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Reinsurance Group of America, Incorporated(RZB)Earnings, Financials & Key Ratios
RZB•NYSE•Insurance & Managed Care
$25.34
1.4× P/E·Price updated Jul 2, 2026
AboutReinsurance Group of America, Inc. is a holding company, which engages in the provision of traditional and non-traditional life and health reinsurance products. It operates through the following segments: U.S. and Latin America, Canada, Europe, Middle East, and Africa, Asia Pacific, and Corporate and Other. The U.S. and Latin America segment markets individual and group life and health reinsurance to domestic clients for a variety of products through yearly renewable term agreements, coinsurance, and modified coinsurance. The Canada segment offers individual life reinsurance, and, to a lesser extent, creditor, group life and health, critical illness, and disability reinsurance, through yearly renewable term and coinsurance agreements. The Europe, Middle East, and Africa segment serves individual and group life and health products through yearly renewable term and coinsurance agreements, reinsurance of critical illness coverage that provides a benefit in the event of the diagnosis of a pre-defined critical illness, and underwritten annuities. The Asia Pacific segment consists of individual and group life and health reinsurance, critical illness coverage, disability, and superannuation through yearly renewable term and coinsurance agreements. The Corporate and Other segment consists of investment income from unallocated invested assets, investment related gains, and losses and service fees. The company was founded in 1973 and is headquartered in Chesterfield, MO.Show more
- Revenue$23.7B+7.2%
- Combined Ratio93.54%-2.4%
- Net Income$1.18B+64.9%
- Return on Equity9.67%+35.3%
- Medical Cost Ratio71.75%-6.2%
- Operating Margin6.5%+46.6%
- Net Margin4.99%+53.8%
- ROA0.86%+29.5%
- Equity / Assets8.65%-5.8%
RZB Price & Volume
Reinsurance Group of America, Incorporated (RZB) stock price & volume — 10-year historical chart
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Scale Expansion Masks Volatile Mortality Risk Exposure
Investment Thesis • Updated 2026Q1
VerdictNeutral
Growth:Mixed
Profitability:Moderate
Financial:Healthy
Cash Flow:Stable
Primary Risk:Actuarial assumption volatility
Key Thesis Takeaways
- Reinsurance Group of America has aggressively scaled its asset base from $97.6 billion in 2023Q4 to $164.1 billion by 2026Q1, though this growth introduces significant sensitivity to long-duration liability assumptions under new LDTI accounting standards.
- While the company maintains a disciplined combined ratio of 92.6% as of 2025Q4, investors should monitor the extreme divergence between operating income and net income, which reached a $5.9 billion gap in 2025Q3.
- The firm's reliance on complex mortality modeling and high-turnover investment strategies necessitates a cautious outlook regarding future reserve adequacy and earnings stability.
Verdict Logic
while the stock trades at a low 1.43 P/E TTM and offers a 14.1% dividend yield, the significant accounting noise and sensitivity to mortality shocks warrant a wait-and-see approach until earnings volatility stabilizes.
RZB Growth Metrics
Reinsurance Group of America, Incorporated (RZB) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR
Revenue CAGR
10 Years8.57%
5 Years10.18%
3 Years13.48%
TTM-12.32%
Profit CAGR
10 Years8.94%
5 Years23.29%
3 Years31.74%
TTM38.93%
EPS CAGR
10 Years9.02%
5 Years22.9%
3 Years32.3%
TTM13.18%
Return on Capital
10 Years1.4%
5 Years0.97%
3 Years1.09%
Last Year1.12%
RZB Recent Earnings
Reinsurance Group of America, Incorporated (RZB) EPS & revenue vs analyst estimates — last 4 quarters
●Beat EPS 1/12 qtrs (10%)●Beat Revenue 5/12 qtrs (50%)
Q1 2026Latest
Feb 5, 2026Metric
Actual
Est
EPS
$7.75+34.1%
$5.78
Rev
$6.6B+5.1%
$6.3B
Q4 2025
Oct 29, 2025Metric
Actual
Est
EPS
$3.78-34.4%
$5.76
Rev
$6.2B+2.0%
$6.1B
Q3 2025
Jul 30, 2025Metric
Actual
Est
EPS
$2.69-51.5%
$5.55
Rev
$5.6B-12.3%
$6.4B
Q2 2025
May 1, 2025Metric
Actual
Est
EPS
$0.00-99.9%
$5.31
Rev
$5M-7.6%
$6M
| Quarter | Date | EPS (Act vs Est) | Revenue (Act vs Est) |
|---|---|---|---|
| Q1 2026Latest | Feb 5, 2026 | $7.75vs $5.78+34.1% | $6.6Bvs $6.3B+5.1% |
| Q4 2025 | Oct 29, 2025 | $3.78vs $5.76-34.4% | $6.2Bvs $6.1B+2.0% |
| Q3 2025 | Jul 30, 2025 | $2.69vs $5.55-51.5% | $5.6Bvs $6.4B-12.3% |
| Q2 2025 | May 1, 2025 | $0.00vs $5.31-99.9% | $5Mvs $6M-7.6% |
Based on last 12 quarters of dataView full earnings history →
Peers Comparison
Key metrics vs top competitors for Reinsurance Group of America, Incorporated (RZB)
| Company | Price | Market Cap | P/E Ratio | Rev Growth (1Y) | Net Margin | ROE | Div Yield |
|---|---|---|---|---|---|---|---|
| $25.34 | $1.7B | 1.43 | 7.2% | 4.99% | 9.67% | 14.14% | |
| $87.20 | $56.86B | 18.17 | 10.22% | 4.7% | 12.72% | — | |
| $111.07 | $38.63B | 10.87 | -14.01% | 5.62% | 10.26% | — | |
| $36.23 | $6.93B | 6.20 | 1.24% | 9.14% | 16.79% | — | |
| $180.07 | $13.98B | 12.81 | 3.82% | 19.37% | 20.32% | — | |
| $52.07 | $4.86B | 22.16 | 0.94% | 5.44% | 9.56% | — |
Compare RZB vs Peers
Reinsurance Group of America, Incorporated (RZB) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
RZB SEC Filings & Documents
Reinsurance Group of America, Incorporated (RZB) SEC filings — annual & quarterly reports (10-K, 10-Q)
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RZB Frequently Asked Questions
Reinsurance Group of America, Incorporated (RZB) stock FAQ — growth, dividends, profitability & financials explained
Growth & Financials
How fast is Reinsurance Group of America, Incorporated growing?
Reinsurance Group of America, Incorporated (RZB) grew revenue by 7.2% over the past year. This is steady growth.
Is RZB profitable?
Yes, Reinsurance Group of America, Incorporated (RZB) is profitable, generating $896.3M in net income for fiscal year 2025 (5.0% net margin).
Dividend & Returns
Does RZB pay dividends?
Yes, Reinsurance Group of America, Incorporated (RZB) pays a dividend with a yield of 14.14%. This makes it attractive for income-focused investors.
What is RZB's return on equity?
Reinsurance Group of America, Incorporated (RZB) has a return on equity (ROE) of 9.7%. This is below average, suggesting room for improvement.
Industry Metrics
What is Reinsurance Group of America, Incorporated's combined ratio?
Reinsurance Group of America, Incorporated (RZB) has a combined ratio of 93.5%. A ratio below 100% indicates underwriting profitability.