Reinsurance Group of America (RGA) Financials

$203.43 -0.59 (-0.29%)

Closing price 03:59 PM Eastern

Extended Trading

$203.30 -0.13 (-0.06%)

As of 04:21 PM Eastern

Annual Income Statements for Reinsurance Group of America

This table shows Reinsurance Group of America's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Period end date	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
Net Income / (Loss) Attributable to Common Shareholders	717	902	517	1,170	415	870	716	1,822	701	502
Consolidated Net Income / (Loss)	724	909	521	1,170	415	870	716	1,822	701	502
Net Income / (Loss) Continuing Operations	724	909	521	1,170	415	870	716	1,822	701	502
Total Pre-Tax Income	980	1,160	718	1,385	553	1,132	846	1,143	1,044	745
Total Revenue	21,803	18,310	16,036	16,528	14,426	14,127	12,729	12,370	11,384	10,275
Net Interest Income / (Expense)	-304	-257	-191	-139	-170	-173	-147	-146	-138	-143
Total Interest Income	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Interest Expense	304	257	191	139	170	173	147	146	138	143
Long-Term Debt Interest Expense	304	257	191	139	170	173	147	146	138	143
Total Non-Interest Income	22,107	18,567	16,227	16,667	14,596	14,300	12,876	12,516	11,522	10,418
Other Service Charges	593	372	527	449	360	392	363	352	267	278
Net Realized & Unrealized Capital Gains on Investments	3,671	3,110	2,622	3,705	2,542	2,611	1,997	2,366	2,045	1,570
Premiums Earned	17,843	15,085	13,078	12,513	11,694	11,297	10,544	9,841	9,249	8,571
Total Non-Interest Expense	20,855	17,212	15,027	14,576	13,873	12,995	11,883	11,227	10,340	9,531
Property & Liability Insurance Claims	17,990	14,736	12,664	12,373	11,779	10,894	9,744	9,021	8,358	7,826
Amortization of Deferred Policy Acquisition Costs	1,641	1,397	-	1,325	1,261	1,204	1,323	1,467	1,311	1,127
Other Operating Expenses	1,268	1,089	1,009	936	816	868	786	710	646	554
Other Special Charges	-44	-10	10	-58	17	29	30	29	26	23
Nonoperating Income / (Expense), net	32	62	-291	-567	-	-	-	-	-	-
Income Tax Expense	256	251	197	215	138	262	130	-679	343	243
Net Income / (Loss) Attributable to Noncontrolling Interest	7.00	7.00	4.00	0.00	0.00	-	-	-	-	-
Basic Earnings per Share	$10.90	$13.60	$7.73	$17.26	-	-	-	-	-	-
Weighted Average Basic Shares Outstanding	66.02M	65.76M	66.86M	67.19M	67.97M	62.58M	63.66M	64.43M	64.27M	66.55M
Diluted Earnings per Share	$10.73	$13.44	$7.64	$17.13	-	-	-	-	-	-
Weighted Average Diluted Shares Outstanding	66.02M	65.76M	66.86M	67.19M	67.97M	62.58M	63.66M	64.43M	64.27M	66.55M
Weighted Average Basic & Diluted Shares Outstanding	66.02M	65.76M	66.86M	67.19M	67.97M	62.58M	63.66M	64.43M	64.27M	66.55M
Cash Dividends to Common per Share	$3.48	$3.30	$3.06	$2.86	$2.80	$2.60	$2,200.00	$1.82	$1,560.00	$1.40

This table shows Reinsurance Group of America's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Net Income / (Loss) Attributable to Common Shareholders	286	148	156	203	210	158	287	205	252	291	-76
Consolidated Net Income / (Loss)	288	150	158	204	212	160	289	207	253	293	-75
Net Income / (Loss) Continuing Operations	288	150	158	204	212	160	289	207	253	293	-75
Total Pre-Tax Income	369	225	214	269	272	164	380	265	351	381	-77
Total Revenue	5,180	5,155	5,573	4,806	6,269	4,938	5,081	4,093	4,198	4,301	4,001
Net Interest Income / (Expense)	-80	-86	-78	-72	-68	-69	-72	-63	-53	-56	-49
Total Interest Income	0.00	-	0.00	0.00	0.00	-	0.00	0.00	0.00	-	0.00
Total Interest Expense	80	86	78	72	68	69	72	63	53	56	49
Long-Term Debt Interest Expense	80	86	78	72	68	69	72	63	53	56	49
Total Non-Interest Income	5,260	5,241	5,651	4,878	6,337	5,007	5,153	4,156	4,251	4,357	4,050
Other Service Charges	88	147	150	147	149	98	102	85	87	89	188
Net Realized & Unrealized Capital Gains on Investments	1,153	938	1,110	811	812	801	796	734	779	822	615
Premiums Earned	4,019	4,156	4,391	3,920	5,376	4,108	4,255	3,337	3,385	3,446	3,247
Total Non-Interest Expense	4,867	4,999	5,208	4,627	6,021	4,741	4,783	3,815	3,873	3,873	3,852
Property & Liability Insurance Claims	4,121	4,235	4,426	3,943	5,386	4,054	4,182	3,222	3,278	3,281	3,237
Amortization of Deferred Policy Acquisition Costs	417	411	452	391	387	369	348	349	331	-	341
Other Operating Expenses	300	385	299	301	283	290	274	275	250	289	251
Other Special Charges	29	-32	31	-8.00	-35	28	-21	-31	14	-20	23
Nonoperating Income / (Expense), net	56	69	-151	90	24	-33	82	-13	26	-	-226
Income Tax Expense	81	75	56	65	60	4.00	91	58	98	88	-2.00
Net Income / (Loss) Attributable to Noncontrolling Interest	2.00	2.00	2.00	1.00	2.00	2.00	2.00	2.00	1.00	2.00	1.00
Basic Earnings per Share	$4.33	$2.26	$2.37	$3.07	$3.20	$2.40	$4.34	$3.09	$3.77	$4.36	($1.13)
Weighted Average Basic Shares Outstanding	66.09M	66.02M	65.86M	65.86M	65.79M	65.76M	65.91M	66.21M	66.54M	66.86M	66.84M
Diluted Earnings per Share	$4.27	$2.21	$2.33	$3.03	$3.16	$2.38	$4.29	$3.05	$3.72	$4.31	($1.13)
Weighted Average Diluted Shares Outstanding	66.09M	66.02M	65.86M	65.86M	65.79M	65.76M	65.91M	66.21M	66.54M	66.86M	66.84M
Weighted Average Basic & Diluted Shares Outstanding	66.09M	66.02M	65.86M	65.86M	65.79M	65.76M	65.91M	66.21M	66.54M	66.86M	66.84M
Cash Dividends to Common per Share	$0.89	-	$0.89	$0.85	$0.85	-	$0.85	$0.80	$0.80	-	$0.80

