Reinsurance Group of America Inc (RGA)

Reinsurance Group of America, Incorporated provides life and health, and asset-intensive reinsurance in the United States, Latin America, Canada, Europe, the Middle East, Africa, Asia, and Australia. It offers individual and group life and health, disability, long-term care, and critical illness reinsurance; and financial solutions, such as asset-intensive reinsurance, longevity reinsurance, stable value products, pension risk transfer transactions, and capital solutions. The company also provides reinsurance for mortality, morbidity, lapse, and investment-related risks; coinsurance of payout annuities; underwritten annuities; funding agreement backed note program and other capital motivated solutions; and superannuation. Reinsurance Group of America, Incorporated was founded in 1973 and is headquartered in Chesterfield, Missouri.

Ticker: RGA
Exchange: NYSE
Sector: Financial Services
Industry: Insurance - Reinsurance
Market cap: $17.02B
52-week range: $182.73 - $272.44

Valuation

Share price: $261.90 (close of Nov 6, 2026)
P/E (TTM): 10.01x
Price to book: 1.45x
Price to free cash flow: 7.03x
Enterprise value: $17.69B
Book value per share: $180.40

Price performance

Period	Change
1 day	-0.02%
5 days	-1.07%
1 month	+4.28%
3 months	+10.83%
6 months	+22.05%
Year to date	+28.72%
1 year	+36.99%
3 years	+70.22%
5 years	+136.48%
10 years	+140.87%
All time	+446.19%

Short interest

As of: Oct 15, 2026
Short % of float: 1.80%
Shares short: 1.04M
Days to cover: 2.04
Change since prior report: +9.83%
Source: FINRA consolidated short interest

Profitability and growth

Return on equity: 8.72%
Return on assets: 0.75%
Net margin: 4.99%
Revenue growth: 7.20%
Net income growth: 64.85%
Free cash flow growth: -59.16%

Cash flow and balance sheet

Free cash flow yield (TTM): 14.22%
Net debt to EBITDA: 0.26x

Latest reported year

Period end: Dec 31, 2025
Fiscal year: 2025
Revenue: $23.70B
Net income: $1.18B
Earnings per share: $17.94
Interest expense: $366.00M
Shares outstanding: 65.90M

Income statement by year

Period end	Revenue	Net income	EPS
2025-12-31	$23.70B	$1.18B	$17.94
2024-12-31	$22.11B	$717.00M	$10.90
2023-12-31	$18.57B	$902.00M	$13.60
2022-12-31	$16.23B	$517.00M	$7.73
2021-12-31	$16.67B	$1.17B	$17.26
2020-12-31	$14.60B	$415.00M	$6.35
2019-12-31	$14.30B	$870.00M	$13.88
2018-12-31	$12.88B	$716.00M	$11.25
2017-12-31	$12.52B	$1.82B	$28.28
2016-12-31	$11.52B	$701.44M	$10.91

Margins and returns by year

Period end	Net margin	Return on equity
2025-12-31	4.99%	8.72%
2024-12-31	3.24%	6.57%
2023-12-31	4.86%	9.84%
2022-12-31	3.19%	7.21%
2021-12-31	7.02%	14.30%
2020-12-31	2.84%	2.89%
2019-12-31	6.08%	7.50%
2018-12-31	5.56%	8.47%
2017-12-31	14.56%	19.04%
2016-12-31	6.09%	9.89%

Cash and debt by year

Period end	Cash	Debt
2025-12-31	$4.17B	$5.71B
2024-12-31	$3.33B	$5.04B
2023-12-31	$2.97B	$4.43B
2022-12-31	$2.93B	$3.96B
2021-12-31	$2.93B	$3.67B
2020-12-31	$2.95B	$3.57B
2019-12-31	$3.41B	$2.98B
2018-12-31	$1.45B	$2.79B
2017-12-31	$1.30B	$2.79B
2016-12-31	$1.20B	$3.09B

Free cash flow by year

Period end	Free cash flow	Stock-based compensation
2025-12-31	$3.81B	$42.00M
2024-12-31	$9.34B	$60.00M
2023-12-31	$4.04B	$46.00M
2022-12-31	$1.32B	$45.00M
2021-12-31	$4.16B	$55.00M
2020-12-31	$3.29B	-$12.00M
2019-12-31	$2.27B	$39.00M
2018-12-31	$1.55B	$30.00M
2017-12-31	$1.94B	$22.00M
2016-12-31	$1.42B	$33.10M

Dividend history

Most recent payment: Aug 18, 2026
Paid in the last twelve months: $3.77

Payment date	Dividend per share
2026-08-18	$0.98
2026-05-19	$0.93
2026-02-17	$0.93
2025-11-10	$0.93
2025-08-12	$0.93
2025-05-13	$0.89
2025-02-18	$0.89
2024-11-12	$0.89

Investor relations

Past earnings dates

Reported	Fiscal period	EPS estimate
2026-11-05	Sep 2026	$6.98
2026-08-06	Jun 2026	$6.51
2026-05-07	Mar 2026	$6.19
2026-02-05	Dec 2025	$5.86
2025-10-30	Sep 2025	$5.80
2025-07-31	Jun 2025	$5.58
2025-05-01	Mar 2025	$5.33
2025-02-06	Dec 2024	$5.24

Filings and sources

Company website: rgare.com
SEC filings: 10-K, 10-Q and 8-K on EDGAR
Earnings calendar: All upcoming reports

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