For the twelve months ended Sep 30, 2026, Reinsurance Group of America Incorporated reported $27.32B of revenue and $1.71B of net income.
RGA revenue was $7.55B in fiscal Q3 2026 (ended Sep 30, 2026), up 21.7% from a year earlier and up 13.8% from the prior quarter. For the full fiscal 2025 it was $23.70B, up 7.2% from fiscal 2024. Compound annual growth was +10.2% over 5 years and +8.6% over 10 years. It rose in 9 of the last 10 fiscal years. Fiscal 2025 is the highest of the 15 fiscal years on file.
RGA net income was $456.00M in fiscal Q3 2026 (ended Sep 30, 2026), up 80.2% from a year earlier and down 1.3% from the prior quarter. For the full fiscal 2025 it was $1.18B, up 64.9% from fiscal 2024. Compound annual growth was +23.3% over 5 years and +8.9% over 10 years. It rose in 6 of the last 10 fiscal years.
RGA diluted EPS was $6.92 in fiscal Q3 2026 (ended Sep 30, 2026), up 81.6% from a year earlier and down 1.3% from the prior quarter. For the full fiscal 2025 it was $17.69, up 64.9% from fiscal 2024. Compound annual growth was +22.9% over 5 years and +9.0% over 10 years.
| Line item | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $23.70B | $22.11B | $18.57B | $16.23B | $16.67B | $14.60B | $14.30B | $12.88B | $12.52B | $11.52B |
| Interest expense | $366.00M | $304.00M | $257.00M | $191.00M | $139.00M | $170.00M | $173.00M | $147.00M | $146.00M | $137.62M |
| Pre-tax income | $1.54B | $980.00M | $1.16B | $718.00M | $1.39B | $553.00M | $1.13B | $846.00M | $1.14B | $1.04B |
| Income tax | $351.00M | $256.00M | $251.00M | $197.00M | $215.00M | $138.00M | $262.00M | $130.00M | -$679.00M | $342.50M |
| Net income | $1.18B | $717.00M | $902.00M | $517.00M | $1.17B | $415.00M | $870.00M | $716.00M | $1.82B | $701.44M |
| EPS, basic | $17.94 | $10.90 | $13.60 | $7.73 | $17.26 | $6.35 | $13.88 | $11.25 | $28.28 | $10.91 |
| EPS, diluted | $17.69 | $10.73 | $13.44 | $7.64 | $17.13 | $6.31 | $13.62 | $11.00 | $27.71 | $10.79 |
| Diluted shares | 66.8M | 66.9M | 67.1M | 67.7M | 68.3M | 65.8M | 63.9M | 65.1M | 65.8M | 65.0M |
| Line item | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $4.17B | $3.33B | $2.97B | $2.93B | $2.93B | $2.95B | $3.41B | $1.45B | $1.30B | $1.20B |
| Goodwill | - | - | - | $7.00M | $7.00M | $7.00M | $7.00M | $7.00M | $7.00M | $7.00M |
| Total assets | $156.59B | $118.67B | $97.62B | $84.90B | $92.94B | $84.66B | $76.73B | $64.53B | $60.51B | $53.10B |
| Total debt | $5.71B | $5.04B | $4.43B | $3.96B | $3.67B | $3.57B | $2.98B | $2.79B | $2.79B | $3.09B |
| Total liabilities | $143.04B | $107.77B | $88.45B | $77.73B | $79.16B | $70.30B | $65.13B | $56.09B | $50.95B | $46.00B |
| Shareholders' equity | $13.46B | $10.82B | $9.08B | $7.08B | $8.18B | $14.35B | $11.60B | $8.45B | $9.57B | $7.09B |
| Line item | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $4.09B | $9.37B | $4.04B | $1.34B | $4.18B | $3.32B | $2.31B | $1.58B | $1.98B | $1.47B |
| Capital expenditures | - | - | - | $25.00M | $19.00M | $28.00M | $34.00M | $29.00M | $44.00M | $44.64M |
