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Reinsurance Group of America (RGA) Financial History

20 years of revenue, earnings, cash-flow and balance-sheet history from public filings.

FINANCIAL SERVICES · INSURANCE - REINSURANCE · DATA UPDATED 2026-07-25

Reinsurance Group of America (RGA) operates in the INSURANCE - REINSURANCE industry and is headquartered in Chesterfield, United States with about 4,300 employees. Its market capitalization is roughly $16 billion. In the fiscal year ended 2025-12-31, RGA reported $22.8B in revenue and $1.2B in net income.

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.

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RGA Revenue & Earnings History — Annual Income Statement

Income statement	TTM → 2026-03-31	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31	2009-12-31	2008-12-31	2007-12-31	2006-12-31
Total Revenue	$24.6B	$22.8B	$22.0B	$18.4B	$15.9B	$16.7B	$14.6B	$14.3B	$13M	$13M	$12M	$10M	$11M	$10M	$10M	$8.8B	$8M	$5.7B	$5.7B	$5.7B	$5.2B
Gross Profit	$5.0B	$5.8B	$2.5B	$2.3B	$1.6B	$15.7B	$13.8B	$13.4B	$12M	$12M	$11M	$10M	$10M	$10M	$9M	$8.4B	$8M	$5.4B	$5.4B	$5.5B	$5.0B
Gross Margin %	20.3%	25.4%	11.3%	12.7%	9.9%	94.4%	94.4%	93.9%	93.9%	94.3%	94.4%	94.7%	95.1%	95.5%	95.4%	95.2%	95.6%	95.7%	95.7%	95.9%	96.1%
Operating Income (EBIT)	$1.6B	$1.5B	$980M	$1.2B	$718M	$691M	$553M	$1.1B	$1M	$1M	$1M	$1M	$1M	$1M	$1M	$834M	$1M	$188M	$188M	$308M	$293M
Operating Margin %	6.6%	6.8%	4.5%	6.3%	4.5%	4.2%	3.8%	7.9%	6.6%	9.1%	9.1%	7.1%	9.2%	6.2%	6.4%	9.4%	7.0%	3.3%	3.3%	5.4%	5.7%
Net Income	$1.2B	$1.2B	$717M	$902M	$517M	$617M	$415M	$870M	$1M	$2M	$1M	$1M	$1M	$0M	$1M	$600M	$1M	$177M	$177M	$294M	$288M
Net Margin %	5.0%	5.2%	3.2%	4.9%	3.3%	3.7%	2.8%	6.1%	5.6%	14.6%	6.1%	4.8%	6.3%	4.1%	6.4%	6.8%	7.0%	3.1%	3.1%	5.1%	5.5%
EBITDA	$2.0B	$1.9B	$1.3B	$1.5B	$947M	$734M	$602M	$1.2B	$46M	$54M	$28M	$1M	$1M	$1M	$1.0B	$834M	$955M	$662M	$346M	$233M	$240M
Earnings Per Share (EPS)	$18.37	$17.71	$10.72	$13.44	$7.64	$9.03	$6.31	$13.62	$0.01	$0.03	$0.01	$0.01	$0.01	$0.01	$0.01	$8.09	$0.01	$2.41	$2.71	$4.57	$4.57
Shares Outstanding (M)	67M	67M	67M	67M	68M	68M	66M	64M	65M	66M	65M	67M	70M	72M	74M	74M	75M	73M	65M	64M	63M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

RGA Quarterly Revenue & Earnings — Last 8 Quarters

Quarterly income statement	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30	2024-06-30
Total Revenue	$6.5B	$6.3B	$6.2B	$5.6B	$5.3B	$5.2B	$5.6B	$4.9B
Gross Profit	$1.9B	$1.7B	$771M	$713M	$778M	$651M	$549M	$638M
Gross Margin %	28.6%	26.3%	12.4%	12.8%	14.7%	12.5%	9.8%	13.1%
Operating Income (EBIT)	$441M	$510M	$320M	$341M	$369M	$225M	$214M	$269M
Operating Margin %	6.8%	8.1%	5.1%	6.1%	7.0%	4.3%	3.8%	5.5%
Net Income	$330M	$463M	$253M	$180M	$286M	$148M	$156M	$203M
Net Margin %	5.1%	7.3%	4.1%	3.2%	5.4%	2.9%	2.8%	4.2%
EBITDA	$541M	$608M	$418M	$431M	$449M	$311M	$292M	$341M
Earnings Per Share (EPS)	$4.95	$6.94	$3.79	$2.70	$4.28	$2.21	$2.34	$3.04
Shares Outstanding (M)	67M	67M	67M	67M	67M	67M	67M	67M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

