Reinsurance Group of America, Incorporated (RGA)

RGA Balance Sheet

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

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep 30, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Investments in Debt Securities	98,434	76,571	59,950	52,609	60,646	56,573
Investments in Equity & Preferred Securities	3,809	3,222	2,774	2,461	2,147	1,499
Policy Loans	3,570	1,321	1,206	1,231	1,234	1,258
Other Investments	427	429	289	256	228	325
Total Investments	117,905	91,366	72,540	64,015	71,296	66,377
Cash & Equivalents	4,625	3,326	2,970	2,927	2,948	3,408
Reinsurance Recoverable	5,758	5,531	5,448	2,671	2,580	983
Other Receivables	5,310	4,884	4,287	3,643	3,421	3,353
Deferred Policy Acquisition Cost	5,954	5,543	4,617	4,128	3,690	3,616
Separate Account Assets	-	-	-	-	-	289
Property, Plant & Equipment	-	325	279	-	139	144
Goodwill	-	-	-	-	7	7
Other Intangible Assets	-	133	148	152	167	177
Other Current Assets	19	121	97	170	175	140
Long-Term Deferred Tax Assets	-	78	112	116	41	19
Other Long-Term Assets	12,432	7,368	7,125	7,082	7,711	6,143
Total Assets	152,003	118,675	97,623	84,904	92,175	84,656
Insurance & Annuity Liabilities	114,771	87,121	70,601	65,501	61,304	53,822
Unpaid Claims	3,032	2,693	2,730	2,480	6,993	6,413
Unearned Premiums	814	907	488	-	-	-
Reinsurance Payable	1,600	1,316	1,103	725	613	598
Current Portion of Long-Term Debt	-	4	-	400	-	-
Long-Term Debt	5,734	5,038	4,427	3,561	3,847	3,961
Long-Term Deferred Tax Liabilities	2,591	2,199	1,862	1,383	2,886	3,263
Other Current Liabilities	6,137	5,778	4,889	1,823	833	956
Other Long-Term Liabilities	4,256	2,412	2,053	1,727	2,354	956
Total Liabilities	138,935	107,769	88,452	77,733	79,161	70,304
Common Stock	1	1	1	1	1	1
Additional Paid-In Capital	2,628	2,600	2,544	2,502	2,461	2,406
Retained Earnings	9,757	9,255	8,805	8,169	8,563	8,148
Treasury Stock	-1,960	-1,889	-1,900	-1,720	-1,653	-1,562
Comprehensive Income & Other	2,552	849	-369	-1,871	3,642	5,359
Total Common Equity	12,978	10,816	9,081	7,081	13,014	14,352
Minority Interest	90	90	90	90	-	-
Shareholders' Equity	13,068	10,906	9,171	7,171	13,014	14,352
Total Liabilities & Equity	152,003	118,675	97,623	84,904	92,175	84,656
Filing Date Shares Outstanding	65.71	66.02	65.76	66.86	67.19	67.97
Total Common Shares Outstanding	65.71	65.87	65.62	66.68	67.17	67.96
Total Debt	5,734	5,042	4,427	3,961	3,847	3,961
Net Cash (Debt)	-1,109	-1,716	-1,457	-1,034	-899	-553
Net Cash Per Share	-16.58	-25.65	-21.71	-15.27	-13.16	-8.40
Book Value Per Share	197.51	164.20	138.39	106.20	193.75	211.19
Tangible Book Value	12,978	10,683	8,933	6,929	12,840	14,168
Tangible Book Value Per Share	197.51	162.18	136.13	103.92	191.15	208.49

Updated Sep 30, 2025. Source: S&P Global Market Intelligence. Insurance template. Financial Sources.

SEC Filings: 10-K · 10-Q