For the twelve months ended Sep 30, 2026, Reinsurance Group of America Incorporated 7.125% Fixed-Rate Re reported $27.32B of revenue and $1.71B of net income.
RZC 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.
RZC 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.
RZC 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 7.125% Fixed-Rate Re 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 |
|---|---|---|---|---|---|
| RZC | $27.32B | +22.5% | $1.71B | 6.3% | $17.78B |
| MFC | C$8.13B | +7.1% | C$5.57B | 68.5% | $73.48B |
| MET | $82.56B | +14.8% | $5.13B | 6.2% | $64.69B |
| PRU | $61.33B | +6.5% | $3.88B | 6.3% | $42.20B |
| SLF | C$41.90B | +8.0% | C$3.55B | 8.5% | $40.94B |
| PUK | $11.49B | +7.0% | $3.98B | 34.6% | $32.18B |
| RGA | $27.32B | +22.5% | $1.71B | 6.3% | $17.78B |
| CRBG | $20.81B | +13.6% | $2.20B | 10.6% | $15.84B |
| AEG | - | - | €977.00M | - | $15.59B |