Reinsurance Group of America, Incorporated (RGA) Financials
A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Oct 17, 2026; every other figure is from the SEC filings on this page. Not financial advice.
Newest figures come from the 10-Q for Q2 FY2026, filed Aug 7, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the RGA SEC filings page.
Reinsurance Group of America, Incorporated (RGA) reported $26.0B in revenue over the twelve months to Jun 30, 2026, up 19.4% from the prior twelve months. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 15 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Reinsurance Group of America operates as a balance-sheet-heavy insurer: asset growth and liabilities dominate the economics, while earnings can rebound sharply.
Between FY2024 and FY2025, earnings recovered faster than revenue, lifting net margin and indicating a profitability shift rather than merely more business. Yet operating cash flow fell from$9.4B to$4.1B while net income improved, showing that reported earnings and period cash movement do not consistently track together.
Balance-sheet expansion was largely obligation-funded: assets grew
In FY2025, investing cash outflows of
Financial Health Signals
Scored against insurers for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of Reinsurance Group of America, Incorporated's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Loss Ratio measures the claims an insurer paid out against the premiums it earned, so a lower ratio leaves more of every premium dollar with the company. Reinsurance Group of America, Incorporated scores 10/100 on it among other insurers.
Not available for Reinsurance Group of America, Incorporated, and counted as zero in the overall score.
Reinsurance Group of America, Incorporated funded 8.6% of its assets with shareholders' equity at the end of fiscal year 2025, holding $13.5B of equity against $156.6B of assets. Capital ranks insurers on that cushion, and Reinsurance Group of America, Incorporated scores 16/100 among other insurers.
Not available for Reinsurance Group of America, Incorporated, and counted as zero in the overall score.
Combined Ratio puts claims and running costs together against premiums earned, and a figure under 100% means the underwriting made money before any investment income was counted. Reinsurance Group of America, Incorporated scores 31/100 on it among other insurers.
Reinsurance Group of America, Incorporated reported net income of $1.2B in fiscal year 2025, against $717.0M in fiscal year 2024. Stability ranks insurers on how steady net income has been across five years, and Reinsurance Group of America, Incorporated scores 81/100 among other insurers.
Reinsurance Group of America, Incorporated passes 6 of 7 computable financial strength tests (2 of the nine could not be computed from available data). All 4 profitability signals pass (positive income, cash flow, and earnings quality), all 2 leverage/liquidity signals pass, neither operating efficiency signal passes.
For every $1 of reported earnings, Reinsurance Group of America, Incorporated generates $3.46 in operating cash flow ($4.1B OCF vs $1.2B net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.
Key Financial Metrics
Earnings & Revenue
Reinsurance Group of America, Incorporated generated $6.6B in revenue in Q2 2026. This represents an increase of 18.5% from the same quarter a year earlier. Against the prior quarter it is up 2.2%.
Reinsurance Group of America, Incorporated reported $462.0M in net income in Q2 2026. This represents an increase of 156.7% from the same quarter a year earlier. Against the prior quarter it is up 40.0%.
Reinsurance Group of America, Incorporated earned $7.01 per diluted share (EPS) in Q2 2026. This represents an increase of 159.6% from the same quarter a year earlier. Against the prior quarter it is up 40.8%.
Not reported for Q2 2026.
Cash & Balance Sheet
Reinsurance Group of America, Incorporated held $5.3B in cash against $5.7B in long-term debt as of Q2 2026.
Reinsurance Group of America, Incorporated paid $0.93 per share in dividends in Q2 2026. This represents an increase of 4.5% from the same quarter a year earlier. It is unchanged from the prior quarter.
Not reported for Q2 2026.
Margins & Returns
Reinsurance Group of America, Incorporated's net profit margin was 7.0% in Q2 2026, showing the share of revenue converted to profit. This is up 3.8 percentage points from the same quarter a year earlier. Against the prior quarter it is up 1.9 percentage points.
