RGA Balance Sheet

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
Investments in Debt Securities	100,242	76,571	59,950	52,609	60,646
Investments in Equity & Preferred Securities	4,058	3,222	2,774	2,461	2,147
Policy Loans	3,541	1,321	1,206	1,231	1,234
Other Investments	410	429	289	256	228
Total Investments	120,552	91,366	72,540	64,015	71,296
Cash & Equivalents	4,168	3,326	2,970	2,927	2,948
Reinsurance Recoverable	7,175	5,531	5,448	2,671	2,580
Other Receivables	5,771	4,884	4,287	3,643	3,421
Deferred Policy Acquisition Cost	6,079	5,543	4,617	4,128	3,690
Property, Plant & Equipment	350	325	279	-	139
Goodwill	-	-	-	-	7
Other Intangible Assets	136	133	148	152	167
Other Current Assets	185	121	97	170	175
Long-Term Deferred Tax Assets	50	78	112	116	41
Other Long-Term Assets	12,124	7,368	7,125	7,082	7,711
Total Assets	156,590	118,675	97,623	84,904	92,175
Insurance & Annuity Liabilities	117,248	87,121	70,601	65,501	61,304
Unpaid Claims	3,011	2,693	2,730	2,480	6,993
Unearned Premiums	802	907	488	-	-
Reinsurance Payable	1,888	1,316	1,103	725	613
Current Portion of Long-Term Debt	404	-	-	400	-
Current Income Taxes Payable	28	-	-	-	-
Long-Term Debt	5,306	5,042	4,427	3,561	3,847
Long-Term Deferred Tax Liabilities	2,970	2,199	1,862	1,383	2,886
Other Current Liabilities	7,815	5,778	4,889	1,823	833
Other Long-Term Liabilities	3,296	2,450	2,053	1,727	2,354
Total Liabilities	143,039	107,769	88,452	77,733	79,161
Common Stock	1	1	1	1	1
Additional Paid-In Capital	2,640	2,600	2,544	2,502	2,461
Retained Earnings	10,151	9,255	8,805	8,169	8,563
Treasury Stock	-2,013	-1,889	-1,900	-1,720	-1,653
Comprehensive Income & Other	2,682	849	-369	-1,871	3,642
Total Common Equity	13,461	10,816	9,081	7,081	13,014
Minority Interest	90	90	90	90	-
Shareholders' Equity	13,551	10,906	9,171	7,171	13,014
Total Liabilities & Equity	156,590	118,675	97,623	84,904	92,175
Filing Date Shares Outstanding	65.56	66.02	65.76	66.86	67.19
Total Common Shares Outstanding	65.46	65.87	65.62	66.68	67.17
Total Debt	5,710	5,042	4,427	3,961	3,847
Net Cash (Debt)	-1,542	-1,716	-1,457	-1,034	-899
Net Cash Per Share	-23.08	-25.65	-21.71	-15.27	-13.16
Book Value Per Share	205.63	164.20	138.39	106.20	193.75
Tangible Book Value	13,325	10,683	8,933	6,929	12,840
Tangible Book Value Per Share	203.55	162.18	136.13	103.92	191.15

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

SEC Filings: 10-K · 10-Q