A Business at a Glance
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Table of Contents Item 1. BUSINESS Reinsurance Group of America, Incorporated (“RGA”) is an insurance holding company that was formed on December 31, 1992. The consolidated financial statements herein include the assets, liabilities, and results of operations of RGA and its subsidiaries, all of which are wholly owned. The terms “Company”, “we”, “us” and “our” in this Annual Report on Form 10-K refer to RGA and its subsidiaries. The Company is a leading global provider of traditional life and health, and asset-intensive reinsurance, with operations in the U.S., Latin America, Canada, Europe, the Middle East, Africa, Asia and Australia. Reinsurance is an arrangement under which an insurance company, the “reinsurer,” agrees to indemnify another insurance company, the “ceding company,” for all or a portion of the insurance and/or investment risks underwritten by the ceding company. Reinsurance is designed to: i.
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 23.7B | 23.7B | 22.1B | 18.6B | 16.2B | 16.7B |
| Net Income | 1.2B | 1.2B | 717M | 902M | 517M | 1.2B |
| EPS | $17.69 | $17.69 | $10.73 | $13.44 | $7.64 | $17.13 |
| Free Cash Flow | 3.8B | 3.8B | 9.3B | 3.9B | 1.2B | 3.6B |
| ROIC | 0.0% | 6.7% | 4.5% | 6.7% | 7.3% | 36.9% |
| Gross Margin | - | - | - | - | - | - |
| Debt/Equity | 0.82 | 0.82 | 0.82 | 0.49 | 0.56 | -7.33 |
| Dividends/Share | $3.59 | $3.59 | $3.43 | $3.26 | $3.03 | $2.84 |
| Operating Income | 0 | - | - | - | - | - |
| Operating Margin | 0.0% | - | - | - | - | - |
| ROE | 8.8% | 9.7% | 6.6% | 9.9% | 15.7% | - |
| Shares Outstanding | 67M | 67M | 67M | 67M | 68M | 68M |
REINSURANCE GROUP OF AMERICA INC passes 3 of 9 quality checks, indicating weak fundamentals.
REINSURANCE GROUP OF AMERICA INC trades at 1.4x trailing earnings, compared to its 15-year median P/E of 2.0x, suggesting it is currently Cheap relative to its historical range. On a free-cash-flow basis, the stock trades at 0.4x vs a median of 0.4x. The company's 5-year average ROIC is 12.4%. Total shareholder yield (dividends + buybacks) is 24.4%. At current prices, the estimated annualized return to fair value is +109.9%.
REINSURANCE GROUP OF AMERICA INC (RZC) has a current P/E ratio of 1.4, compared to its historical median P/E of 2.0. The stock is currently considered Cheap based on its historical valuation range.
REINSURANCE GROUP OF AMERICA INC (RZC) has a 5-year average return on invested capital (ROIC) of 12.4%. This indicates solid capital allocation.
REINSURANCE GROUP OF AMERICA INC (RZC) has a market capitalization of $1.7B. It is classified as a small-cap stock.
Yes, REINSURANCE GROUP OF AMERICA INC (RZC) pays a dividend with a trailing twelve-month yield of 14.13%. The company also returns capital through share buybacks, with a buyback yield of 10.24%.
Based on historical P/E analysis, REINSURANCE GROUP OF AMERICA INC (RZC) appears cheap. The current P/E of 1.4 is 27% below its historical median of 2.0. The estimated fair value CAGR (P/E method) is 6.5%.
REINSURANCE GROUP OF AMERICA INC (RZC) operates in the Life Insurance industry, within the Financials sector.
REINSURANCE GROUP OF AMERICA INC (RZC) reported annual revenue of $23.7 billion in its most recent fiscal year, based on SEC EDGAR filings.
REINSURANCE GROUP OF AMERICA INC (RZC) has a net profit margin of 5.0%. This is a modest margin.
REINSURANCE GROUP OF AMERICA INC (RZC) generated $3.8 billion in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
REINSURANCE GROUP OF AMERICA INC (RZC) has a debt-to-equity ratio of 0.82. This indicates moderate leverage.
REINSURANCE GROUP OF AMERICA INC (RZC) reported earnings per share (EPS) of $17.69 in its most recent fiscal year.
REINSURANCE GROUP OF AMERICA INC (RZC) has a return on equity (ROE) of 9.7%. This indicates moderate shareholder returns.
The Ledger Terminal provides 16 years of financial data for REINSURANCE GROUP OF AMERICA INC (RZC), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
REINSURANCE GROUP OF AMERICA INC (RZC) has a book value per share of $201.46, based on its most recent annual SEC filing.