Reinsurance Group of America, Incorporated's ROE was 3.4% in Q2 2026, measuring profit generated per dollar of shareholder equity. This is up 1.9 percentage points from the same quarter a year earlier. Against the prior quarter it is up 0.9 percentage points.
Not reported for Q2 2026.
Not reported for Q2 2026.
Capital Allocation
Reinsurance Group of America, Incorporated spent $52.0M on share buybacks in Q2 2026, returning capital to shareholders by reducing shares outstanding. Against the prior quarter it is down 44.7%.
Not reported for Q2 2026.
Not reported for Q2 2026.
RGA Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-K | Q3'2510-K | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-K |
|---|---|---|---|---|---|---|---|---|
| Revenue | $6.6B+18.5% | $6.5B+23.5% | $6.6B+26.6% | $6.2B+9.8% | $5.6B+14.8% | $5.3B-17.0% | $5.2B+4.7% | $5.7B+9.7% |
| Interest Expense | $101.0M+12.2% | $99.0M+23.8% | N/A | $98.0M+25.6% | $90.0M+25.0% | $80.0M+17.6% | N/A | $78.0M+8.3% |
| Income Tax | $141.0M-11.9% | $110.0M+35.8% | N/A | $65.0M+16.1% | $160.0M+146.2% | $81.0M+35.0% | N/A | $56.0M-38.5% |
| Net Income | $462.0M+156.7% | $330.0M+15.4% | $465.0M+210.0% | $253.0M+62.2% | $180.0M-11.3% | $286.0M+36.2% | $150.0M-6.3% | $156.0M-45.6% |
| EPS (Basic) | $7.07+159.9% | $5.04+16.4% | $7.07+212.8% | $3.85+62.4% | $2.72-11.4% | $4.33+35.3% | $2.26-5.8% | $2.37-45.4% |
| EPS (Diluted) | $7.01+159.6% | $4.98+16.6% | $6.97+214.0% | $3.81+63.5% | $2.70-10.9% | $4.27+35.1% | $2.22-6.3% | $2.33-45.7% |
| Diluted Shares (Avg) | 66M-1.5% | 66M-1.5% | N/A | 67M0.0% | 67M0.0% | 67M0.0% | N/A | 67M0.0% |
Not reported in any period shown, so not listed: Cost of Revenue, Gross Profit, R&D Expenses, SG&A Expenses, Operating Income, EBITDA.
RGA Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-K | Q3'2510-K | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-K |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $167.1B+25.2% | $164.1B+28.0% | $156.6B+31.9% | $152.0B+26.4% | $133.5B+21.5% | $128.2B+21.0% | $118.7B+21.6% | $120.3B+37.6% |
| Cash & Equivalents | $5.3B-2.4% | $5.0B-3.1% | $4.2B+25.3% | $4.6B-11.0% | $5.4B+17.8% | $5.2B-13.2% | $3.3B+12.0% | $5.2B+84.2% |
| Short-Term Investments | $378.0M-24.7% | $357.0M-21.4% | $346.0M-4.7% | $381.0M0.0% | $502.0M+49.9% | $454.0M+38.8% | $363.0M+63.5% | $381.0M+170.2% |
| Long-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities | $153.3B+26.4% | $150.7B+29.1% | $143.0B+32.7% | $138.9B+27.4% | $121.3B+21.3% | $116.7B+21.0% | $107.8B+21.8% | $109.0B+37.6% |
| Long-Term Debt | $5.7B-0.4% | $6.1B+6.5% | $5.7B+13.2% | $5.7B+13.2% | $5.7B+13.2% | $5.7B+29.5% | $5.0B+13.9% | $5.1B+13.9% |
| Total Equity | $13.7B+13.6% | $13.3B+16.6% | $13.5B+24.5% | $13.0B+16.6% | $12.1B+23.8% | $11.4B+20.4% | $10.8B+19.1% | $11.1B+38.0% |
| Retained Earnings | $10.8B+12.7% | $10.4B+9.9% | $10.2B+9.7% | $9.8B+6.4% | $9.6B+5.4% | $9.4B+5.7% | $9.3B+5.1% | $9.2B+5.2% |
Not reported in any period shown, so not listed: Current Assets, Inventory, Accounts Receivable, Goodwill, Current Liabilities, Non-Current Liabilities.
