Reinsurance Group of America, Incorporated (RGA)

RGA Income Statement

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

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Net Premiums Earned	17,230	17,843	15,085	13,078	12,513
Investment Income	5,806	4,416	3,591	3,161	3,138
Net Gains on Investments	-245	-745	-481	-539	567
Total Other Revenues	907	593	372	527	449
Revenue	23,698	22,107	18,567	16,227	16,667
Revenue Growth (YoY)	7.20%	19.07%	14.42%	-2.64%	14.19%
Insurance Benefits & Claims	18,638	17,914	14,664	12,965	12,882
Policy Amortization Costs	1,821	1,641	1,397	1,344	1,325
Other Operating Expenses	1,699	1,572	1,346	1,200	1,075
Operating Income	1,540	980	1,160	718	1,385
Pretax Income	1,540	980	1,160	718	1,385
Provision for Income Taxes	351	256	251	197	215
Net Income	2,371	1,441	1,811	521	1,170
Minority Interest in Earnings	-7	-7	-7	-	-
Net Income to Common	2,371	1,441	1,811	521	1,170
Net Income Growth	64.54%	-20.43%	247.60%	-55.47%	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 Growth	-56.34%	131.70%	201.12%	-67.89%	26.96%
Free Cash Flow Per Share	61.24	140.06	60.27	19.84	61.23
Dividends 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	6.50%	4.43%	6.25%	4.42%	8.31%
Profit Margin	5.02%	3.27%	4.90%	3.21%	7.02%
FCF Margin	17.26%	42.38%	21.78%	8.28%	25.09%
EBITDA	1,583	1,026	1,201	756	1,428
EBITDA Margin	6.68%	4.64%	6.47%	4.66%	8.57%
EBIT	1,540	980	1,160	718	1,385
EBIT Margin	6.50%	4.43%	6.25%	4.42%	8.31%
Effective Tax Rate	22.79%	26.12%	21.64%	27.44%	15.52%

Updated Dec 31, 2025. Data Source: Fiscal.ai. Insurance template. Financial Sources.

SEC Filings: 10-K · 10-Q