RGA Free Cash Flow History

Cash flow	TTM → 2026-03-31	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31	2009-12-31	2008-12-31	2007-12-31	2006-12-31
Cash from Operations (CFO)	$5.5B	$4.1B	$9.4B	$4.0B	$1.3B	$4.2B	$3.3B	$2.3B	$1.6B	$2.0B	$1.5B	$2.1B	$2.3B	$1.7B	$2.0B	$1.3B	$1.8B	$1.4B	$727M	$957M	$846M
Capital Expenditures (CapEx)	$0M	$0M	$0M	$77M	$25M	$19M	$28M	$34M	$29M	$44M	$45M	$24M	$88M	$0M	$0M	$0M	$0M	$0M	$0M	$0M	$0M
Free Cash Flow (FCF)	$5.5B	$4.1B	$9.4B	$4.0B	$1.3B	$4.2B	$3.3B	$2.3B	$1.6B	$1.9B	$1.4B	$2.1B	$2.2B	$1.7B	$2.0B	$1.3B	$1.8B	$1.4B	$727M	$957M	$846M
FCF Margin %	22.5%	17.9%	42.5%	21.6%	8.3%	25.0%	22.6%	15.9%	12055.2%	15485.2%	12334.1%	19821.7%	20614.0%	16736.8%	20064.5%	14.8%	22304.6%	24.0%	12.8%	16.7%	16.3%
Dividends Paid	$242M	$240M	$229M	$219M	$205M	$194M	$182M	$163M	$140M	$117M	$100M	$93M	$87M	$78M	$62M	$44M	$35M	$26M	$23M	$22M	$22M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

RGA Quarterly Free Cash Flow — Last 8 Quarters

Quarterly cash flow	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30	2024-06-30
Cash from Operations (CFO)	$2.9B	$852M	$990M	$820M	$1.4B	$1.6B	$1.1B	$967M
Free Cash Flow (FCF)	$2.9B	$852M	$990M	$820M	$1.4B	$1.6B	$1.1B	$967M
FCF Margin %	44.4%	13.5%	15.9%	14.8%	27.0%	30.8%	19.0%	19.8%
Dividends Paid	$61M	$61M	$61M	$59M	$59M	$58M	$59M	$56M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

RGA Balance Sheet History

Balance sheet	2026-03-31	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31	2009-12-31	2008-12-31	2007-12-31	2006-12-31
Total Assets	$164.1B	$156.6B	$118.7B	$97.6B	$84.9B	$92.2B	$84.7B	$76.7B	$64.6B	$60.5B	$53.1B	$50.4B	$44.7B	$39.7B	$40.4B	$31.6B	$29.6B	$25.3B	$21.8B	$21.4B	$19.3B
Cash & Cash Equivalents	$5.0B	$4.2B	$3.3B	$3.0B	$2.9B	$2.9B	$3.4B	$1.4B	$1.9B	$1.3B	$1.2B	$1.5B	$1.6B	$924M	$1.3B	$963M	$464M	$512M	$875M	$404M	$160M
Total Liabilities	$150.7B	$143.0B	$107.8B	$88.5B	$77.7B	$6.7B	$70.3B	$65.1B	$56.2B	$50.9B	$46.0B	$44.2B	$37.7B	$33.7B	$33.5B	$25.8B	$24.5B	$21.5B	$19.2B	$18.2B	$16.5B
Total Debt (Short + Long-Term)	$6.1B	$5.7B	$5.0B	$4.4B	$4.4B	$4.2B	$4.4B	$4.0B	$3.5B	$3.6B	$3.9B	$3.2B	$3.1B	$2.7B	$3.6B	$3.2B	$2.2B	$2.2B	$1.9B	$1.9B	$1.7B
Total Shareholders' Equity	$13.3B	$13.5B	$10.8B	$9.1B	$7.1B	$85.4B	$14.4B	$11.6B	$8.5B	$9.6B	$7.1B	$6.1B	$7.0B	$5.9B	$6.9B	$5.8B	$5.0B	$3.9B	$2.6B	$3.2B	$2.8B

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

Quarterly statements, profitability ratios, price history, insider activity and institutional holders are in the interactive RGA viewer.

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