This table details how cash moves in and out of Reinsurance Group of America's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Period end date	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
Net Change in Cash & Equivalents	356	43	-21	-460	1,959	-441	586	103	-325	-120
Net Cash From Operating Activities	9,370	4,044	1,343	4,182	3,322	2,307	1,581	1,982	1,466	2,089
Net Cash From Continuing Operating Activities	8,820	3,103	1,210	3,012	3,322	2,307	1,581	1,982	1,466	2,089
Net Income / (Loss) Continuing Operations	0.00	0.00	0.00	0.00	415	870	716	1,822	701	502
Depreciation Expense	46	41	38	43	49	49	45	53	27	31
Amortization Expense	-214	-127	-71	-54	-46	-55	-57	-105	-94	-77
Non-Cash Adjustments to Reconcile Net Income	572	557	154	-1,047	-81	63	175	-991	317	261
Changes in Operating Assets and Liabilities, net	8,416	2,632	1,089	4,070	2,985	1,380	702	1,203	514	1,371
Net Cash From Investing Activities	-12,545	-4,066	-5,688	-4,628	-2,680	-2,638	-637	-1,608	-2,826	-1,432
Net Cash From Continuing Investing Activities	-12,545	-1,809	-5,652	-4,628	-2,680	-2,638	-637	-1,608	-2,826	-1,432
Purchase of Investment Securities	-44,211	-15,031	-19,111	-19,684	-10,898	-17,492	-11,153	-10,108	-9,190	-7,395
Divestitures	0.00	0.00	14	19	0.00	0.00	-	-	-	-
Sale and/or Maturity of Investments	31,392	12,619	13,585	15,104	8,377	14,990	10,644	8,612	6,489	6,480
Other Investing Activities, net	274	603	-	-67	-131	-102	-99	-68	-80	-492
Net Cash From Financing Activities	3,661	78	4,436	20	1,254	-121	-322	-324	1,055	-708
Net Cash From Continuing Financing Activities	3,661	-525	4,609	20	1,254	-121	-322	-324	1,055	-708
Net Change in Deposits	268	227	-44	91	0.00	0.00	-	-	-	-
Issuance of Debt	640	890	690	494	598	599	0.00	0.00	800	164
Repayment of Debt	-4,759	-4,056	-1,546	-2,032	-1,025	-1,608	-793	-1,123	-605	-738
Repurchase of Common Equity	-27	-227	-81	-99	-163	-101	-300	-109	-123	-385
Payment of Dividends	-229	-219	-205	-194	-182	-163	-140	-117	-100	-93
Other Financing Activities, Net	7,768	2,860	5,795	1,760	1,545	1,152	911	1,025	1,057	291
Effect of Exchange Rate Changes	-130	-13	-112	-34	63	11	-36	53	-20	-69
Cash Interest Paid	213	217	163	160	166	180	170	173	157	148
Cash Income Taxes Paid	78	298	129	368	108	44	142	37	61	42

This table details how cash moves in and out of Reinsurance Group of America's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Net Change in Cash & Equivalents	396	5,901	-468	-2,306	-2,771	2,968	-778	-940	-1,207	492	121
Net Cash From Operating Activities	-1,429	17,140	-1,067	-967	-5,736	6,862	-1,000	-244	-1,574	2,420	-835
Net Cash From Continuing Operating Activities	0.00	8,820	-	-	0.00	3,103	-	-	0.00	1,210	-
Net Income / (Loss) Continuing Operations	0.00	-	-	-	0.00	-	-	-	0.00	-	-
Net Cash From Investing Activities	-1,695	-4,162	-1,207	-3,456	-3,720	-1,474	-104	-783	-1,705	-893	-1,584
Net Cash From Continuing Investing Activities	-1,695	-4,162	-1,207	-3,456	-3,720	783	-104	-783	-1,705	-857	-1,584
Purchase of Investment Securities	-9,772	-11,656	-8,964	-13,548	-10,043	-4,559	-3,234	-2,985	-4,253	-4,194	-4,197
Sale and/or Maturity of Investments	7,957	7,477	7,675	10,014	6,226	5,022	3,042	2,088	2,467	3,443	2,624
Other Investing Activities, net	120	17	82	78	97	320	88	114	81	-	-4.00
Net Cash From Financing Activities	2,067	797	639	1,220	1,005	349	-639	-129	497	-25	1,776
Net Cash From Continuing Financing Activities	2,067	797	639	1,220	1,005	-254	-639	-129	497	148	1,776
Net Change in Deposits	50	47	70	62	89	186	17	13	11	-12	-
Issuance of Debt	691	-	-	640	0.00	-	-	396	494	-10	700
Repayment of Debt	-1,128	-864	-1,307	-1,175	-1,413	-1,002	-1,309	-864	-881	-126	-606
Repurchase of Common Equity	-38	-1.00	-7.00	-3.00	-16	-58	-50	-52	-67	-27	-27
Payment of Dividends	-59	-58	-59	-56	-56	-56	-56	-54	-53	-53	-54
Other Financing Activities, Net	2,551	1,673	1,942	1,752	2,401	676	759	432	993	376	1,763
Effect of Exchange Rate Changes	24	-104	100	-70	-56	49	-35	-28	1.00	67	-71
Cash Interest Paid	61	54	56	54	49	71	49	54	43	57	34
Cash Income Taxes Paid	63	28	9.00	25	16	58	79	132	29	21	-11

