Reinsurance Group of America Reports Strong Fourth Quarter and Full Year Results
ST. LOUIS – – Reinsurance Group of America, Incorporated (NYSE: RGA) today announced strong financial results for the fourth quarter and full year of 2025, exceeding analyst expectations. Shares of the global life and health reinsurer jumped 4.9% in after-hours trading , according to reports.
The company reported fourth quarter net income available to RGA shareholders of $463 million, or $6.97 per diluted share, a significant increase compared to $148 million, or $2.22 per diluted share, in the prior-year quarter. Adjusted operating income for the quarter totaled $515 million, or $7.75 per diluted share, compared to $334 million, or $4.99 per diluted share, in the same period last year.
Full year results also showed substantial gains. Net income available to RGA shareholders reached $17.69 per diluted share, while adjusted operating income totaled $22.72 per diluted share. Excluding notable items, adjusted operating income for the full year was $24.42 per diluted share.
RGA demonstrated strong investment performance, including favorable variable investment income. The company also actively deployed capital, completing $2.5 billion in in-force block transactions and repurchasing $125 million of common shares throughout the year.
Key Financial Highlights
Several key financial metrics underscored RGA’s performance:
- Net income available to RGA shareholders (Q4): $463 million, or $6.97 per diluted share
- Adjusted operating income (Q4): $515 million, or $7.75 per diluted share
- Net income available to RGA shareholders (Full Year): $17.69 per diluted share
- Adjusted operating income (Full Year): $22.72 per diluted share
- Adjusted operating ROE (Trailing Twelve Months): 14.7%
- Adjusted operating ROE, excluding notable items (Trailing Twelve Months): 15.7%
- Estimated deployable capital (Year-End): $3.4 billion
The company’s return on equity (ROE) was reported at 9.7%, with an adjusted operating ROE of 14.7%. Excluding notable items, the adjusted operating ROE reached 15.7% for the trailing twelve months.
Net foreign currency fluctuations had a favorable effect of $0.11 per diluted share on net income available to RGA shareholders and $0.09 per diluted share on adjusted operating income, both compared to the prior year.
RGA repurchased $50 million of common shares during the fourth quarter, bringing the total share repurchase for the year to $125 million. The company estimates having $3.4 billion in deployable capital at the end of the year.
RGA, a leading global provider of life and health reinsurance, offers a range of products including individual and group life and health insurance, such as term life, credit life, universal life, and whole life. They also provide critical illness, disability, and longevity products, as well as asset-intensive and financial reinsurance products and other capital-motivated solutions.
According to analyst ratings, the average rating for RGA stock is “Buy,” with a 12-month stock price target of $238.22, representing a potential increase of 15.65% from the closing price.
As of , at 4:00 PM EST, RGA stock was trading at $205.99, up $0.91 (0.44%). In after-hours trading at 5:18 PM EST, the stock price rose to $218.50, an increase of $12.51 (6.07%).
