MARKETS / NYSE / RGA

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

Revenue

$23.7B

▲ 7.2% YoY

Net income

$1.2B

▲ 64.9% YoY

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

Compound annual growth

Revenue

+13.5%

+10.2%

+8.6%

+7.3%

Net income

+31.7%

+23.3%

+8.9%

+5.4%

EPS, diluted

+32.3%

+22.9%

+9.0%

+6.2%

Dividend / share

+6.0%

+4.9%

+10.0%

+14.5%

Returned to shareholders

+5.4%

+5.7%

+9.9%

+13.7%

3 yrs

5 yrs

10 yrs

15 yrs

Revenue compounded at +10.2% a year over five years — 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%

ROE

FY2025 · ROE 9.7%

Gross margin—

Operating margin6.5%

Net margin5.0%

Return on assets0.9%

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

Net buybacks $M Dividends $M

FY2025 · Dividends 240.0 · Net buybacks —

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

Metric	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009	2008
Revenue $B	23.7	22.1	18.6	16.2	16.7	14.6	14.3	12.9	12.5	11.5	10.4	10.9	10.3	9.8	8.8	8.3	7.1	5.7
Operating income $B	1.5	1.0	1.2	0.7	1.4	0.6	1.1	·	·	·	·	·	·	·	·	·	·	·
EBITDA $B	1.6	1.0	1.2	0.8	1.4	0.6	1.2	·	·	·	·	·	·	·	·	·	·	·
Income tax $B	0.4	0.3	0.3	0.2	0.2	0.1	0.3	0.1	−0.7	0.3	0.2	0.3	0.2	0.3	0.2	0.3	0.2	0.1
Net income $B	1.2	0.7	0.9	0.5	1.2	0.4	0.9	0.7	1.8	0.7	0.5	0.7	0.4	0.6	0.5	0.5	0.4	0.2
Free cash flow $B	·	·	·	1.3	4.2	3.3	2.3	1.6	1.9	1.4	2.1	2.2	1.7	2.0	·	·	·	·
EPS, diluted $	17.69	10.73	13.44	7.64	17.13	6.31	13.62	11.00	27.71	10.79	7.46	9.78	5.78	8.52	7.37	7.17	5.55	·
Dividend / sh $	3.64	3.48	3.30	3.06	2.86	2.86	2.60	2.20	1.82	1560.00	1.40	1.26	1.08	0.84	0.60	0.48	0.36	0.36
Payout %	20	32	24	40	17	44	19	20	6	14	19	13	19	10	8	7	6	13
ROE %	9.7	7.2	11.2	6.8	10.4	3.2	8.7	7.9	21.9	10.6	7.6	10.6	6.5	9.9	10.3	12.7	13.0	6.8
Shares out B	·	·	·	·	·	·	0.06	0.06	0.06	0.06	0.07	0.07	0.07	0.07	0.07	0.07	0.07	·

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

Provenance

Company facts, as filed

How we verify · 0 failures in 52 reconciliationsAUDITED

Reconciled in 18 of 19 fiscal years. 5 checks could not be computed.

EPS recomputationBalance-sheet identityGross profitBalance-sheet liquiditymoeda_consistente0 failures

ActivityLife Insurance

Listed onNYSE

Incorporated inMissouri

Fiscal year endsDecember 31

Data on record since2008