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REINSURANCE GROUP OF AMERICA INC

RGA Clue Score39
United States Fiscal year ends December CIK 0000898174
$255.98 +0.02% Close, 9 Oct 2026
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Price $255.98 +116.84% Close, 9 Oct 2026

Closing prices at the end of each trading day, from 12 Oct 2016. Not a live quote. Adjusted for share splits, so the line has no step at a split; dividends are not added back. P/E and P/FCF are the market value over the last full fiscal year's net income or free cash flow, as public on each day, so they step once a year when the annual report comes out. A hatched band marks a stretch with none: a year of net loss, or of cash burnt.

Revenue and profit

What the business sells, and what is left of it. Point at a year for the detail.
RevenueNet income
Fiscal year 2016Revenue11.52Net income0.70EPS, diluted10.79Fiscal year 2017Revenue12.52 +8.6%Net income1.82 +159.8%EPS, diluted27.71 +156.8%Fiscal year 2018Revenue12.88 +2.9%Net income0.72 −60.7%EPS, diluted11.00 −60.3%Fiscal year 2019Revenue14.30 +11.1%Net income0.87 +21.5%EPS, diluted13.62 +23.8%Fiscal year 2020Revenue14.60 +2.1%Net income0.42 −52.3%EPS, diluted6.31 −53.7%Fiscal year 2021Revenue16.67 +14.2%Net income1.17 +181.9%EPS, diluted17.13 +171.5%Fiscal year 2022Revenue16.23 −2.6%Net income0.52 −55.8%EPS, diluted7.64 −55.4%Fiscal year 2023Revenue18.57 +14.4%Net income0.90 +74.5%EPS, diluted13.44 +75.9%Fiscal year 2024Revenue22.11 +19.1%Net income0.72 −20.5%EPS, diluted10.73 −20.2%Fiscal year 2025Revenue23.70 +7.2%Net income1.18 +64.9%EPS, diluted17.69 +64.9%
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue 11.52 12.52 12.88 14.30 14.60 16.67 16.23 18.57 22.11 23.70
Growth +8.6% +2.9% +11.1% +2.1% +14.2% −2.6% +14.4% +19.1% +7.2%
Net income 0.70 1.82 0.72 0.87 0.42 1.17 0.52 0.90 0.72 1.18
Growth +159.8% −60.7% +21.5% −52.3% +181.9% −55.8% +74.5% −20.5% +64.9%
EPS, diluted 10.79 27.71 11.00 13.62 6.31 17.13 7.64 13.44 10.73 17.69
Growth +156.8% −60.3% +23.8% −53.7% +171.5% −55.4% +75.9% −20.2% +64.9%

Margins

How much of each dollar of revenue it keeps. Point at a year for the detail.
Net margin
Fiscal year 2016Net margin6.1%Free cash flow margin12.3%Fiscal year 2017Net margin14.6%Free cash flow margin15.5%Fiscal year 2018Net margin5.6%Free cash flow margin12.1%Fiscal year 2019Net margin6.1%Free cash flow margin15.9%Fiscal year 2020Net margin2.8%Free cash flow margin22.6%Fiscal year 2021Net margin7.0%Free cash flow margin25.0%Fiscal year 2022Net margin3.2%Free cash flow margin8.1%Fiscal year 2023Net margin4.9%Fiscal year 2024Net margin3.2%Fiscal year 2025Net margin5.0%
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Net margin 6.1% 14.6% 5.6% 6.1% 2.8% 7.0% 3.2% 4.9% 3.2% 5.0%
Free cash flow margin 12.3% 15.5% 12.1% 15.9% 22.6% 25.0% 8.1% n/a n/a n/a

Cash flow

The cash the business makes, what it reinvests, and what it hands back. Point at a year for the detail.
Operating cash flowCapital expenditureFree cash flow
Fiscal year 2016Operating cash flow1.47Capital expenditure−0.04Free cash flow1.42Dividends paid−0.10Fiscal year 2017Operating cash flow1.98Capital expenditure−0.04Free cash flow1.94 +36.4%Dividends paid−0.12Fiscal year 2018Operating cash flow1.58Capital expenditure−0.03Free cash flow1.55 −19.9%Dividends paid−0.14Fiscal year 2019Operating cash flow2.31Capital expenditure−0.03Free cash flow2.27 +46.5%Dividends paid−0.16Fiscal year 2020Operating cash flow3.32Capital expenditure−0.03Free cash flow3.29 +44.9%Dividends paid−0.18Fiscal year 2021Operating cash flow4.18Capital expenditure−0.02Free cash flow4.16 +26.4%Dividends paid−0.19Fiscal year 2022Operating cash flow1.34Capital expenditure−0.03Free cash flow1.32 −68.3%Dividends paid−0.21Fiscal year 2023Operating cash flow4.04Dividends paid−0.22Fiscal year 2024Operating cash flow9.37Dividends paid−0.23Fiscal year 2025Operating cash flow4.09Dividends paid−0.24
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating cash flow 1.47 1.98 1.58 2.31 3.32 4.18 1.34 4.04 9.37 4.09
Capital expenditure −0.04 −0.04 −0.03 −0.03 −0.03 −0.02 −0.03 n/a n/a n/a
Free cash flow 1.42 1.94 1.55 2.27 3.29 4.16 1.32 n/a n/a n/a
Growth +36.4% −19.9% +46.5% +44.9% +26.4% −68.3%
Dividends paid −0.10 −0.12 −0.14 −0.16 −0.18 −0.19 −0.21 −0.22 −0.23 −0.24

