REINSURANCE GROUP OF AMERICA (RGA) Company Report

RGA's new research indicates that incretin-based drugs, such as GLP-1s, could reduce US mortality by 3.5% by 2045 in a central scenario, with optimistic and pessimistic scenarios projecting 8.8% and 1.0% reductions, respectively.
Under the same central scenario, mortality could decrease by 2.0% in the UK, 2.6% in Canada, and 1.4% in Hong Kong by 2045.
The research also suggests that insured groups and annuitants are likely to experience somewhat lower mortality and morbidity reductions compared to the general population.
Mortality improvements are expected to vary by age, with the 45-59 age group seeing the biggest reduction.

Nov 11, 2025, 2:00 PM

Press Release

RGA Reports Record Q3 2025 Operating EPS and Closes Equitable Transaction

RGA

Earnings

Share Buyback

M&A

RGA reported record operating EPS, excluding notable items, of $6.37 per share for Q3 2025, with a trailing 12-month adjusted operating return on equity of 14.2%.
The Equitable transaction closed during the quarter, contributing a full quarter of earnings in line with expectations, and is projected to contribute $70 million of pre-tax income for the full year, increasing to $160 to $170 million in 2026, and approximately $200 million per year by 2027.
The company repurchased $75 million of common shares at an average price of $184.58 and ended the quarter with an estimated $2.3 billion in excess capital and $3.4 billion in deployable capital.
Traditional business premium growth was 8.5% year-to-date on a constant currency basis, and the overall economic impact of annual actuarial assumption updates is positive for long-term value, expected to increase annual run rates by $15 million, growing to $25 million annually by 2040.

Oct 31, 2025, 2:00 PM

Transcript

RGA Reports Record Q3 2025 Operating EPS and Strong Business Momentum

RGA

Earnings

Share Buyback

New Projects/Investments

Reinsurance Group of America (RGA) reported record operating EPS, excluding notable items, of $6.37 per share for Q3 2025, driven by strong performance in Asia Traditional, EMEA, and U.S. Financial Solutions.
The Equitable transaction closed this quarter, contributing a full quarter of earnings, and is expected to contribute $70 million in pre-tax income for the full year, increasing to approximately $200 million annually by 2027.
The company demonstrated strong new business momentum, with traditional business premiums growing 8.5% year-to-date on a constant currency basis, and deployed $2.4 billion of capital year-to-date into transactions.
RGA repurchased $75 million of common shares during the quarter and ended with an estimated $2.3 billion in excess capital.

Oct 31, 2025, 2:00 PM

Transcript

RGA Reports Record Q3 2025 Operating EPS and Strong Capital Deployment

RGA

Earnings

Share Buyback

New Projects/Investments

Reinsurance Group of America (RGA) reported record operating EPS, excluding notable items, of $6.37 per share for Q3 2025, with strong performance in Asia Traditional, EMEA, and U.S. Financial Solutions.
The company deployed $2.4 billion of capital year-to-date, including $1.5 billion for the Equitable transaction which closed this quarter and is expected to contribute approximately $70 million of pre-tax income for the full year 2025.
RGA's Traditional business premiums grew 8.5% year-to-date on a constant currency basis, and the value of in-force business margins increased by 16% over the past three quarters.
The company repurchased $75 million of common shares and ended Q3 2025 with estimated excess capital of $2.3 billion and deployable capital of $3.4 billion.

Oct 31, 2025, 2:00 PM

Transcript

Reinsurance Group of America, Inc. Reports Strong Q3 2025 Financial Results

RGA

Earnings

Share Buyback

New Projects/Investments

Reinsurance Group of America, Inc. reported net income available to shareholders of $253 million, or $3.81 per diluted share, and adjusted operating income of $310 million, or $4.66 per diluted share, for the third quarter of 2025.
Adjusted operating income, excluding notable items, reached a quarterly record of $424 million, or $6.37 per diluted share, for Q3 2025.
The company deployed approximately $1.7 billion of capital into in-force block transactions, including $1.5 billion for the transaction with Equitable Holdings, Inc..
RGA repurchased $75 million of common shares and reported estimated deployable capital of $3.4 billion at the end of Q3 2025.
For the trailing twelve months, the Return on Equity (ROE) was 7.4%, adjusted operating ROE was 13.2%, and adjusted operating ROE, excluding notable items, was 14.2%.

Oct 30, 2025, 8:17 PM

8-K

RGA Reports Strong Third Quarter 2025 Results

RGA

Earnings

Share Buyback

New Projects/Investments

Reinsurance Group of America (RGA) reported third quarter 2025 net income available to shareholders of $253 million, or $3.81 per diluted share, and adjusted operating income of $310 million, or $4.66 per diluted share.
Adjusted operating income, excluding notable items, reached a record $424 million, or $6.37 per diluted share, for Q3 2025, compared to $410 million, or $6.13 per diluted share, in the prior-year quarter.
The company deployed approximately $1.7 billion of capital into in-force block transactions, including $1.5 billion for the Equitable transaction, and repurchased $75 million of common shares.
For the trailing twelve months ended September 30, 2025, RGA achieved an adjusted operating return on equity (ROE) of 13.2%, and 14.2% excluding notable items.
Net premiums for Q3 2025 totaled $4.28 billion, a 2.5% decrease from the prior-year quarter, which had included a $600 million contribution from a single premium pension transfer transaction.

Oct 30, 2025, 8:15 PM

Press Release

Earnings Transcripts

Quarterly earnings call transcripts for REINSURANCE GROUP OF AMERICA.

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