Reinsurance Group of America, Incorporated (RGA)

RGA Income Statement

Financials in millions USD. Fiscal year is January - December.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Jun 30, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Premiums & Annuity Revenue	16,717	17,843	15,085	13,078	12,513	11,694
Total Interest & Dividend Income	4,857	4,320	3,410	2,830	2,719	2,575
Gain (Loss) on Sale of Investments	-448	-745	-481	-539	567	-33
Other Revenue	625	689	553	858	868	360
Total Revenue	21,751	22,107	18,567	16,227	16,667	14,596
Revenue Growth (YoY)	1.76%	19.07%	14.42%	-2.64%	14.19%	2.07%
Policy Benefits	17,246	17,914	14,664	12,965	12,882	11,779
Policy Acquisition & Underwriting Costs	1,713	1,641	1,397	1,344	1,325	1,261
Other Operating Expenses	1,249	1,208	1,043	964	881	828
Total Operating Expenses	20,268	20,823	17,150	15,318	15,143	13,856
Operating Income	1,483	1,284	1,417	909	1,524	740
Interest Expense	-334	-304	-257	-191	-139	-170
Other Non Operating Income (Expenses)	-	-	-	-	-	-17
Pretax Income	1,149	980	1,160	718	1,385	553
Income Tax Expense	372	256	251	197	215	138
Earnings From Continuing Ops.	777	724	909	521	1,170	415
Minority Interest in Earnings	-7	-7	-7	-4	-	-
Net Income	770	717	902	517	1,170	415
Net Income to Common	770	717	902	517	1,170	415
Net Income Growth	-10.26%	-20.51%	74.47%	-55.81%	181.93%	-52.30%
Shares Outstanding (Basic)	66	66	66	67	68	65
Shares Outstanding (Diluted)	67	67	67	68	68	66
Shares Change (YoY)	0.45%	-0.30%	-0.89%	-0.88%	3.80%	2.97%
EPS (Basic)	11.70	10.90	13.60	7.73	17.26	6.35
EPS (Diluted)	11.51	10.73	13.44	7.64	17.13	6.31
EPS Growth	-10.46%	-20.16%	75.92%	-55.40%	171.47%	-53.67%
Free Cash Flow	4,916	9,370	4,044	1,343	4,182	3,294
Free Cash Flow Per Share	73.48	140.06	60.27	19.84	61.23	50.06
Dividend Per Share	3.560	3.480	3.300	3.060	2.860	2.800
Dividend Growth	4.71%	5.46%	7.84%	6.99%	2.14%	7.69%
Operating Margin	6.82%	5.81%	7.63%	5.60%	9.14%	5.07%
Profit Margin	3.54%	3.24%	4.86%	3.19%	7.02%	2.84%
Free Cash Flow Margin	22.60%	42.38%	21.78%	8.28%	25.09%	22.57%
EBITDA	1,532	1,330	1,458	947	1,567	914
EBITDA Margin	7.04%	6.02%	7.85%	5.84%	9.40%	6.26%
D&A For EBITDA	48.5	46	41	38	43	174
EBIT	1,483	1,284	1,417	909	1,524	740
EBIT Margin	6.82%	5.81%	7.63%	5.60%	9.14%	5.07%
Effective Tax Rate	32.38%	26.12%	21.64%	27.44%	15.52%	24.95%
Revenue as Reported	21,751	22,107	18,567	16,227	16,667	14,596

Updated Jul 31, 2025. Source: S&P Global Market Intelligence. Insurance template. Financial Sources.

SEC Filings: 10-K · 10-Q