Reinsurance Group of America, Incorporated (RGA)

In October 2025, RGA reported its Q3 2025 earnings, posting an EPS of $6.37, which exceeded analysts' expectations. In February 2026, RGA announced record earnings for the fourth quarter of 2025, with an EPS of $7.75, significantly surpassing forecasts, leading to a stock price surge. Concurrently, the company reinstated share buybacks, deploying $50 million in Q4 2025, and authorized a new share repurchase program of up to $500 million in January 2026. Additionally, RGA announced the appointment of Peter Babej to its Board of Directors, effective April 1, 2026, and Jayson Bronchetti as Executive Vice President, Investments, effective March 2, 2026. The company also priced $400 million of 6.375% Fixed-Rate Reset Subordinated Debentures due 2056 in February 2026.

Demand for RGA's products and services can be influenced by the seasonality of mortality. Mortality rates tend to be higher in colder months due to an increase in respiratory causes of death, while unnatural deaths tend to trend higher in the summer months. The global reinsurance sector is also experiencing broader growth driven by demographic shifts and longer life expectancies.

Reinsurance Group of America, Inc. (RGA) is a global leader in the life and health reinsurance industry, offering a comprehensive suite of solutions to primary insurance companies worldwide. RGA operates within the financial sector, specifically in the reinsurance industry, focusing primarily on life and health-related reinsurance solutions. The company's major products and services include traditional reinsurance for individual and group life and health, living benefits reinsurance, critical illness, disability, and long-term care. Additionally, RGA provides financial solutions such as asset-intensive reinsurance, longevity reinsurance, stable value products, pension risk transfer transactions, and capital solutions. The company also offers facultative underwriting and product development services, leveraging advanced analytics and underwriting expertise to help clients manage risk, improve capital efficiency, and develop innovative products.

RGA boasts a significant global presence, with operations extending across six continents and in more than 25 markets. Its geographic segments include the Americas (Canada, United States, and Latin America), Asia Pacific (Australia, New Zealand, Japan, Hong Kong, Taiwan, South Korea, Malaysia, China, India, and Singapore), and Europe, Middle East, and Africa (EMEA), which comprises France, Germany, Ireland, Italy, the Netherlands, Poland, South Africa, Spain, the United Arab Emirates, and the United Kingdom.

RGA maintains a strong brand reputation, evidenced by its consistent recognition as a leading company in its field. In January 2026, RGA was named to Fortune's "World's Most Admired Companies" list. The company has also been ranked #1 on NMG Consulting's Global All Respondent Business Capability Index for 12 consecutive years as of 2023, and for 14 consecutive years as of December 2025. RGA's commitment to its social purpose was highlighted during the COVID-19 pandemic, where it provided financial security to families globally, paying over $2.4 billion in estimated COVID-19-related claims by September 30, 2022, while maintaining financial strength and client service.

Ownership of Reinsurance Group of America is predominantly concentrated among institutional investors, who hold 83.55% of RGA's shares. Major institutional shareholders include Vanguard Group Inc., BlackRock, Inc., Fmr Llc, Harris Associates L.P., WCM Investment Management, Llc, Earnest Partners Llc, State Street Corp, American Century Companies Inc, Aqr Capital Management Llc, and Geode Capital Management, Llc. Individual investors account for a smaller portion, holding 0.31% of the total ownership. Shareholders are primarily from the United States, representing 84.02% of the total.