This table presents Reinsurance Group of America's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Period end date	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
Total Assets	118,675	97,623	84,904	92,175	84,656	76,731	64,535	60,515	53,098	50,383
Cash and Due from Banks	3,326	2,970	2,927	2,948	3,408	1,449	1,890	1,304	1,201	1,525
Trading Account Securities	77,772	60,606	53,035	60,900	56,867	51,441	40,074	38,251	32,094	29,643
Loans and Leases, Net of Allowance	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Accrued Investment Income	986	759	630	533	511	493	428	393	347	339
Mortgage Servicing Rights	8,839	7,377	6,590	6,283	5,787	5,706	4,966	4,401	3,776	3,130
Unearned Premiums Asset	3,898	3,528	3,013	2,888	2,842	2,940	3,018	2,338	1,931	1,798
Deferred Acquisition Cost	5,543	4,617	4,128	3,690	3,616	3,512	3,398	3,240	3,339	3,392
Other Assets	18,311	17,766	14,581	14,933	11,625	11,190	10,761	10,589	10,411	10,556
Total Liabilities & Shareholders' Equity	118,675	97,623	84,904	92,175	84,656	76,731	64,535	60,515	53,098	50,383
Total Liabilities	107,769	88,452	77,733	79,161	70,304	65,130	56,085	50,945	46,005	44,248
Long-Term Debt	5,042	4,427	3,961	3,847	3,961	3,579	3,470	3,572	3,929	3,197
Claims and Claim Expense	2,693	2,730	2,480	6,993	6,413	5,711	5,643	4,992	4,263	4,095
Future Policy Benefits	53,368	41,231	35,689	35,782	31,453	28,672	25,285	22,363	19,582	19,612
Other Long-Term Liabilities	46,666	40,064	35,603	32,539	28,477	27,168	21,687	20,018	18,231	17,344
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	10,906	9,171	7,171	13,014	14,352	11,601	8,450	9,570	7,093	6,135
Total Preferred & Common Equity	10,816	9,081	7,081	13,014	14,352	11,601	8,450	9,570	7,093	6,135
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	10,816	9,081	7,081	13,014	14,352	11,601	8,450	9,570	7,093	6,135
Common Stock	2,601	2,545	2,503	2,462	2,407	1,938	1,900	1,872	1,849	1,817
Retained Earnings	9,255	8,805	8,169	8,563	8,148	7,952	7,285	6,736	5,199	4,620
Treasury Stock	-1,889	-1,900	-1,720	-1,653	-1,562	-1,426	-1,371	-1,102	-1,095	-1,010
Accumulated Other Comprehensive Income / (Loss)	849	-369	-1,871	3,642	5,359	3,137	636	2,064	1,139	708
Noncontrolling Interest	90	90	90	0.00	-	-	-	-	-	-

This table presents Reinsurance Group of America's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q1 2025	Q3 2024	Q2 2024	Q1 2024	Q3 2023	Q2 2023	Q1 2023	Q3 2022
Period end date	3/31/2025	9/30/2024	6/30/2024	3/31/2024	9/30/2023	6/30/2023	3/31/2023	9/30/2022
Total Assets	128,210	120,258	109,888	106,000	87,422	89,040	89,120	82,705
Cash and Due from Banks	5,151	5,195	4,596	5,935	2,820	2,598	3,294	3,512
Trading Account Securities	84,660	78,304	70,635	65,971	54,304	56,372	56,223	50,632
Loans and Leases, Net of Allowance	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Accrued Investment Income	1,059	995	881	808	744	702	672	628
Mortgage Servicing Rights	9,331	8,388	7,984	7,539	7,231	7,038	6,833	6,558
Unearned Premiums Asset	3,749	3,738	3,635	3,342	3,279	3,321	3,114	2,820
Deferred Acquisition Cost	5,649	5,477	4,720	4,673	4,289	4,286	4,257	3,887
Other Assets	18,611	18,161	17,437	17,732	12,195	12,250	12,322	14,668
Total Liabilities & Shareholders' Equity	128,210	120,258	109,888	106,000	87,422	89,040	89,120	82,705
Total Liabilities	116,718	109,041	100,063	96,442	79,269	81,145	81,404	78,962
Long-Term Debt	5,734	5,067	5,067	4,427	4,450	4,850	4,455	4,207
Claims and Claim Expense	2,870	2,875	2,769	2,753	2,654	2,579	2,558	6,249
Future Policy Benefits	59,836	55,933	50,779	47,067	36,474	38,239	38,222	33,715
Other Long-Term Liabilities	48,278	45,166	41,448	42,195	35,467	35,242	35,908	34,791
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	11,492	11,217	9,825	9,558	8,153	7,895	7,716	3,743
Total Preferred & Common Equity	11,402	11,127	9,735	9,468	8,063	7,805	7,626	3,653
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	11,402	11,127	9,735	9,468	8,063	7,805	7,626	3,653
Common Stock	2,609	2,578	2,568	2,550	2,535	2,523	2,507	2,494
Retained Earnings	9,443	9,166	9,076	8,934	8,713	8,483	8,336	8,820
Treasury Stock	-1,888	-1,889	-1,889	-1,891	-1,852	-1,803	-1,756	-1,697
Accumulated Other Comprehensive Income / (Loss)	1,238	1,272	-20	-125	-1,333	-1,398	-1,461	-5,964
Noncontrolling Interest	90	90	90	90	90	90	90	90

This table displays calculated financial ratios and metrics derived from Reinsurance Group of America's official financial filings.

