REINSURANCE GROUP OF AMERICA INC
For the period ended Dec 31, 2025. Filed Feb 20, 2026.
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FY2025 · Filed Feb 20, 2026
RGA$266.75+1.9%Stored close · as of Nov 9, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Consolidated Balance Sheets
(in millions, except share data)
| December 31,2025 | December 31,2024 | |
|---|---|---|
| Assets | ||
| Fixed maturity securities available-for-sale at fair value (amortized cost of $107,264 and $82,907; allowance for credit losses of $210 and $98) | $101,769 | $77,617 |
| Equity securities, at fair value | 311 | 155 |
| Mortgage loans (net of allowance for credit losses of $117 and $93) | 11,104 | 8,839 |
| Policy loans | 3,541 | 1,321 |
| Funds withheld at interest | 8,149 | 5,436 |
| Limited partnerships and real estate joint ventures | 3,747 | 3,067 |
| Short-term investments | 346 | 363 |
| Other invested assets | 1,514 | 1,242 |
| Total investments | 130,481 | 98,040 |
| Cash and cash equivalents | 4,168 | 3,326 |
| Accrued investment income | 1,296 | 986 |
| Premiums receivable and other reinsurance balances | 4,475 | 3,898 |
| Reinsurance ceded receivables and other | 7,175 | 5,531 |
| Deferred policy acquisition costs and other | 6,079 | 5,543 |
| Other assets | 2,916 | 1,351 |
| Total assets | $156,590 | $118,675 |
| Liabilities and Equity | ||
| Future policy benefits | $66,425 | $53,368 |
| Interest-sensitive contract liabilities | 52,095 | 35,095 |
| Market risk benefits, at fair value | 234 | 223 |
| Other policy claims and benefits | 3,011 | 2,693 |
| Other reinsurance balances | 1,888 | 1,316 |
| Income taxes | 2,998 | 2,199 |
| Funds withheld payable | 6,805 | 5,017 |
| Other liabilities | 3,873 | 2,816 |
| Long-term debt | 5,710 | 5,042 |
| Total liabilities | 143,039 | 107,769 |
| Commitments and contingent liabilities (See Note 17) | ||
| 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;shares issued: 85,310,598 at both December 31, 2025 and December 31, 2024) | 1 | 1 |
| Additional paid-in-capital | 2,640 | 2,600 |
| Retained earnings | 10,151 | 9,255 |
| Treasury stock, at cost – 19,846,934 and 19,438,336 shares at December 31, 2025 and December 31, 2024 | (2,013) | (1,889) |
| Accumulated other comprehensive income (loss) | 2,682 | 849 |
| Total Reinsurance Group of America, Inc. shareholders’ equity | 13,461 | 10,816 |
| Noncontrolling interest | 90 | 90 |
| Total equity | 13,551 | 10,906 |
| Total liabilities and equity | $156,590 | $118,675 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.