Reinsurance Group of America, Incorporated (RGA)

RGA Financials Overview

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

Revenue & Profits

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Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Revenue Revenue Growth	27,316	23,698	22,107	18,567	16,227	16,667
Revenue Growth	22.47%	7.20%	19.07%	14.42%	-2.64%	14.19%
Operating Income Operating Income Growth	2,574	1,906	1,284	1,417	909	1,524
Net Income Net Income Growth	1,711	1,182	717	902	517	1,170
Earnings Per Share EPS Growth	25.85	17.69	10.73	13.44	7.64	17.13
EPS Growth	99.11%	64.86%	-20.16%	75.92%	-55.40%	171.47%

Revenue by Segment

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Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022
Period Ending	Sep 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022
US and Latin America US and Latin America Growth	14,606	12,331	12,921	10,697	8,909
Canada Canada Growth	2,096	2,035	1,888	1,578	1,589
Europe, Middle East and Africa Europe, Middle East and Africa Growth	4,412	3,844	3,138	2,560	2,530
Asia Pacific Asia Pacific Growth	5,981	5,146	4,254	3,799	3,472
Corporate and Other Corporate and Other Growth	825	699	587	441	293
Revenue (Total) Revenue (Total) Growth	27,316	23,698	22,107	18,567	16,227

Cash & Debt

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Fiscal Year	Current	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Cash & Investments Cash & Investments Growth	4,648	4,168	3,326	2,970	2,927	2,948
Total Debt Total Debt Growth	5,310	5,819	5,042	4,427	3,961	3,847
Net Cash (Debt) Net Cash Growth	-662	-1,651	-1,716	-1,457	-1,034	-899
Net Cash Growth	-	-	-	-	-	-
Net Cash Per Share Net Cash Per Share Growth	-10.02	-24.72	-25.65	-21.71	-15.27	-13.16

Cash Flow & CapEx

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Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Operating Cash Flow Operating Cash Flow Growth	5,564	4,091	9,370	4,044	1,343	4,182
Capital Expenditures CapEx Growth	-	-	-	-	-	-
Free Cash Flow Free Cash Flow Growth	5,564	4,091	9,370	4,044	1,343	4,182
Free Cash Flow Growth	14.98%	-56.34%	131.70%	201.12%	-67.89%	26.96%

Margins

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Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Operating Margin	9.42%	8.04%	5.81%	7.63%	5.60%	9.14%
Pretax Margin	7.98%	6.50%	4.43%	6.25%	4.42%	8.31%
Profit Margin	6.26%	4.99%	3.24%	4.86%	3.19%	7.02%
FCF Margin	20.37%	17.26%	42.38%	21.78%	8.28%	25.09%

Dividends

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Fiscal Year	Current	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Nov 11, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Dividend Per Share Dividend Per Share Growth	3.920	3.640	3.480	3.300	3.060	2.860
Dividend Per Share Growth	4.95%	4.60%	5.46%	7.84%	6.99%	2.14%
Dividend Yield	1.43%	1.78%	1.63%	2.03%	2.15%	2.60%

Valuation

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Fiscal Year	Current	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Nov 11, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
PE Ratio	10.60	11.31	19.62	11.82	18.37	6.33
Forward PE	9.21	8.13	9.39	8.55	9.24	10.25
P/FCF Ratio	3.20	3.27	1.50	2.64	7.07	1.77
PS Ratio	0.65	0.56	0.64	0.57	0.59	0.44

Data Sources: S&P Global Market Intelligence and Fiscal.ai Last updated: Sep 30, 2026

Financial data is provided by S&P Global Market Intelligence and updates within hours after each earnings release, which is every three months for this company. Revenue segment data is provided by Fiscal.ai.

Update frequency:

Quarterly

Last checked:

Nov 10, 2026

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