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Period end date	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
Growth Metrics	-	-	-	-	-	-	-	-	-	-
Revenue Growth	19.08%	14.18%	-2.98%	14.57%	2.12%	10.98%	2.90%	8.66%	10.79%	-4.92%
EBITDA Growth	-22.92%	3.69%	-49.72%	249.10%	-50.62%	35.01%	-23.56%	11.69%	39.83%	-24.18%
EBIT Growth	-13.66%	8.82%	-48.31%	252.98%	-51.15%	33.81%	-25.98%	9.49%	40.17%	-26.15%
NOPAT Growth	-18.60%	17.52%	-55.60%	297.35%	-52.30%	21.51%	-60.70%	159.75%	39.68%	-26.59%
Net Income Growth	-20.35%	74.47%	-55.47%	181.93%	-52.30%	21.51%	-60.70%	159.75%	39.68%	-26.59%
EPS Growth	-20.16%	75.92%	-55.40%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Cash Flow Growth	131.70%	201.12%	-67.89%	25.89%	44.00%	45.92%	-20.23%	35.22%	-29.82%	-10.60%
Free Cash Flow Firm Growth	-2.74%	-124.85%	108.36%	214.09%	-13.72%	-223.33%	751.55%	69.92%	-178.16%	262.95%
Invested Capital Growth	17.28%	22.15%	-33.98%	-7.93%	20.64%	27.35%	-9.30%	19.23%	18.11%	-7.56%
Revenue Q/Q Growth	1.01%	3.60%	-0.35%	0.97%	3.28%	3.68%	0.35%	1.37%	2.11%	0.84%
EBITDA Q/Q Growth	-21.13%	-23.85%	-48.60%	-53.82%	120.53%	17.03%	-13.34%	1.17%	10.55%	-4.41%
EBIT Q/Q Growth	-4.15%	-17.38%	-46.87%	-53.56%	120.42%	17.66%	-12.20%	-3.37%	9.30%	-8.59%
NOPAT Q/Q Growth	-11.34%	-17.43%	-21.86%	150.22%	-8.19%	16.75%	-60.71%	129.06%	4.01%	-5.27%
Net Income Q/Q Growth	-1.36%	-12.76%	-44.40%	97.30%	-19.88%	16.75%	-60.71%	129.06%	4.01%	-5.27%
EPS Q/Q Growth	-1.56%	-12.56%	-44.36%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Cash Flow Q/Q Growth	1,131.94%	1,116.08%	287.57%	-4.17%	0.00%	2.77%	-20.06%	27.84%	-34.27%	5.68%
Free Cash Flow Firm Q/Q Growth	42.94%	55.54%	-30.96%	109.24%	-121.41%	11.22%	35.81%	-128.53%	44.65%	135.01%
Invested Capital Q/Q Growth	-2.06%	7.89%	40.03%	2.99%	6.50%	-2.16%	-1.31%	12.49%	-7.60%	-1.44%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
EBITDA Margin	3.58%	5.53%	6.09%	11.74%	3.85%	7.97%	6.55%	8.82%	8.58%	6.80%
EBIT Margin	4.35%	6.00%	6.29%	11.81%	3.83%	8.01%	6.65%	9.24%	9.17%	7.25%
Profit (Net Income) Margin	3.32%	4.96%	3.25%	7.08%	2.88%	6.16%	5.63%	14.73%	6.16%	4.89%
Tax Burden Percent	73.88%	78.36%	72.56%	84.48%	75.05%	76.86%	84.63%	159.41%	67.19%	67.42%
Interest Burden Percent	103.38%	105.65%	71.16%	70.95%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%
Effective Tax Rate	26.12%	21.64%	27.44%	15.52%	24.95%	23.14%	15.37%	-59.41%	32.81%	32.58%
Return on Invested Capital (ROIC)	4.74%	6.96%	5.23%	9.38%	2.48%	6.42%	5.71%	15.08%	6.89%	5.17%
ROIC Less NNEP Spread (ROIC-NNEP)	5.24%	8.12%	-0.18%	-2.89%	2.48%	6.42%	5.71%	15.08%	6.89%	5.17%
Return on Net Nonoperating Assets (RNNOA)	2.47%	4.17%	-0.07%	-0.83%	0.72%	2.26%	2.23%	6.79%	3.71%	2.46%
Return on Equity (ROE)	7.21%	11.12%	5.16%	8.55%	3.20%	8.68%	7.95%	21.87%	10.61%	7.63%
Cash Return on Invested Capital (CROIC)	-11.17%	-12.98%	46.16%	17.63%	-16.23%	-17.64%	15.46%	-2.46%	-9.72%	13.03%
Operating Return on Assets (OROA)	0.88%	1.20%	1.14%	2.21%	0.69%	1.60%	1.35%	2.01%	2.02%	1.57%
Return on Assets (ROA)	0.67%	1.00%	0.59%	1.32%	0.51%	1.23%	1.15%	3.21%	1.36%	1.06%
Return on Common Equity (ROCE)	7.15%	11.00%	5.14%	8.55%	3.20%	8.68%	7.95%	21.87%	10.61%	7.63%
Return on Equity Simple (ROE_SIMPLE)	6.69%	10.01%	7.36%	8.99%	2.89%	7.50%	8.47%	19.04%	9.89%	8.18%
Net Operating Profit after Tax (NOPAT)	700	860	732	1,649	415	870	716	1,822	701	502
NOPAT Margin	3.21%	4.70%	4.57%	9.98%	2.88%	6.16%	5.63%	14.73%	6.16%	4.89%
Net Nonoperating Expense Percent (NNEP)	-0.50%	-1.16%	5.41%	12.27%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SG&A Expenses to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	95.65%	94.00%	93.71%	88.19%	96.17%	91.99%	93.35%	90.76%	90.83%	92.75%
Earnings before Interest and Taxes (EBIT)	948	1,098	1,009	1,952	553	1,132	846	1,143	1,044	745
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	780	1,012	976	1,941	556	1,126	834	1,091	977	699
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	1.30	1.15	1.28	0.54	0.50	0.79	0.92	0.91	0.97	0.77
Price to Tangible Book Value (P/TBV)	1.30	1.15	1.28	0.54	0.50	0.79	0.92	0.91	0.97	0.77
Price to Revenue (P/Rev)	0.64	0.57	0.57	0.42	0.50	0.65	0.61	0.70	0.61	0.46
Price to Earnings (P/E)	19.54	11.56	17.58	5.96	17.43	10.50	10.82	4.78	9.85	9.42
Dividend Yield	1.64%	2.09%	2.25%	2.77%	2.63%	1.78%	1.78%	1.35%	1.45%	1.95%
Earnings Yield	5.12%	8.65%	5.69%	16.79%	5.74%	9.52%	9.25%	20.94%	10.15%	10.61%
Enterprise Value to Invested Capital (EV/IC)	0.99	0.88	0.92	0.47	0.43	0.74	0.78	0.83	0.87	0.69
Enterprise Value to Revenue (EV/Rev)	0.73	0.65	0.64	0.48	0.54	0.80	0.73	0.89	0.85	0.62
Enterprise Value to EBITDA (EV/EBITDA)	20.27	11.84	10.46	4.05	14.01	10.01	11.18	10.06	9.87	9.17
Enterprise Value to EBIT (EV/EBIT)	16.68	10.91	10.12	4.03	14.08	9.95	11.02	9.60	9.23	8.60
Enterprise Value to NOPAT (EV/NOPAT)	22.58	13.92	13.95	4.77	18.77	12.95	13.02	6.02	13.74	12.75
