Reinsurance Group of America
Reinsures life and health risks while providing asset-intensive and capital solutions.
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Profile
Reinsures individual and group life and health coverage and provides asset-intensive, longevity, pension-risk-transfer, and capital solutions worldwide. Revenue comes from treaty premiums, financial-solutions fees, and investment income, while results depend on underwriting, policyholder behavior, markets, ratings, and regulatory capital.
Reinsures individual and group life and health coverage, including disability, long-term care, and critical illness, while also providing asset-intensive, longevity, pension-risk-transfer, stable-value, and capital solutions.
Operations span the U.S. and Latin America, Canada, Europe, the Middle East and Africa, and Asia Pacific, with traditional reinsurance and financial solutions organized within those regions.
Combines actuarial pricing, underwriting, investment management, and transaction execution to assume long-duration risks from insurers and acquire selected in-force blocks. Revenue comes from treaty premiums, financial-solutions fees, and investment income.
Results depend on mortality and morbidity experience, policyholder behavior, credit and investment performance, interest rates, financial-strength ratings, regulatory capital, counterparties, technology resilience, and integration of large transactions.
Company facts
Categories
Key statistics
Year to date +20.7% · Average volume (30d) 333.5K
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Rating | Prior target | Target |
|---|---|---|---|---|---|
| Aug 24, 2026 | Morgan Stanley | Reiterate | Equal Weight | $208 | $250 |
| Aug 19, 2026 | Wells Fargo | Reiterate | Overweight | $238 | $291 |
| Aug 7, 2026 | Barclays | Reiterate | Overweight | $278 | $290 |
| Jul 8, 2026 | UBS | Reiterate | Neutral | $220 | $236 |
| Jul 7, 2026 | Barclays | Reiterate | Overweight | $268 | $278 |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Aug 6, 2026Q2 FY26 | $6.50 | $8.89 | +36.8% | $6.67B | $6.64B | −0.6% | +4.24% |
| May 7, 2026Q1 FY26 | $6.03 | $6.97 | +15.6% | $6.47B | $6.49B | +0.4% | −1.04% |
| Feb 5, 2026Q4 FY25 | $5.78 | $7.75 | +34.1% | $6.31B | $6.64B | +5.1% | +9.40% |
| Oct 30, 2025Q3 FY25 | $5.76 | $6.37 | +10.6% | $6.08B | $6.23B | +2.4% | −3.46% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $5.29B | $5.56B | $6.23B | $6.34B | $6.47B | $6.64B | |
| Gross profit | $778.0M | $713.0M | $771.0M | $1.66B | $1.85B | $2.18B | |
| Operating income | $369.0M | $341.0M | $320.0M | $510.0M | $441.0M | $605.0M | |
| Net income | $286.0M | $180.0M | $253.0M | $463.0M | $330.0M | $462.0M | |
| Diluted EPS | $4.27 | $2.70 | $3.78 | $6.97 | $5.00 | $7.01 | |
| Gross margin | 14.7% | 12.8% | 12.4% | 26.3% | 28.6% | 32.8% | |
| Operating margin | 7.0% | 6.1% | 5.1% | 8.0% | 6.8% | 9.1% |
Fiscal years (4-quarter sums)FY21 $15.70B · FY22 $15.89B · FY23 $18.39B · FY24 $22.05B · FY25 $23.41B
Revenue by product · FY24
Revenue by geography · FY25
Balance sheet, Jun 30, 2026Cash & short-term investments $5.67B · Total debt $5.71B · Total assets $167.12B · Shareholders' equity $13.69B
Dividends
Raised for 17 straight years — most recently to $0.98 from $0.93 in Aug 2026. To collect a payout, hold shares through the close before the ex-date.
History
| Ex-date | Record | Paid | Amount | Note |
|---|---|---|---|---|
| Aug 18, 2026 | Aug 18 | Sep 1 | $0.98 | raised from $0.93 |
| May 19, 2026 | May 19 | Jun 2 | $0.93 | |
| Feb 17, 2026 | Feb 17 | Mar 3 | $0.93 | |
| Nov 10, 2025 | Nov 11 | Nov 25 | $0.93 | |
| Aug 12, 2025 | Aug 12 | Aug 26 | $0.93 | raised from $0.89 |
| May 13, 2025 | May 13 | May 27 | $0.89 | |
| Feb 18, 2025 | Feb 18 | Mar 4 | $0.89 | |
| Nov 12, 2024 | Nov 12 | Nov 26 | $0.89 |
Ownership
A 13F quarter can total more than the shares outstanding — sub-advisers file the same block twice, and a filer's own share count can be a quarter stale. No split is drawn from it.
Shares outstanding 65.51M · Float 65.17M · 99.5% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| BlackRock, Inc. | 6.81M | 10.40% | 13F | Aug 7, 2026 |
| FMR LLC | 5.92M | 9.04% | 13F | Aug 13, 2026 |
| Harris Associates L P | 4.68M | 7.15% | 13F | Aug 14, 2026 |
| Vanguard Portfolio Management LLC | 3.49M | 5.33% | 13F | Aug 13, 2026 |
| WCM Investment Management, LLC | 3.01M | 4.59% | 13F | Aug 13, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Aug 12, 2026 | Jonathan Porter | officer: EVP, Global Chief Risk Officer | −8,589 | $246.30 |
| May 20, 2026 | John W. Hayden | officer: EVP, Controller | −414 | $214.95 |
| May 14, 2026 | Ronald Herrmann | officer: Executive Vice President | −7,000 | $210.58 |
Peers
Not reported.