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NYSE · LIFE INSURANCE · LARGE CAP

Reinsurance Group of America Inc. RGA

18 fiscal years on record · USD · FY2025 reported · SEC filings only
4 YEARS OF DIVIDEND GROWTH
$23.7B
▲ 7.2% YoY
$1.2B
▲ 64.9% YoY

Slide the table for earlier years · "·" marks a figure not available in our data for that year.

In brief

What this company does

Reinsurance Group of America provides traditional life and health reinsurance and asset-intensive reinsurance, with operations in the U.S., Latin America, Canada, Europe, the Middle East, Africa, Asia and Australia. Its global team numbers approximately 4,300 employees. In 2025, excluding premiums from single premium pension risk transfer transactions, the five largest clients generated approximately $3.9 billion, or 21% of gross premiums and other revenues. The company has geographic-based and business-based operational segments: U.S. and Latin America; Canada; Europe, Middle East and Africa; Asia Pacific; and Corporate and Other. Each geographic-based operation is further divided into traditional and financial solutions businesses, written by segments that wholly or partially retain the business in RGA's insurance subsidiaries. Its longevity reinsurance products earn premium for assuming the longevity risk of pension plans and other annuity products insured by third parties. It issues annuity insurance contracts to pension plan sponsors, assuming all investment and biometric risk and typically receiving a single premium at inception of the contract. The company was formed on December 31, 1992 as an insurance holding company.

Written from the business description in REINSURANCE GROUP OF AMERICA INC's annual report to the U.S. Securities and Exchange Commission, filed 20 February 2026. Every sentence was checked against that document before publication.

Growth

USD 23.7B
Revenue, FY2025 · full 18-year series below
Revenue $B Net income $B
FY2025 · Revenue 23.7 · Net income 1.2
10B20B
2008201120142017202020232025
Compound annual growth
+13.5%
+10.2%
+8.6%
+7.3%
+31.7%
+23.3%
+8.9%
+5.4%
+32.3%
+22.9%
+9.0%
+6.2%
+6.0%
+4.9%
+10.0%
+14.5%
+5.4%
+5.7%
+9.9%
+13.7%
3 yrs
5 yrs
10 yrs
15 yrs

Revenue compounded at +10.2% a year over the five years to FY2025 — but profit grew faster: net income at +23.3%, earnings per share at +22.9%.

Compound annual rates per period — left blank where that exact year isn't on file, the series crosses a loss, or (per-share rows) a split falls inside the window.

Profitability

5 cents
of every revenue dollar became profit
Operating margin Net margin
FY2025 · Operating 6.5% · Net 5.0%
5%10%
200820162025
ROE
FY2025 · ROE 9.7%
10%20%
200820162025
Three returns, three denominators.
Return on capital employedNot available: we don't have total assets or current liabilities for this period.
Gross margin·
Operating margin6.5%
Net margin5.0%
EBITDAUSD 1.6B

Each USD of equity produced 10 cents of profit this year.

Cash & shareholders

USD 240.0M
returned in FY2025 · dividends + net buybacks
Free cash flow $B
FY2022 · FCF 1.3
2B3B
200820162025
Net buybacks $M Dividends $M
FY2025 · Dividends 240.0 · Net buybacks ·
100M200M
2008201120142017202020232025
Dividends paidUSD 240.0M
Net buybacks·
Share of profit20.3%
Consecutive raises4 years

USD 240.0M in dividends — 20% of the year's profit went back to shareholders.

Total assetsUSD 156.6B
EquityUSD 13.5B
CashUSD 4.2B
Gross debtUSD 5.7B
Net debtUSD 1.5B

Net debt stands at 11% of equity.

The 18-year record

18 fiscal years
Every figure from documents filed with the SEC · USD
row low → row highnegative—not applicable◌not available in our data
RGA, 18-year financial record
Metric 202520242023202220212020201920182017201620152014201320122011201020092008
Revenue $B23.722.118.616.216.714.614.312.912.511.510.410.910.39.88.88.37.15.7
Operating income $B1.51.01.20.71.40.61.1◌◌◌◌◌◌◌◌◌◌◌
EBITDA $B1.61.01.20.81.40.61.2◌◌◌◌◌◌◌◌◌◌◌
Income tax $B0.40.30.30.20.20.10.30.1−0.70.30.20.30.20.30.20.30.20.1
Net income $B1.20.70.90.51.20.40.90.71.80.70.50.70.40.60.50.50.40.2
Free cash flow $B◌◌◌1.34.23.32.31.61.91.42.12.21.72.0◌◌◌◌
EPS, diluted $17.6910.7313.447.6417.136.3113.6211.0027.7110.797.469.785.788.527.377.175.55◌
Dividend / sh $3.643.483.303.062.862.862.602.201.821560.001.401.261.080.840.600.480.360.36
Payout %20322440174419206141913191087613
ROE %9.77.211.26.810.43.28.77.921.910.67.610.66.59.910.312.713.06.8
Shares out B◌◌◌◌◌◌0.060.060.060.060.070.070.070.070.070.070.07◌

Slide the table for earlier years. "—" not applicable · "◌" not available in our data.

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Provenance

Company facts, as filed

How we verify · 0 failures in 52 reconciliationsAUDITED

Reconciled in 18 of the 18 fiscal years we could check. Two checks were skipped: the balance sheet is not tagged before 2009. Two checks were skipped: EPS is not tagged before 2009.

EPS recomputationBalance-sheet identityGross profitBalance-sheet liquidityCurrency consistency0 failures
ActivityLife Insurance
Listed onNYSE
Incorporated inMissouri
Fiscal year endsDecember 31
Data on record since2008

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