RGA Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-K | Q3'2510-K | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-K |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$484.0M+41.0% | -$2.9B-101.0% | $7.3B-57.2% | -$990.0M+7.2% | -$820.0M+15.2% | -$1.4B+75.1% | $17.1B+149.8% | -$1.1B-6.7% |
| Stock-Based Compensation | N/A | $21.0M+200.0% | N/A | N/A | N/A | $7.0M+16.7% | N/A | N/A |
| Investing Cash Flow | -$1.9B-65.3% | -$3.7B-118.1% | -$3.3B+21.4% | -$6.0B-393.1% | -$1.2B+65.9% | -$1.7B+54.4% | -$4.2B-182.4% | -$1.2B-1060.6% |
| Financing Cash Flow | $1.8B+228.3% | $1.7B-19.4% | $2.0B+149.1% | $4.2B+558.2% | $540.0M-55.7% | $2.1B+105.7% | $797.0M+128.4% | $639.0M+200.0% |
| Dividends Paid | $61.0M+3.4% | $61.0M+3.4% | $61.0M+5.2% | $61.0M+3.4% | $59.0M+5.4% | $59.0M+5.4% | $58.0M+3.6% | $59.0M+5.4% |
| Share Buybacks | $52.0M | $94.0M+147.4% | $61.0M+6000.0% | $75.0M+971.4% | $0-100.0% | $38.0M+137.5% | $1.0M-98.3% | $7.0M-86.0% |
Not reported in any period shown, so not listed: Depreciation & Amortization, Capital Expenditures, Free Cash Flow.
RGA Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-K | Q3'2510-K | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-K |
|---|---|---|---|---|---|---|---|---|
| Net Margin | 7.0%+3.8pp | 5.1%-0.4pp | 7.0%+4.1pp | 4.1%+1.3pp | 3.2%-1.0pp | 5.4%+2.1pp | 2.9%-0.3pp | 2.8%-2.8pp |
| Return on Equity | 3.4%+1.9pp | 2.5%0.0pp | 3.5%+2.1pp | 1.9%+0.5pp | 1.5%-0.6pp | 2.5%+0.3pp | 1.4%-0.4pp | 1.4%-2.2pp |
| Return on Assets | 0.3%+0.1pp | 0.2%0.0pp | 0.3%+0.2pp | 0.2%0.0pp | 0.1%-0.1pp | 0.2%0.0pp | 0.1%0.0pp | 0.1%-0.2pp |
| Debt-to-Equity | 0.42-0.1x | 0.460.0x | 0.420.0x | 0.440.0x | 0.480.0x | 0.500.0x | 0.470.0x | 0.46-0.1x |
| Asset Turnover | 0.040.0x | 0.040.0x | 0.040.0x | 0.040.0x | 0.040.0x | 0.040.0x | 0.040.0x | 0.050.0x |
Not reported in any period shown, so not listed: Gross Margin, Operating Margin, Current Ratio, FCF Margin.