| Free cash flow | - | - | - | $1.32B | $4.16B | $3.29B | $2.27B | $1.55B | $1.94B | $1.42B |
| Investing cash flow | -$12.09B | -$12.54B | -$4.07B | -$5.69B | -$4.63B | -$2.68B | -$2.64B | -$637.00M | -$1.61B | -$2.83B |
| Financing cash flow | $8.80B | $3.66B | $78.00M | $4.44B | $20.00M | $1.25B | -$121.00M | -$322.00M | -$324.00M | $1.06B |
| Dividends paid | $240.00M | $229.00M | $219.00M | $205.00M | $194.00M | $182.00M | $163.00M | $140.00M | $117.00M | $100.37M |
| Depreciation and amortization | $43.00M | $46.00M | $41.00M | $38.00M | $43.00M | $49.00M | $49.00M | $45.00M | $53.00M | $26.85M |
| Line item | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue growth, YoY | 7.2% | 19.1% | 14.4% | -2.6% | 14.2% | 2.1% | 11.1% | 2.9% | 8.6% | 10.6% |
| Net income growth, YoY | 64.9% | -20.5% | 74.5% | -55.8% | 181.9% | -52.3% | 21.5% | -60.7% | 159.8% | 39.7% |
| EPS growth, YoY | 64.9% | -20.2% | 75.9% | -55.4% | 171.5% | -53.7% | 23.8% | -60.3% | 156.8% | 44.6% |
| Net margin | 5.0% | 3.2% | 4.9% | 3.2% | 7.0% | 2.8% | 6.1% | 5.6% | 14.6% | 6.1% |
| Free cash flow margin | - | - | - | 8.1% | 25.0% | 22.6% | 15.9% | 12.1% | 15.5% | 12.3% |
| Return on equity | 8.8% | 6.6% | 9.9% | 7.3% | 14.3% | 2.9% | 7.5% | 8.5% | 19.0% | 9.9% |
| Return on assets | 0.8% | 0.6% | 0.9% | 0.6% | 1.3% | 0.5% | 1.1% | 1.1% | 3.0% | 1.3% |
| Debt to equity | 0.42 | 0.47 | 0.49 | 0.56 | 0.45 | 0.25 | 0.26 | 0.33 | 0.29 | 0.44 |
| Line item | Sep 30, 2026 | Jun 30, 2026 | Mar 31, 2026 | Dec 31, 2025 | Sep 30, 2025 | Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $7.55B | $6.64B | $6.49B | $6.63B | $6.20B | $5.60B | $5.26B | $5.24B | $5.65B | $4.88B | $6.34B | $5.01B |
| Interest expense | $96.00M | $101.00M | $99.00M | $98.00M | $98.00M | $90.00M | $80.00M | $86.00M | $78.00M | $72.00M | $68.00M | $69.00M |
| Pre-tax income | $624.00M | $605.00M | $441.00M | $510.00M | $320.00M | $341.00M | $369.00M | $225.00M | $214.00M | $269.00M | $272.00M | $164.00M |
| Income tax | $167.00M | $141.00M | $110.00M | $45.00M | $65.00M | $160.00M | $81.00M | $75.00M | $56.00M | $65.00M | $60.00M | $4.00M |
| Net income | $456.00M | $462.00M | $330.00M | $465.00M | $253.00M | $180.00M | $286.00M | $150.00M | $158.00M | $204.00M | $212.00M | $160.00M |
| EPS, basic | $6.98 | $7.07 | $5.04 | $7.07 | $3.85 | $2.72 | $4.33 | $2.26 | $2.37 | $3.07 | $3.20 | $2.40 |
| EPS, diluted | $6.92 | $7.01 | $4.98 | $6.97 | $3.81 | $2.70 | $4.27 | $2.22 | $2.33 | $3.03 | $3.16 | $2.37 |
| Diluted shares | 66.0M | 66.0M | 66.0M | - | 67.0M | 67.0M | 67.0M | - | 67.0M | 67.0M | 67.0M | - |
| Line item | Sep 30, 2026 | Jun 30, 2026 | Mar 31, 2026 | Dec 31, 2025 | Sep 30, 2025 | Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $4.65B | $5.29B | $4.99B | $4.17B | $4.63B | $5.42B | $5.15B | $3.33B | $5.20B | $4.60B | $5.93B | $2.97B |
| Total assets | $169.52B | $167.12B | $164.06B | $156.59B | $152.00B | $133.48B | $128.21B | $118.67B | $120.26B | $109.89B | $106.00B | $97.62B |
