Reinsurance Group of America (RGA) has reported net income available to shareholders of $463m in the fourth quarter (Q4) of 2025, up from $148m in the same period a year earlier.
Earnings per diluted share were $6.97 in the three months to December 2025, compared with $2.22 in Q4 2024.
Access deeper industry intelligence
Experience unmatched clarity with a single platform that combines unique data, AI, and human expertise.
The reinsurer’s adjusted operating income reached $515m, an increase from $334m in the prior-year quarter.
Total net premiums for the quarter were $4.8bn, a rise of 15% from the previous year’s fourth quarter, including a positive foreign currency impact of $42m.
The US Financial Solutions business contributed about $200m to net premiums from single premium pension risk transfer transactions, compared to around $150m in the prior year.
By segment, net premiums of US and Latin America reached $2.1bn in Q4, Canada was $347m, EMEA stood at $583m, and Asia Pacific reported $862m.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalDataRGA president and CEO Tony Cheng said: “A very strong fourth quarter capped off another year of excellent financial results. This was another quarter with positive contributions from most of our business segments, demonstrating the strength and diversity of our global platform and local teams.
“Taking a step back, it is important to view our results in the context of a longer-term journey and relative to our intermediate-term financial targets. Since the beginning of our most recent strategy cycle in 2023, our financial metrics are tracking at or ahead of our targets, giving us further confidence that we will meet or exceed the established goals.”
For the full year 2025, net income available to shareholders was $1.18bn, up 64.9% from $717m in the previous year.
Earnings per diluted share were $17.69, compared with $10.73 a year earlier.
Adjusted operating income for the year totalled $1.52bn, compared with $1.34bn in 2024.
In January 2026, RGA’s board approved a share repurchase programme authorising buybacks of up to $500m of the company’s common stock.
Cheng added: “Looking forward, there are plenty of reasons for optimism, and I believe that we are well-positioned for continued success. Our balance sheet is strong, business conditions are favourable, and we have a proven strategy that I expect to result in attractive financial results over time.”
