Reinsurance Group of America, Incorporated (RGA) vs SiriusPoint Ltd. (SPNT)

Reinsurance Group of America, Incorporated and SiriusPoint Ltd. are both Insurance Reinsurance companies. Reinsurance Group of America, Incorporated is the larger, with a market value of $16.0B against $3.0B — 5.3× the size. SiriusPoint Ltd. trades at the lower P/E: 6.0× against 10.8×. SiriusPoint Ltd. grew revenue faster over the last twelve months: 22.6% against 19.4%. SiriusPoint Ltd. has the higher net margin (15.2% vs 5.81%) and the higher return on invested capital (30.6% vs 9.94%). Across the 22 metrics below, SiriusPoint Ltd. leads on 16 and Reinsurance Group of America, Incorporated on 6.

Valuation

Metric RGA SPNT Insurance Reinsurance median
P/E 10.80 6.00 7.83
P/S 0.62 0.91 0.90
P/B 1.17 1.30 1.17
Price to free cash flow 3.13 11.14 4.05
EV/EBITDA 7.46 2.55 3.25
EV/Sales 0.65 0.89 0.95
Earnings yield 9.26% 16.67% 11.46%
Free cash flow yield 31.90% 8.98% 19.30%

Profitability

Metric RGA SPNT Insurance Reinsurance median
Gross margin 13.99% 35.85% 40.53%
Operating margin 8.70% 35.54% 14.54%
Net margin 5.81% 15.23% 9.44%
Free cash flow margin 20.02% 8.19% 18.88%
Return on equity 11.63% 23.65% 12.10%
Return on assets 1.00% 3.96% 2.72%
Return on invested capital 9.94% 30.55% 15.70%

Growth

Metric RGA SPNT Insurance Reinsurance median
Revenue growth (TTM) 19.40% 22.55% 17.45%
EPS growth (last fiscal year) 64.86% 250.00% —
Revenue growth, 5-year CAGR 10.18% 29.22% 14.51%
Net income growth, 5-year CAGR 23.29% 25.50% 25.23%

Health

Metric RGA SPNT Insurance Reinsurance median
Debt to equity 0.41 0.30 0.21
Current ratio 0.14 0.58 0.59
Net debt to EBITDA 0.92 (0.20) (0.03)

Dividend

Metric RGA SPNT Insurance Reinsurance median
Dividend yield 2.10% — —
Payout ratio 0.28 0.00 0.00

Size

Metric RGA SPNT Insurance Reinsurance median
Market cap 16.03b 3.00b 3.15b

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