Enterprise Value to Operating Cash Flow (EV/OCF)	1.69	2.96	7.60	1.88	2.34	4.88	5.90	5.54	6.58	3.07
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	1.58	2.54	0.00	0.00	4.81	0.00	0.00	5.06
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.46	0.48	0.55	0.30	0.28	0.31	0.41	0.37	0.55	0.52
Long-Term Debt to Equity	0.46	0.48	0.55	0.30	0.28	0.31	0.41	0.37	0.55	0.52
Financial Leverage	0.47	0.51	0.39	0.29	0.29	0.35	0.39	0.45	0.54	0.48
Leverage Ratio	10.77	11.17	8.77	6.46	6.22	7.05	6.94	6.82	7.82	7.22
Compound Leverage Factor	11.14	11.80	6.24	4.58	6.22	7.05	6.94	6.82	7.82	7.22
Debt to Total Capital	31.62%	32.56%	35.58%	22.82%	21.63%	23.58%	29.11%	27.18%	35.65%	34.26%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	31.62%	32.56%	35.58%	22.82%	21.63%	23.58%	29.11%	27.18%	35.65%	34.26%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.56%	0.66%	0.81%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	67.82%	66.78%	63.61%	77.18%	78.37%	76.42%	70.89%	72.82%	64.35%	65.75%
Debt to EBITDA	6.46	4.37	4.06	1.98	7.12	3.18	4.16	3.27	4.02	4.58
Net Debt to EBITDA	2.20	1.44	1.06	0.46	0.99	1.89	1.89	2.08	2.79	2.39
Long-Term Debt to EBITDA	6.46	4.37	4.06	1.98	7.12	3.18	4.16	3.27	4.02	4.58
Debt to NOPAT	7.20	5.15	5.41	2.33	9.54	4.11	4.85	1.96	5.60	6.37
Net Debt to NOPAT	2.45	1.69	1.41	0.55	1.33	2.45	2.21	1.25	3.89	3.33
Long-Term Debt to NOPAT	7.20	5.15	5.41	2.33	9.54	4.11	4.85	1.96	5.60	6.37
Noncontrolling Interest Sharing Ratio	0.90%	1.10%	0.45%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-1,650	-1,606	6,461	3,101	-2,718	-2,390	1,938	-297	-989	1,265
Operating Cash Flow to CapEx	0.00%	0.00%	959.29%	0.00%	11,864.29%	6,785.29%	5,451.72%	4,504.55%	3,283.27%	8,867.72%
Free Cash Flow to Firm to Interest Expense	-5.43	-6.25	33.83	22.31	-15.99	-13.82	13.18	-2.04	-7.19	8.86
Operating Cash Flow to Interest Expense	30.82	15.74	7.03	30.09	19.54	13.34	10.76	13.58	10.65	14.62
Operating Cash Flow Less CapEx to Interest Expense	30.82	15.74	6.30	30.09	19.38	13.14	10.56	13.27	10.33	14.45
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.20	0.20	0.18	0.19	0.18	0.20	0.20	0.22	0.22	0.22
Fixed Asset Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	15,948	13,598	11,132	16,861	18,313	15,180	11,920	13,142	11,022	9,332
Invested Capital Turnover	1.48	1.48	1.15	0.94	0.86	1.04	1.02	1.02	1.12	1.06
Increase / (Decrease) in Invested Capital	2,350	2,466	-5,729	-1,452	3,133	3,260	-1,222	2,119	1,690	-763
Enterprise Value (EV)	15,814	11,978	10,213	7,867	7,788	11,266	9,324	10,972	9,637	6,404
Market Capitalization	14,008	10,431	9,089	6,968	7,235	9,136	7,744	8,703	6,909	4,733
Book Value per Share	$164.22	$137.79	$105.95	$192.51	$211.25	$185.29	$134.61	$148.59	$110.47	$93.31
Tangible Book Value per Share	$164.22	$137.79	$105.95	$192.51	$211.25	$185.29	$134.61	$148.59	$110.47	$93.31
Total Capital	15,948	13,598	11,132	16,861	18,313	15,180	11,920	13,142	11,022	9,332
Total Debt	5,042	4,427	3,961	3,847	3,961	3,579	3,470	3,572	3,929	3,197
Total Long-Term Debt	5,042	4,427	3,961	3,847	3,961	3,579	3,470	3,572	3,929	3,197
Net Debt	1,716	1,457	1,034	899	553	2,130	1,580	2,269	2,729	1,671
Capital Expenditures (CapEx)	0.00	0.00	140	0.00	28	34	29	44	45	24
Net Nonoperating Expense (NNE)	-24	-49	211	479	0.00	0.00	0.00	0.00	0.00	0.00
Net Nonoperating Obligations (NNO)	5,042	4,427	3,961	3,847	3,961	3,579	3,470	3,572	3,929	3,197
Total Depreciation and Amortization (D&A)	-168	-86	-33	-11	3.00	-6.00	-12	-52	-67	-46
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$10.90	$13.60	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic Shares Outstanding	66.02M	65.76M	66.86M	67.19M	67.97M	62.58M	62.84M	64.48M	64.33M	65.21M
Adjusted Diluted Earnings per Share	$10.73	$13.44	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Diluted Shares Outstanding	66.02M	65.76M	66.86M	67.19M	67.97M	62.58M	62.84M	64.48M	64.33M	65.21M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	66.02M	65.76M	66.86M	67.19M	67.97M	62.58M	62.84M	64.48M	64.33M	65.21M
Normalized Net Operating Profit after Tax (NOPAT)	668	853	739	1,600	428	892	741	820	719	517
Normalized NOPAT Margin	3.06%	4.66%	4.61%	9.68%	2.97%	6.32%	5.82%	6.63%	6.31%	5.04%
Pre Tax Income Margin	4.49%	6.34%	4.48%	8.38%	3.83%	8.01%	6.65%	9.24%	9.17%	7.25%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	3.12	4.27	5.28	14.04	3.25	6.54	5.76	7.83	7.59	5.21
NOPAT to Interest Expense	2.30	3.35	3.83	11.86	2.44	5.03	4.87	12.48	5.10	3.52
EBIT Less CapEx to Interest Expense	3.12	4.27	4.55	14.04	3.09	6.35	5.56	7.53	7.26	5.05
NOPAT Less CapEx to Interest Expense	2.30	3.35	3.10	11.86	2.28	4.83	4.67	12.18	4.77	3.35
Payout Ratios	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	31.63%	24.09%	39.35%	16.58%	43.86%	18.74%	19.55%	6.42%	14.31%	18.60%
Augmented Payout Ratio	35.36%	49.06%	54.89%	25.04%	83.13%	30.34%	61.45%	12.40%	31.83%	95.17%