Similar Companies
Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.
| Company | Fiscal year | Revenue | Net income | Net margin | Market cap | Health score |
|---|---|---|---|---|---|---|
| Reinsurance Group of America, Incorporated RGA | FY2025 | $23.7B | $1.2B | 5.0% | $17.4B | 23/100 |
| Everest Group, Ltd. EG | FY2025 | $17.5B | $1.6B | 9.1% | $14.9B | 38/100 |
| RenaissanceRe Holdings Ltd. RNR | FY2025 | $12.8B | $2.7B | 20.9% | $14.6B | 50/100 |
| Hamilton Insurance Group, Ltd. HG | FY2025 | $2.9B | $840.0M | 28.9% | $3.6B | 44/100 |
| SiriusPoint Ltd. SPNT | FY2025 | $3.2B | $460.0M | 14.3% | $2.9B | 34/100 |
| CNA Financial Corporation CNA | FY2025 | $15.0B | $1.3B | 8.5% | $13.0B | 35/100 |
Where Reinsurance Group of America, Incorporated Ranks
Frequently Asked Questions
What is Reinsurance Group of America, Incorporated's annual revenue?
Reinsurance Group of America, Incorporated (RGA) reported $23.7B in total revenue for fiscal year 2025. This represents a 7.2% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Reinsurance Group of America, Incorporated's revenue growing?
Reinsurance Group of America, Incorporated (RGA) revenue grew by 7.2% year-over-year, from $22.1B to $23.7B in fiscal year 2025.
Is Reinsurance Group of America, Incorporated profitable?
Yes, Reinsurance Group of America, Incorporated (RGA) reported a net income of $1.2B in fiscal year 2025, with a net profit margin of 5.0%.
How much debt does Reinsurance Group of America, Incorporated have?
As of fiscal year 2025, Reinsurance Group of America, Incorporated (RGA) had $4.2B in cash and equivalents against $5.7B in long-term debt.
What is Reinsurance Group of America, Incorporated's net profit margin?
Reinsurance Group of America, Incorporated (RGA) had a net profit margin of 5.0% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
Does Reinsurance Group of America, Incorporated pay dividends?
Yes, Reinsurance Group of America, Incorporated (RGA) paid $3.64 per share in dividends during fiscal year 2025.
What is Reinsurance Group of America, Incorporated's return on equity (ROE)?
Reinsurance Group of America, Incorporated (RGA) has a return on equity of 8.8% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Reinsurance Group of America, Incorporated's operating cash flow?
Reinsurance Group of America, Incorporated (RGA) generated $4.1B in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Reinsurance Group of America, Incorporated's total assets?
Reinsurance Group of America, Incorporated (RGA) had $156.6B in total assets as of fiscal year 2025, including both current and long-term assets.
What is Reinsurance Group of America, Incorporated's debt-to-equity ratio?
Reinsurance Group of America, Incorporated (RGA) had a debt-to-equity ratio of 0.42 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Reinsurance Group of America, Incorporated's return on assets (ROA)?
Reinsurance Group of America, Incorporated (RGA) had a return on assets of 0.8% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Reinsurance Group of America, Incorporated's P/E ratio?
Reinsurance Group of America, Incorporated (RGA) trades at 11.5x earnings, its market capitalization divided by net income of $1.5B net income, trailing 12 months to June 30, 2026. The market capitalization is $17.4B as of Oct 17, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is Reinsurance Group of America, Incorporated's price-to-sales ratio?
Reinsurance Group of America, Incorporated (RGA) trades at 0.7x sales, its market capitalization divided by revenue of $26.0B revenue, trailing 12 months to June 30, 2026. The market capitalization is $17.4B as of Oct 17, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is Reinsurance Group of America, Incorporated's Piotroski F-Score?
Reinsurance Group of America, Incorporated (RGA) has a Piotroski F-Score of 6 out of 7 computable signals; 2 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Reinsurance Group of America, Incorporated's earnings high quality?
Reinsurance Group of America, Incorporated (RGA) has an earnings quality ratio of 3.46x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
How financially healthy is Reinsurance Group of America, Incorporated?
Reinsurance Group of America, Incorporated (RGA) scores 23 out of 100 on our Financial Health Score, indicating weak standing within its insurers peer group. The score is a 0-100 composite of six dimensions (Loss Ratio, Premium Growth, Capital, Investment Yield, Combined Ratio, Stability), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.