturity securities available-for-sale	27,690	28,153	8,195	10,558	12,142
Proceeds from Maturities, Prepayments and Calls of Debt Securities, Available-for-Sale	1,239	1,219	967	906	887
Proceeds from Sale of Available-for-sale Securities, Equity	59	7	1	7	30
Proceeds from Sale and Collection of Mortgage Notes Receivable	930	640	436	963	991
Payments to Acquire Available-for-sale Securities	−37,745	−40,662	−12,647	−16,531	−18,071
Payments to Acquire Available-for-sale Securities, Equity	−150	−6	−5	−15	−22
Payments to Acquire Mortgage Notes Receivable	−3,175	−1,906	−1,280	−1,314	−1,155
Net deposits in funds withheld at interest	529	274	352	−36	−67
Proceeds from Real Estate and Real Estate Joint Ventures	546	258	474	710	498
Payments to Acquire Real Estate and Real Estate Joint Ventures	−1,073	−578	−551	−700	−648
Proceeds from Sale of Short-Term Investments	1,014	772	353	317	410
Payments to Acquire Short-Term Investments	−1,530	−1,017	−601	−528	−185
Proceeds from Maturities, Prepayments and Calls of Short-Term Investments	714	343	187	131	146
Payments for (Proceeds from) Productive Assets	−276	−28	102	−140	547
Payments to Acquire Notes Receivable	−1,012	0	0	—	—
Proceeds from Sale and Collection of Notes Receivable	3	0	0	—	—
Payment for (Proceeds from) Other Investing Activity	143	−14	−49	−23	6
Net cash used in investing activities	−12,094	−12,545	−4,066	−5,688	−4,628
Dividends to shareholders	−240	−229	−219	−205	−194
Proceeds from long-term debt issuance, net	691	640	890	690	494
Principal payments of long-term debt	−29	−28	−428	−403	−403
Purchases of treasury stock	−174	−27	−227	−81	−99
Proceeds from Issuance or Sale of Equity	4	0	0	—	—
Change in cash collateral for derivatives and repurchase/reverse repurchase agreements	911	187	603	230	31
Decrease In Reinsurance Deposits Financing Activities	181	268	227	−44	91
Deposits on investment-type policies and contracts	12,097	7,581	2,860	5,705	1,729
Withdrawals on investment-type policies and contracts	−4,643	−4,731	−3,628	−1,365	−1,421
Net cash provided by financing activities	8,798	3,661	78	4,436	20
Effect of exchange rate changes on cash	47	−130	−13	−112	−34
Change in cash and cash equivalents	842	356	43	−21	−460
Interest paid	255	213	217	163	160
Income taxes paid, net of refunds	252	78	298	129	368
Transfer of invested assets	16,915	9,642	2,006	618	1,798
Right-of-use assets acquired through operating leases	10	1	0	0	0
Non-cash deposits on reinsurance	1,900	637	2,792	0	1,581

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Frequently asked questions

What is REINSURANCE GROUP OF AMERICA INC's CIK number?

REINSURANCE GROUP OF AMERICA INC's SEC CIK number is 0000898174 (898174). The CIK (Central Index Key) is the permanent identifier the SEC assigns to every EDGAR filer — unlike a ticker symbol, it never changes.

Where can I find REINSURANCE GROUP OF AMERICA INC's SEC filings?

All of REINSURANCE GROUP OF AMERICA INC's EDGAR filings — 10-K annual reports, 10-Q quarterly reports, 8-K material events, and insider transactions — are listed on this page, sourced live from SEC EDGAR.

When did REINSURANCE GROUP OF AMERICA INC last report earnings?

REINSURANCE GROUP OF AMERICA INC (RZB) most recently filed an earnings 8-K with the SEC on May 7, 2026, furnishing its results under Item 2.02 (Results of Operations and Financial Condition). The earnings press release is attached to that filing (accession 0000898174-26-000022). This is REINSURANCE GROUP OF AMERICA INC's most recent earnings filing of record — not a forecast of its next earnings date.

What is REINSURANCE GROUP OF AMERICA INC's most recent earnings 8-K?

REINSURANCE GROUP OF AMERICA INC's latest earnings 8-K (Item 2.02) was filed May 7, 2026 under accession 0000898174-26-000022. It carries the quarterly or annual earnings press release — the earliest official, SEC-filed version of the results.

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