This table displays calculated financial ratios and metrics derived from Reinsurance Group of America's official financial filings.

Metric	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	-17.37%	4.39%	9.68%	17.42%	49.33%	14.81%	26.99%	6.06%	8.34%	-1.31%	-0.03%
EBITDA Growth	26.21%	-20.81%	22.48%	-35.61%	-23.69%	-53.97%	100.00%	68.48%	21.72%	-67.53%	538.24%
EBIT Growth	26.21%	-20.81%	22.48%	-35.61%	-23.69%	-53.97%	100.00%	68.48%	21.72%	-67.53%	538.24%
NOPAT Growth	26.38%	-45.89%	18.91%	-37.49%	-17.49%	-34.40%	117.29%	82.51%	18.91%	-58.67%	538.24%
Net Income Growth	35.85%	-6.25%	-45.33%	-1.45%	-16.21%	-45.39%	485.33%	95.28%	28.43%	-58.67%	-240.91%
EPS Growth	35.13%	-7.14%	-45.69%	-0.66%	-15.05%	-44.78%	479.65%	96.77%	27.84%	-58.56%	-253.13%
Operating Cash Flow Growth	75.09%	149.78%	-6.70%	-296.31%	-264.42%	183.55%	-19.76%	-208.86%	-865.64%	570.36%	-156.00%
Free Cash Flow Firm Growth	-84.90%	1.22%	22.93%	27.65%	-238.73%	-137.76%	-151.91%	-138.02%	-62.33%	178.67%	966.85%
Invested Capital Growth	23.17%	17.28%	29.21%	16.85%	14.90%	22.15%	58.53%	30.74%	-7.13%	-33.98%	-51.44%
Revenue Q/Q Growth	0.49%	-7.50%	15.96%	-23.34%	26.95%	-2.81%	24.14%	-2.50%	-2.39%	7.50%	3.68%
EBITDA Q/Q Growth	100.64%	-57.26%	103.91%	-27.82%	25.89%	-33.89%	7.19%	-14.46%	-24.07%	187.25%	-9.70%
EBIT Q/Q Growth	100.64%	-57.26%	103.91%	-27.82%	25.89%	-33.89%	7.19%	-14.46%	-24.07%	187.25%	-9.70%
NOPAT Q/Q Growth	134.90%	-61.41%	98.52%	-29.77%	0.57%	-15.20%	4.37%	-7.30%	-20.05%	180.92%	-12.34%
Net Income Q/Q Growth	92.00%	-5.06%	-22.55%	-3.77%	32.50%	-44.64%	39.61%	-18.18%	-13.65%	490.67%	-170.75%
EPS Q/Q Growth	93.21%	-5.15%	-23.10%	-4.11%	32.77%	-44.52%	40.66%	-18.01%	-13.69%	481.42%	-172.90%
Operating Cash Flow Q/Q Growth	-108.34%	1,706.37%	-10.34%	83.14%	-183.59%	786.20%	-309.84%	84.50%	-165.04%	389.82%	-956.96%
Free Cash Flow Firm Q/Q Growth	-33.42%	34.16%	-69.62%	-24.10%	28.72%	48.63%	-59.23%	-337.95%	-80.60%	-29.37%	16.62%
Invested Capital Q/Q Growth	8.01%	-2.06%	9.35%	6.49%	2.85%	7.89%	-1.11%	4.72%	9.33%	40.03%	-18.44%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
EBITDA Margin	6.04%	3.03%	6.55%	3.72%	3.96%	3.99%	5.87%	6.79%	7.74%	9.95%	3.72%
EBIT Margin	6.04%	3.03%	6.55%	3.72%	3.96%	3.99%	5.87%	6.79%	7.74%	9.95%	3.72%
Profit (Net Income) Margin	5.56%	2.91%	2.84%	4.24%	3.38%	3.24%	5.69%	5.06%	6.03%	6.81%	-1.87%
Tax Burden Percent	78.05%	66.67%	73.83%	75.84%	77.94%	97.56%	76.05%	78.11%	72.08%	76.90%	97.40%
Interest Burden Percent	117.89%	144.23%	58.63%	150.28%	109.68%	83.25%	127.52%	95.32%	108.00%	89.02%	-51.68%
Effective Tax Rate	21.95%	33.33%	26.17%	24.16%	22.06%	2.44%	23.95%	21.89%	27.92%	23.10%	0.00%
Return on Invested Capital (ROIC)	6.26%	2.98%	7.23%	4.31%	4.81%	5.76%	7.67%	7.83%	7.22%	7.81%	3.45%
ROIC Less NNEP Spread (ROIC-NNEP)	7.12%	3.95%	4.88%	5.69%	5.23%	5.00%	9.11%	7.59%	7.68%	7.81%	-1.21%
Return on Net Nonoperating Assets (RNNOA)	3.44%	1.86%	2.40%	3.18%	2.69%	2.56%	6.63%	4.76%	3.74%	3.02%	-0.56%
Return on Equity (ROE)	9.70%	4.84%	9.63%	7.50%	7.49%	8.33%	14.30%	12.59%	10.97%	10.82%	2.89%
Cash Return on Invested Capital (CROIC)	-15.95%	-11.17%	-20.02%	-10.22%	-7.60%	-12.98%	-35.14%	-20.62%	11.96%	46.16%	76.96%
Operating Return on Assets (OROA)	1.07%	0.61%	1.36%	0.79%	0.83%	0.80%	1.22%	1.30%	1.42%	1.80%	0.69%
Return on Assets (ROA)	0.98%	0.59%	0.59%	0.90%	0.71%	0.65%	1.18%	0.97%	1.10%	1.23%	-0.35%
Return on Common Equity (ROCE)	9.61%	4.80%	9.54%	7.42%	7.41%	8.24%	14.09%	12.43%	10.85%	10.78%	2.87%
Return on Equity Simple (ROE_SIMPLE)	7.02%	0.00%	6.60%	8.89%	9.17%	0.00%	12.92%	8.69%	7.57%	0.00%	25.65%
Net Operating Profit after Tax (NOPAT)	244	104	269	136	193	192	227	217	234	293	104
NOPAT Margin	4.72%	2.02%	4.84%	2.82%	3.08%	3.89%	4.46%	5.31%	5.58%	6.81%	2.61%
Net Nonoperating Expense Percent (NNEP)	-0.86%	-0.97%	2.34%	-1.38%	-0.42%	0.77%	-1.44%	0.23%	-0.45%	0.00%	4.66%
SG&A Expenses to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	93.96%	96.97%	93.45%	96.28%	96.04%	96.01%	94.14%	93.21%	92.26%	90.05%	96.28%
Earnings before Interest and Taxes (EBIT)	313	156	365	179	248	197	298	278	325	428	149
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	313	156	365	179	248	197	298	278	325	428	149
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	1.14	1.30	1.29	1.38	1.33	1.15	1.17	1.15	1.13	1.28	2.21
Price to Tangible Book Value (P/TBV)	1.14	1.30	1.29	1.38	1.33	1.15	1.17	1.15	1.13	1.28	2.21
Price to Revenue (P/Rev)	0.63	0.64	0.66	0.64	0.62	0.57	0.53	0.54	0.53	0.57	0.50
Price to Earnings (P/E)	16.39	19.54	19.74	15.67	14.66	11.56	9.12	13.40	15.06	17.58	8.65
Dividend Yield	1.79%	1.64%	1.58%	1.66%	1.75%	2.09%	2.28%	2.37%	2.43%	2.25%	2.48%
Earnings Yield	6.10%	5.12%	5.07%	6.38%	6.82%	8.65%	10.97%	7.46%	6.64%	5.69%	11.56%
Enterprise Value to Invested Capital (EV/IC)	0.79	0.99	0.88	0.94	0.80	0.88	0.89	0.89	0.81	0.92	1.12
Enterprise Value to Revenue (EV/Rev)	0.66	0.73	0.66	0.66	0.55	0.65	0.63	0.68	0.60	0.64	0.55
Enterprise Value to EBITDA (EV/EBITDA)	13.50	20.27	14.47	15.19	10.96	11.84	8.39	9.61	9.24	10.46	4.67
Enterprise Value to EBIT (EV/EBIT)	13.50	16.68	14.47	15.19	10.96	10.91	8.39	9.61	9.24	10.12	4.67
Enterprise Value to NOPAT (EV/NOPAT)	18.17	22.58	18.12	19.06	13.65	13.92	10.70	16.73	17.09	13.95	9.47
