REINSURANCE GROUP OF AMERICA INC
For the period ended Jun 30, 2025. Filed Aug 1, 2025.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Jun 30, 2025 · Filed Aug 1, 2025
RGA$274.06+2.7%Stored close · as of Nov 10, 2026
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Item 1. Condensed Consolidated Balance Sheets
PART I–FINANCIAL INFORMATION
CONDENSED CONSOLIDATED BALANCE SHEETS
(in millions, except share data)
| June 30,2025 | December 31,2024 | |
|---|---|---|
| Assets | ||
| Fixed maturity securities available-for-sale, at fair value (amortized cost of $91,888 and $82,907; allowance for credit losses of $132 and $98) | $86,043 | $77,617 |
| Equity securities, at fair value | 155 | 155 |
| Mortgage loans (net of allowance for credit losses of $107 and $93) | 10,057 | 8,839 |
| Policy loans | 1,294 | 1,321 |
| Funds withheld at interest | 7,115 | 5,436 |
| Limited partnerships and real estate joint ventures | 3,338 | 3,067 |
| Short-term investments | 502 | 363 |
| Other invested assets | 1,397 | 1,242 |
| Total investments | 109,901 | 98,040 |
| Cash and cash equivalents | 5,416 | 3,326 |
| Accrued investment income | 1,089 | 986 |
| Premiums receivable and other reinsurance balances | 4,202 | 3,898 |
| Reinsurance ceded receivables and other | 5,386 | 5,531 |
| Deferred policy acquisition costs | 5,823 | 5,543 |
| Other assets | 1,662 | 1,351 |
| Total assets | $133,479 | $118,675 |
| Liabilities and equity | ||
| Future policy benefits | $63,531 | $53,368 |
| Interest-sensitive contract liabilities | 37,158 | 35,095 |
| Market risk benefits, at fair value | 233 | 223 |
| Other policy claims and benefits | 3,016 | 2,693 |
| Other reinsurance balances | 1,353 | 1,316 |
| Deferred income taxes | 2,454 | 2,199 |
| Funds withheld payable | 4,816 | 5,017 |
| Other liabilities | 3,041 | 2,816 |
| Long-term debt | 5,734 | 5,042 |
| Total liabilities | 121,336 | 107,769 |
| Commitments and contingent liabilities (See Note 15) | ||
| Equity | ||
| Preferred stock – par value $0.01 per share, 10,000,000 shares authorized, no shares issued or outstanding | — | — |
| Common stock – par value $0.01 per share, 140,000,000 shares authorized, 85,310,598 shares issued at June 30, 2025 and December 31, 2024 | 1 | 1 |
| Additional paid-in-capital | 2,624 | 2,600 |
| Retained earnings | 9,563 | 9,255 |
| Treasury stock, at cost – 19,219,071 and 19,438,336 shares | (1,887) | (1,889) |
| Accumulated other comprehensive income | 1,752 | 849 |
| Total RGA, Inc. shareholders’ equity | 12,053 | 10,816 |
| Noncontrolling interest | 90 | 90 |
| Total equity | 12,143 | 10,906 |
| Total liabilities and shareholders’ equity | $133,479 | $118,675 |
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