Friday 6 November 2026 Export RGA’s income statement to Excel — free account

Reinsurance Group of America, Incorporated

Reinsurance Group of America, Incorporated’s revenue for fiscal 2025 (year ended December 2025) was $23.7 billion, up 7.20% from fiscal 2024.

Revenue: +18.5%
EPS: +159.9%
Free cash flow: +41.0%
Total debt: −0.44%

Quarter to June 2026, against a year earlier

261.75 4.90 −1.84%

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Market cap: $17.1B
P/E: 11.4×
Fwd P/E: 10.4×
Dividend yield: 1.44%
F-score: 6/9
Altman Z: n/a
Beneish M: n/a
Dividend safety: n/a

Overview Business Profile Earnings & Analysis Segments Valuation Filings

Reinsurance Group of America, Incorporated (RGA) revenue by segment, product and region

Where the money comes from and where it goes

Fiscal 2023: revenue by regions, and margins
Americas	10,447	56.27%
Asia Pacific	3,700	19.93%
Emea	2,505	13.49%
California	1,580	8.51%
Other, not broken out	335	1.80%
Gross margin		13.11%
Operating margin		7.30%
Pre-tax margin		6.25%

Revenue by segment $m

Line	FY2015	FY2014	FY2013
US Traditional Segment Reporting Information	5,465 52.46%	5,283 48.45%	5,116 49.58%
Asia Pacific Traditional Segment Reporting Information	1,638 15.73%	1,686 15.47%	1,525 14.78%
EMEA Traditional Segment Reporting Information	1,191 11.43%	1,235 11.33%	1,130 10.95%
Canada Traditional Segment Reporting Information	1,023 9.82%	1,154 10.58%	1,159 11.23%
US Non-Traditional Segment Reporting Information	644 6.18%	1,014 9.30%	963 9.33%
EMEA Non-Traditional Segment Reporting Information	287 2.75%	323 2.96%	175 1.70%
Corporate and Other	69 0.66%	110 1.01%	139 1.35%
Asia Pacific Non-Traditional Segment Reporting Information	57 0.54%	70 0.64%	86 0.83%
Canada Non-Traditional Segment Reporting Information	45 0.43%	28 0.26%	26 0.25%
Revenue	10,418	10,904	10,318

Revenue by region $m

Line	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017	FY2016	FY2015	FY2014	FY2013
Americas	10,447 56.27%	8,611 53.07%	8,641 51.84%	7,780 53.30%	7,779 54.40%	7,203 55.94%	7,251 57.93%	6,805 59.07%	6,109 58.64%	6,297 57.75%	6,079 58.91%
Asia Pacific	3,700 19.93%	3,357 20.69%	3,245 19.47%	3,115 21.34%	2,909 20.34%	2,471 19.19%	2,284 18.25%	1,835 15.92%	1,695 16.27%	1,757 16.11%	1,611 15.61%
Emea	2,505 13.49%	2,444 15.06%	2,429 14.57%	2,104 14.41%	1,970 13.78%	1,845 14.33%	1,673 13.37%	1,536 13.33%	1,477 14.18%	1,558 14.29%	1,305 12.65%
California	1,580 8.51%	1,585 9.77%	1,563 9.38%	1,352 9.26%	1,385 9.69%	1,273 9.89%	1,152 9.20%	1,165 10.11%	1,068 10.25%	1,182 10.84%	1,185 11.48%
Other, not broken out	335 1.80%	230 1.42%	789 4.73%	245 1.68%	257 1.80%	84 0.65%	156 1.25%	181 1.57%	69 0.66%	110 1.01%	139 1.35%
Revenue	18,567	16,227	16,667	14,596	14,300	12,876	12,516	11,522	10,418	10,904	10,318

Operating figures as reported in each quarter’s results release or filing

Figure	Quarter	Latest	A year before	Change
Average investment yield	Q3 FY2026	5.26%	4.73%	—
Estimated deployable capital	Q4 FY2025	$3.4B	—	—

	Q3 FY2026	Q2 FY2026	Q1 FY2026	Q4 FY2025	Q3 FY2025	Q2 FY2025	Q1 FY2025	Q4 FY2024	Q3 FY2024	Q2 FY2024	Q1 FY2024	Q4 FY2023	Q3 FY2023
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As each company reports them in its 10-K and 10-Q filings, in US dollars. Where a later filing recast a year's segments, the year is shown as recast; a period whose breakdown does not add up to the company's revenue is left out.