Balance sheet

What it holds against what it owes, at each year end. Point at a year for the detail.
CashTotal debt
Fiscal year 2016Cash1.20Total debt3.09Net cash (debt)−1.89Shareholders’ equity7.09Debt to equity0.44Fiscal year 2017Cash1.30Total debt2.79Net cash (debt)−1.48Shareholders’ equity9.57Debt to equity0.29Fiscal year 2018Cash1.45Total debt2.79Net cash (debt)−1.34Shareholders’ equity8.45Debt to equity0.33Fiscal year 2019Cash3.41Total debt2.98Net cash (debt)0.43Shareholders’ equity11.60Debt to equity0.26Fiscal year 2020Cash2.95Total debt3.57Net cash (debt)−0.63Shareholders’ equity14.35Debt to equity0.25Fiscal year 2021Cash2.93Total debt3.67Net cash (debt)−0.74Shareholders’ equity8.18Debt to equity0.45Fiscal year 2022Cash2.93Total debt3.96Net cash (debt)−1.03Shareholders’ equity7.08Debt to equity0.56Fiscal year 2023Cash2.97Total debt4.43Net cash (debt)−1.46Shareholders’ equity9.08Debt to equity0.49Fiscal year 2024Cash3.33Total debt5.04Net cash (debt)−1.72Shareholders’ equity10.82Debt to equity0.47Fiscal year 2025Cash4.17Total debt5.71Net cash (debt)−1.54Shareholders’ equity13.46Debt to equity0.42
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Cash 1.20 1.30 1.45 3.41 2.95 2.93 2.93 2.97 3.33 4.17
Total debt 3.09 2.79 2.79 2.98 3.57 3.67 3.96 4.43 5.04 5.71
Net cash (debt) −1.89 −1.48 −1.34 0.43 −0.63 −0.74 −1.03 −1.46 −1.72 −1.54
Shareholders’ equity 7.09 9.57 8.45 11.60 14.35 8.18 7.08 9.08 10.82 13.46
Debt to equity 0.44 0.29 0.33 0.26 0.25 0.45 0.56 0.49 0.47 0.42

In billions of USD, except per-share figures and ratios. Fiscal years, as last filed with the SEC.

Financial statements FY2025 · 10-K

Balance sheet

In billions of USD, except per-share figures; shares in millions. Fiscal years ending December, each column as last filed with the SEC.
Click a line to chart it
Fiscal year FY2016 31 Dec 2016 FY2017 31 Dec 2017 FY2018 31 Dec 2018 FY2019 31 Dec 2019 FY2020 31 Dec 2020 FY2021 31 Dec 2021 FY2022 31 Dec 2022 FY2023 31 Dec 2023 FY2024 31 Dec 2024 FY2025 31 Dec 2025
Assets
1.20 1.30 1.45 3.41 2.95 2.93 2.93 2.97 3.33 4.17
0.01 0.01 0.01 0.01 0.01 0.01 0.01 n/a n/a n/a
53.10 60.51 64.54 76.73 84.66 92.94 84.90 97.62 118.68 156.59
Growth +14.0% +6.6% +18.9% +10.3% +9.8% −8.6% +15.0% +21.6% +31.9%
Liabilities
3.09 2.79 2.79 2.98 3.57 3.67 3.96 4.43 5.04 5.71
calc 3.09 2.79 2.79 2.98 3.57 3.67 3.96 4.43 5.04 5.71
46.00 50.95 56.09 65.13 70.30 79.16 77.73 88.45 107.77 143.04
Equity
5.20 6.74 7.29 7.95 8.15 8.56 8.17 8.81 9.26 10.15
7.09 9.57 8.45 11.60 14.35 8.18 7.08 9.08 10.82 13.46
Growth +34.9% −11.7% +37.3% +23.7% −43.0% −13.4% +28.2% +19.1% +24.5%
Per share and net cash
calc −1.89 −1.48 −1.34 0.43 −0.63 −0.74 −1.03 −1.46 −1.72 −1.54
64.3 64.5 62.8 62.7 68.0 67.2 66.9 65.8 66.0 65.6
calc 110.31 148.48 134.52 185.15 211.14 121.74 105.91 138.10 163.82 205.31

Lines marked calc are worked out here from filed figures; point at one for how.