| Total debt | $5.31B | $5.71B | $6.11B | $5.71B | $5.73B | $5.73B | $5.73B | $5.04B | $5.07B | $5.07B | $4.43B | $4.43B |
| Total liabilities | $157.79B | $153.33B | $150.68B | $143.04B | $138.94B | $121.34B | $116.72B | $107.77B | $109.04B | $100.06B | $96.44B | $88.45B |
| Shareholders' equity | $11.64B | $13.69B | $13.29B | $13.46B | $12.98B | $12.05B | $11.40B | $10.82B | $11.13B | $9.73B | $9.47B | $9.08B |
| Line item | Sep 30, 2026 | Jun 30, 2026 | Mar 31, 2026 | Dec 31, 2025 | Sep 30, 2025 | Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$1.35B | -$484.00M | -$2.87B | $7.33B | -$990.00M | -$820.00M | -$1.43B | $17.14B | -$1.07B | -$967.00M | -$5.74B | $6.86B |
| Investing cash flow | -$4.12B | -$1.95B | -$3.70B | -$3.27B | -$5.95B | -$1.18B | -$1.70B | -$4.16B | -$1.21B | -$3.46B | -$3.72B | -$1.47B |
| Financing cash flow | $2.10B | $1.77B | $1.67B | $1.99B | $4.21B | $540.00M | $2.07B | $797.00M | $639.00M | $1.22B | $1.00B | $349.00M |
| Dividends paid | $64.00M | $61.00M | $61.00M | $61.00M | $61.00M | $59.00M | $59.00M | $58.00M | $59.00M | $56.00M | $56.00M | $56.00M |
| Line item | Sep 30, 2026 | Jun 30, 2026 | Mar 31, 2026 | Dec 31, 2025 | Sep 30, 2025 | Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue growth, YoY | 21.7% | 18.5% | 23.5% | 26.6% | 9.8% | 14.8% | -17.0% | 4.7% | 9.7% | 17.4% | 49.1% | 14.9% |
| Net income growth, YoY | 80.2% | 156.7% | 15.4% | 210.0% | 60.1% | -11.8% | 34.9% | -6.3% | -45.3% | -1.4% | -16.2% | -45.4% |
| EPS growth, YoY | 81.6% | 159.6% | 16.6% | 214.0% | 63.5% | -10.9% | 35.1% | -6.3% | -45.7% | -0.7% | -15.1% | -44.9% |
| Net margin | 6.0% | 7.0% | 5.1% | 7.0% | 4.1% | 3.2% | 5.4% | 2.9% | 2.8% | 4.2% | 3.3% | 3.2% |
| Debt to equity | 0.46 | 0.42 | 0.46 | 0.42 | 0.44 | 0.48 | 0.50 | 0.47 | 0.46 | 0.52 | 0.47 | 0.49 |
Source: XBRL data Reinsurance Group of America Incorporated files with the SEC, latest filing dated Nov 6, 2026 (see filings on SEC EDGAR). Provided for information only, not investment advice. Check the filing before relying on a number.
Per-share figures are as filed. The filings show no stock split in these periods.
EPS growth is left out where the share count moved enough to suggest a split the filings do not show. Growth rates need a positive starting figure. CAGR is compound annual growth between fiscal years. The CSV holds every period on file, in full figures, from the same SEC filings.
| Company | Revenue | Growth | Net income | Net margin | Market cap |
|---|---|---|---|---|---|
| RGA | $27.32B | +22.5% | $1.71B | 6.3% | $17.10B |
| MFC | C$8.13B | +7.1% | C$5.57B | 68.5% | $71.43B |
| MET | $82.56B | +14.8% | $5.13B | 6.2% | $62.45B |
| PRU | $61.33B | +6.5% | $3.88B | 6.3% | $40.90B |
| SLF | C$41.90B | +8.0% | C$3.55B | 8.5% | $39.70B |
| PUK | $11.49B | +7.0% | $3.98B | 34.6% | $30.94B |
| CRBG | $20.81B | +13.6% | $2.20B | 10.6% | $14.95B |
| AEG | - | - | €977.00M | - | $14.93B |
| GL | $6.27B | +5.6% | $1.19B | 18.9% | $11.86B |