Reinsurance Group Of America Inc key statistics and ratios
In fiscal 2025, Reinsurance Group Of America Inc had return on equity of 9.7%, a net margin of 5.0% and debt equal to 42.7% of equity. Each ratio below is calculated from the figures on its income statement, balance sheet and cash flow pages.
Financial ratios
| Fiscal year | 2009Dec 2009 | 2010Dec 2010 | 2011Dec 2011 | 2012Dec 2012 | 2013Dec 2013 | 2014Dec 2014 | 2015Dec 2015 | 2016Dec 2016 | 2017Dec 2017 | 2018Dec 2018 | 2019Dec 2019 | 2020Dec 2020 | 2021Dec 2021 | 2022Dec 2022 | 2023Dec 2023 | 2024Dec 2024 | 2025Dec 2025 | LTMJun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net margin | 5.8% | 6.5% | 6.2% | 6.4% | 4.1% | 6.3% | 4.8% | 6.1% | 14.6% | 5.6% | 6.1% | 2.8% | 7.0% | 3.2% | 4.9% | 3.2% | 5.0% | 5.8% |
| Free-cash-flow margin | — | — | — | 20.1% | 16.7% | 20.6% | 19.8% | 12.3% | 15.5% | 12.1% | 15.9% | 22.6% | 25.0% | 8.1% | 21.8% | 42.4% | 17.3% | 11.5% |
| Return on equity | 11.2% | 12.7% | 10.3% | 9.9% | 6.5% | 10.6% | 7.6% | 10.6% | 21.9% | 7.9% | 8.7% | 3.2% | 10.4% | 6.8% | 11.2% | 7.2% | 9.7% | 11.1% |
| Return on assets | 1.6% | 2.0% | 1.8% | 1.8% | 1.0% | 1.6% | 1.1% | 1.4% | 3.2% | 1.1% | 1.2% | 0.5% | 1.3% | 0.6% | 1.0% | 0.7% | 0.9% | 0.9% |
| Asset turnover | 0.28 | 0.30 | 0.29 | 0.27 | 0.26 | 0.26 | 0.22 | 0.22 | 0.22 | 0.21 | 0.20 | 0.18 | 0.19 | 0.18 | 0.20 | 0.20 | 0.17 | 0.16 |
| Debt to equity | 33.4% | 21.3% | 24.3% | 26.3% | 37.3% | 33.0% | 37.7% | 43.9% | 29.3% | 33.2% | 25.9% | 25.1% | 45.2% | 56.4% | 49.2% | 47.0% | 42.7% | 41.7% |
| Effective tax rate | 31.3% | 33.5% | 28.5% | 31.3% | 34.1% | 32.2% | 32.6% | 32.8% | — | 15.4% | 23.1% | 25.0% | 15.5% | 27.4% | 21.6% | 26.1% | 22.8% | 19.2% |
| Capital spending as % of revenue | — | — | — | 0.0% | 0.0% | 0.8% | 0.2% | 0.4% | 0.4% | 0.2% | 0.2% | 0.2% | 0.1% | 0.2% | 0.0% | 0.0% | 0.0% | 0.0% |
| Free cash flow ÷ net income | — | — | — | 312.5% | 412.4% | 328.6% | 411.2% | 202.6% | 106.4% | 216.8% | 261.3% | 793.7% | 355.8% | 254.9% | 448.3% | >999% | 346.1% | 197.5% |
| Dividends ÷ net income | 6.4% | 6.6% | 8.1% | 9.8% | 18.5% | 12.8% | 18.6% | 14.3% | 6.4% | 19.6% | 18.7% | 43.9% | 16.6% | 39.7% | 24.3% | 31.9% | 20.3% | 16.2% |
| Dividends and buybacks ÷ free cash flow | — | — | — | 3.5% | 20.1% | 12.8% | 23.1% | 15.7% | 8.3% | 28.4% | 11.6% | 10.5% | 7.0% | 21.7% | 11.0% | 2.7% | 10.1% | 17.6% |
| Quarter | 2024 Q3Sept 2024 | 2024 Q4Dec 2024 | 2025 Q1Mar 2025 | 2025 Q2Jun 2025 | 2025 Q3Sept 2025 | 2025 Q4Dec 2025 | 2026 Q1Mar 2026 | 2026 Q2Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Net margin | 2.8% | 2.9% | 5.4% | 3.2% | 4.1% | 7.0% | 5.1% | 7.0% |
| Free-cash-flow margin | −18.9% | 327.0% | −27.2% | −14.6% | −16.0% | 110.5% | −44.2% | −7.3% |
| Debt to equity | 45.5% | 46.6% | 50.3% | 47.6% | 44.2% | 42.4% | 45.9% | 41.7% |
Moat
Moderate moat
How hard Reinsurance Group Of America's competitive advantage looks for rivals to wear away, judged from 10 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.
- Returns on capital 9 / 20
Net income has been a median 0.8% of total assets over 10 years.
- Durability 8 / 20
Net margin has been a median 4.6%; its worst year was 2.7%.
- Discipline 18 / 20
The diluted share count fell 2.9% over five years; stock-based pay has been a median 0.2% of revenue.
AI disruption exposure: Medium. In this industry, AI could change how the product is made or sold, without replacing the core asset. The score above includes a 5-point deduction for that exposure (59 before it).
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