Enterprise Value to Operating Cash Flow (EV/OCF)	1.00	1.69	0.00	0.00	0.00	2.96	0.00	0.00	0.00	7.60	0.00
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	6.53	1.58	0.95
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.50	0.46	0.45	0.52	0.46	0.48	0.55	0.61	0.58	0.55	1.12
Long-Term Debt to Equity	0.50	0.46	0.45	0.52	0.46	0.48	0.55	0.61	0.58	0.55	1.12
Financial Leverage	0.48	0.47	0.49	0.56	0.51	0.51	0.73	0.63	0.49	0.39	0.46
Leverage Ratio	11.13	10.77	10.72	11.23	11.30	11.17	14.30	12.56	10.53	8.77	10.47
Compound Leverage Factor	13.12	15.54	6.29	16.87	12.39	9.30	18.24	11.97	11.37	7.81	-5.41
Debt to Total Capital	33.29%	31.62%	31.12%	34.03%	31.66%	32.56%	35.31%	38.05%	36.60%	35.58%	52.92%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	33.29%	31.62%	31.12%	34.03%	31.66%	32.56%	35.31%	38.05%	36.60%	35.58%	52.92%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.52%	0.56%	0.55%	0.60%	0.64%	0.66%	0.71%	0.71%	0.74%	0.81%	1.13%
Common Equity to Total Capital	66.19%	67.82%	68.33%	65.37%	67.70%	66.78%	63.98%	61.24%	62.66%	63.61%	45.95%
Debt to EBITDA	5.66	6.46	5.12	5.50	4.34	4.37	3.35	4.11	4.18	4.06	2.22
Net Debt to EBITDA	0.58	2.20	-0.13	0.51	-1.48	1.44	1.23	1.91	1.09	1.06	0.37
Long-Term Debt to EBITDA	5.66	6.46	5.12	5.50	4.34	4.37	3.35	4.11	4.18	4.06	2.22
Debt to NOPAT	7.62	7.20	6.41	6.89	5.40	5.15	4.27	7.15	7.72	5.41	4.49
Net Debt to NOPAT	0.77	2.45	-0.16	0.64	-1.84	1.69	1.56	3.32	2.01	1.41	0.74
Long-Term Debt to NOPAT	7.62	7.20	6.41	6.89	5.40	5.15	4.27	7.15	7.72	5.41	4.49
Noncontrolling Interest Sharing Ratio	0.86%	0.90%	0.93%	1.02%	1.04%	1.10%	1.51%	1.30%	1.06%	0.45%	0.54%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-2,997	-2,246	-3,412	-2,011	-1,621	-2,274	-4,426	-2,780	1,168	6,022	8,526
Operating Cash Flow to CapEx	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	2,000.00%	-11,928.57%
Free Cash Flow to Firm to Interest Expense	-37.46	-26.12	-43.74	-27.93	-23.83	-32.95	-61.48	-44.12	22.04	107.54	174.01
Operating Cash Flow to Interest Expense	-17.86	199.30	-13.68	-13.43	-84.35	99.45	-13.89	-3.87	-29.70	43.21	-17.04
Operating Cash Flow Less CapEx to Interest Expense	-17.86	199.30	-13.68	-13.43	-84.35	99.45	-13.89	-3.87	-29.70	41.05	-17.18
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.18	0.20	0.21	0.21	0.21	0.20	0.21	0.19	0.18	0.18	0.18
Fixed Asset Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	17,226	15,948	16,284	14,892	13,985	13,598	12,603	12,745	12,171	11,132	7,950
Invested Capital Turnover	1.33	1.48	1.49	1.53	1.56	1.48	1.72	1.48	1.29	1.15	1.32
Increase / (Decrease) in Invested Capital	3,241	2,350	3,681	2,147	1,814	2,466	4,653	2,997	-934	-5,729	-8,422
Enterprise Value (EV)	13,673	15,814	14,310	14,007	11,187	11,978	11,154	11,344	9,863	10,213	8,872
Market Capitalization	13,000	14,008	14,348	13,446	12,605	10,431	9,434	9,002	8,612	9,089	8,087
Book Value per Share	$172.69	$164.22	$168.96	$147.97	$143.91	$137.79	$121.78	$117.29	$114.06	$105.95	$54.52
Tangible Book Value per Share	$172.69	$164.22	$168.96	$147.97	$143.91	$137.79	$121.78	$117.29	$114.06	$105.95	$54.52
Total Capital	17,226	15,948	16,284	14,892	13,985	13,598	12,603	12,745	12,171	11,132	7,950
Total Debt	5,734	5,042	5,067	5,067	4,427	4,427	4,450	4,850	4,455	3,961	4,207
Total Long-Term Debt	5,734	5,042	5,067	5,067	4,427	4,427	4,450	4,850	4,455	3,961	4,207
Net Debt	583	1,716	-128	471	-1,508	1,457	1,630	2,252	1,161	1,034	695
Capital Expenditures (CapEx)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	121	7.00
Net Nonoperating Expense (NNE)	-44	-46	111	-68	-19	32	-62	10	-19	0.00	179
Net Nonoperating Obligations (NNO)	5,734	5,042	5,067	5,067	4,427	4,427	4,450	4,850	4,455	3,961	4,207
Total Depreciation and Amortization (D&A)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$4.33	$2.26	$2.37	$3.07	$3.20	$2.40	$4.34	$3.09	$3.77	$4.36	$4.24
Adjusted Weighted Average Basic Shares Outstanding	66.09M	66.02M	65.86M	65.86M	65.79M	65.76M	65.91M	66.21M	66.54M	66.86M	66.84M
Adjusted Diluted Earnings per Share	$4.27	$2.21	$2.33	$3.03	$3.16	$2.38	$4.29	$3.05	$3.72	$4.31	$4.19
Adjusted Weighted Average Diluted Shares Outstanding	66.09M	66.02M	65.86M	65.86M	65.79M	65.76M	65.91M	66.21M	66.54M	66.86M	66.84M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	66.09M	66.02M	65.86M	65.86M	65.79M	65.76M	65.91M	66.21M	66.54M	66.86M	66.84M
Normalized Net Operating Profit after Tax (NOPAT)	267	83	292	130	166	220	211	193	244	278	120
Normalized NOPAT Margin	5.15%	1.60%	5.25%	2.70%	2.65%	4.45%	4.15%	4.71%	5.82%	6.45%	3.01%
Pre Tax Income Margin	7.12%	4.36%	3.84%	5.60%	4.34%	3.32%	7.48%	6.47%	8.36%	8.86%	-1.92%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	3.91	1.81	4.68	2.49	3.65	2.86	4.14	4.41	6.13	7.64	3.04
NOPAT to Interest Expense	3.05	1.21	3.45	1.89	2.84	2.79	3.15	3.45	4.42	5.23	2.13
EBIT Less CapEx to Interest Expense	3.91	1.81	4.68	2.49	3.65	2.86	4.14	4.41	6.13	5.48	2.90
NOPAT Less CapEx to Interest Expense	3.05	1.21	3.45	1.89	2.84	2.79	3.15	3.45	4.42	3.07	1.99
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	29.00%	31.63%	30.93%	25.90%	25.58%	24.09%	20.73%	31.56%	36.22%	39.35%	21.45%
Augmented Payout Ratio	35.13%	35.36%	42.37%	40.58%	45.85%	49.06%	39.54%	57.08%	57.19%	54.89%	32.66%

