RGA Income Statement

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

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Premiums & Annuity Revenue	17,230	17,843	15,085	13,078	12,513
Total Interest & Dividend Income	5,613	4,320	3,410	2,830	2,719
Gain (Loss) on Sale of Investments	-245	-745	-481	-539	567
Other Revenue	1,100	689	553	858	868
Total Revenue	23,698	22,107	18,567	16,227	16,667
Revenue Growth (YoY)	7.20%	19.07%	14.42%	-2.64%	14.19%
Policy Benefits	18,638	17,914	14,664	12,965	12,882
Policy Acquisition & Underwriting Costs	1,821	1,641	1,397	1,344	1,325
Other Operating Expenses	1,291	1,208	1,043	964	881
Total Operating Expenses	21,792	20,823	17,150	15,318	15,143
Operating Income	1,906	1,284	1,417	909	1,524
Interest Expense	-366	-304	-257	-191	-139
Pretax Income	1,540	980	1,160	718	1,385
Income Tax Expense	351	256	251	197	215
Earnings From Continuing Ops.	1,189	724	909	521	1,170
Minority Interest in Earnings	-7	-7	-7	-4	-
Net Income	1,182	717	902	517	1,170
Net Income to Common	1,182	717	902	517	1,170
Net Income Growth	64.85%	-20.51%	74.47%	-55.81%	181.93%
Shares Outstanding (Basic)	66	66	66	67	68
Shares Outstanding (Diluted)	67	67	67	68	68
Shares Change (YoY)	-0.15%	-0.30%	-0.89%	-0.88%	3.80%
EPS (Basic)	17.94	10.90	13.60	7.73	17.26
EPS (Diluted)	17.69	10.73	13.44	7.64	17.13
EPS Growth	64.86%	-20.16%	75.92%	-55.40%	171.47%
Free Cash Flow	4,091	9,370	4,044	1,343	4,182
Free Cash Flow Per Share	61.24	140.06	60.27	19.84	61.23
Dividend Per Share	3.640	3.480	3.300	3.060	2.860
Dividend Growth	4.60%	5.46%	7.84%	6.99%	2.14%
Operating Margin	8.04%	5.81%	7.63%	5.60%	9.14%
Profit Margin	4.99%	3.24%	4.86%	3.19%	7.02%
Free Cash Flow Margin	17.26%	42.38%	21.78%	8.28%	25.09%
EBITDA	1,949	1,330	1,458	947	1,567
EBITDA Margin	8.22%	6.02%	7.85%	5.84%	9.40%
D&A For EBITDA	43	46	41	38	43
EBIT	1,906	1,284	1,417	909	1,524
EBIT Margin	8.04%	5.81%	7.63%	5.60%	9.14%
Effective Tax Rate	22.79%	26.12%	21.64%	27.44%	15.52%
Revenue as Reported	23,698	22,107	18,567	16,227	16,667

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

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