Frequently Asked Questions About Reinsurance Group of America's Financials

When does Reinsurance Group of America's fiscal year end?

According to the most recent income statement we have on file, Reinsurance Group of America's financial year ends in December. Their financial year 2024 ended on December 31, 2024.

How has Reinsurance Group of America's net income changed over the last 9 years?

The last 5 years of Reinsurance Group of America's net income performance:

2020: $415 million
2021: $1.17 billion
2022: $521 million
2023: $909 million
2024: $724 million

Find out what analysts predict for Reinsurance Group of America in the coming months.

How has Reinsurance Group of America revenue changed over the last 9 years?

Over the last 9 years, Reinsurance Group of America's total revenue changed from $10.28 billion in 2015 to $21.80 billion in 2024, a change of 112.2%.

How much debt does Reinsurance Group of America have?

Reinsurance Group of America's total liabilities were at $107.77 billion at the end of 2024, a 21.8% increase from 2023, and a 143.6% increase since 2015.

How much cash does Reinsurance Group of America have?

In the past 9 years, Reinsurance Group of America's cash and equivalents has ranged from $1.20 billion in 2016 to $3.41 billion in 2020, and is currently $3.33 billion as of their latest financial filing in 2024.

How has Reinsurance Group of America's book value per share changed over the last 9 years?

Over the last 9 years, Reinsurance Group of America's book value per share changed from 93.31 in 2015 to 164.22 in 2024, a change of 76.0%.

Related Companies

This page (NYSE:RGA) was last updated on 5/30/2025 by MarketBeat.com Staff

From Our Partners

Get 30 Days of MarketBeat All Access for Free

Start Your 30-Day Trial

In-depth profiles and analysis for 20,000 public companies.
Real-time analyst ratings, insider transactions, earnings data, and more.
Our daily ratings and market update email newsletter.

Sign In
Create Account

Your Email Address:

Your Password:

Forgot your password?

Your Email Address:

Choose a Password:

By creating a free account, you agree to our terms of service. This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Reinsurance Group of America (RGA) Financials

Frequently Asked Questions About Reinsurance Group of America's Financials

Best-in-Class Portfolio Monitoring

Stock Ideas and Recommendations

Advanced Stock Screeners and Research Tools

About MarketBeat

MarketBeat Products

Popular Tools

Financial Calendars

Terms & Info

Reinsurance Group of America (RGA) Financials

Annual Income Statements for Reinsurance Group of America

Quarterly Income Statements for Reinsurance Group of America

Annual Cash Flow Statements for Reinsurance Group of America

Quarterly Cash Flow Statements for Reinsurance Group of America

Annual Balance Sheets for Reinsurance Group of America

Quarterly Balance Sheets for Reinsurance Group of America

Annual Metrics And Ratios for Reinsurance Group of America

Quarterly Metrics And Ratios for Reinsurance Group of America

Frequently Asked Questions About Reinsurance Group of America's Financials

MarketBeat All Access Features

Best-in-Class Portfolio Monitoring

Stock Ideas and Recommendations

Advanced Stock Screeners and Research Tools