REINSURANCE GROUP OF AMERICA INC

RGA, RZB, RZC · Life Insurance · 65.5M shares · +1%/yr ↑ shares · EDGAR filings ↗

Net buyback after stock comp: $181M (gross $227M, SBC $46M)

Reference price $214.95 · est. market cap ~$14.1B — last insider sale, 2026-05-20 (estimated from the dated SEC Form 4 price × shares outstanding — not a live quote)

Grade

B71

Reinsurance Group of America — large, diversified life reinsurer.

Strengths

Strong ROA percentile (81st), revenue +282%
Global, diversified mortality/longevity book

Risks

Net margin 5% (38th) thin
Mortality/assumption and rate sensitivity

Notable findings

Exec changeRecent 8-K item 5.02 8-K ↗
Strong balance sheetStrong balance sheet — $4.2B cash & investments
Insider sellingInsider selling — 3 open-market sale(s) by 2 insider(s) (cluster of 2 insiders, ~$2M, last 6mo) Form 4 ↗

Quarterly revenue

2025-06-30 · $5.6B2025-09-30 · $6.2B2025-12-31 · $6.6B2026-03-31 · $6.5B

Last 4 quarters · from SEC filings.

Key metrics

Net margin

5.0%

Return on equity

8.8%

Return on assets

0.8%

Revenue growth (QoQ)

-2.1%

Net-income growth

64.9%

Debt / equity

0.4×

Tangible book value

$13.5B

Cash & investments

$4.2B

Stock comp / revenue

0.2%

Insider transactions · last 18 months

Date	Insider	Type	Shares	Price
2026-05-20	Hayden John W.	Option exercise	1.9K	$129.80
2026-05-20	Hayden John W.	Tax withheld	1.5K	$214.95
2026-05-20	Hayden John W.	Sell	414	$214.95
2026-05-20	Guinn Patricia Lynn	Grant	817	$214.13
2026-05-20	Babej Peter	Grant	613	$214.13
2026-05-14	HERRMANN RONALD	Sell	6.8K	$210.56
2026-05-14	HERRMANN RONALD	Sell	170	$211.28
2026-03-12	Cockrill Laura	Option exercise	1.1K	$205.00
2026-03-12	Cockrill Laura	Tax withheld	314	$205.00
2026-03-12	Ozeki Arthur	Option exercise	2.7K	$205.00
2026-03-12	Hayden John W.	Option exercise	2.3K	$205.00
2026-03-12	Hayden John W.	Tax withheld	656	$205.00
2026-03-12	PORTER JONATHAN	Option exercise	5.5K	$205.00
2026-03-12	PORTER JONATHAN	Tax withheld	2.9K	$205.00
2026-03-12	CHENG TONY KIN SHUN	Option exercise	17K	$205.00
2026-03-12	CHENG TONY KIN SHUN	Tax withheld	6.7K	$205.00
2026-03-12	HERRMANN RONALD	Option exercise	6.6K	$205.00
2026-03-12	HERRMANN RONALD	Tax withheld	2.9K	$205.00
2026-03-12	BARBI LESLIE	Option exercise	8.4K	$205.00
2026-03-12	BARBI LESLIE	Tax withheld	4.0K	$205.00
2026-03-12	Wainwright Simon	Option exercise	2.2K	$205.00
2026-03-12	Wainwright Simon	Tax withheld	1.1K	$205.00
2026-03-12	Galvin Cormac	Option exercise	1.5K	$205.00
2026-03-12	Galvin Cormac	Tax withheld	704	$205.00
2026-03-12	Kleeman Raymond	Option exercise	4.6K	$205.00
2026-03-12	Kleeman Raymond	Tax withheld	2.0K	$205.00
2026-02-11	PORTER JONATHAN	Option exercise	722	$129.72
2026-02-11	PORTER JONATHAN	Tax withheld	388	$220.70
2026-02-11	PORTER JONATHAN	Option exercise	602	$150.87
2026-02-11	PORTER JONATHAN	Tax withheld	162	$220.70
2026-02-11	HERRMANN RONALD	Option exercise	2.4K	$106.53
2026-02-11	HERRMANN RONALD	Tax withheld	715	$220.70
2026-02-10	Wainwright Simon	Option exercise	2.7K	$93.53
2026-02-10	Wainwright Simon	Tax withheld	716	$217.51
2026-02-10	CHENG TONY KIN SHUN	Option exercise	4.2K	$93.53
2026-02-10	CHENG TONY KIN SHUN	Tax withheld	1.8K	$217.51
2026-01-20	PORTER JONATHAN	Option exercise	389	—
2026-01-20	PORTER JONATHAN	Tax withheld	209	$196.73
2026-01-20	PORTER JONATHAN	Option exercise	404	—
2026-01-20	PORTER JONATHAN	Tax withheld	217	$196.73
2026-01-20	PORTER JONATHAN	Option exercise	1.2K	—
2026-01-20	PORTER JONATHAN	Tax withheld	627	$196.73
2026-01-20	BARBI LESLIE	Option exercise	522	—
2026-01-20	BARBI LESLIE	Tax withheld	201	$196.73
2026-01-20	BARBI LESLIE	Option exercise	526	—
2026-01-20	BARBI LESLIE	Tax withheld	159	$196.73
2026-01-20	BARBI LESLIE	Option exercise	1.7K	—
2026-01-20	BARBI LESLIE	Tax withheld	521	$196.73
2026-01-15	Kleeman Raymond	Option exercise	308	—
2026-01-15	Kleeman Raymond	Tax withheld	106	$196.73
2026-01-15	Kleeman Raymond	Option exercise	310	—
2026-01-15	Kleeman Raymond	Tax withheld	91	$196.73
2026-01-15	Kleeman Raymond	Option exercise	976	—
2026-01-15	Kleeman Raymond	Tax withheld	305	$196.73
2026-01-15	Galvin Cormac	Option exercise	101	—
2026-01-15	Galvin Cormac	Tax withheld	48	$196.73
2026-01-15	Galvin Cormac	Option exercise	95	—
2026-01-15	Galvin Cormac	Tax withheld	45	$196.73
2026-01-15	Galvin Cormac	Option exercise	321	—
2026-01-15	Galvin Cormac	Tax withheld	151	$196.73
2026-01-15	To My Chi	Grant	647	—
2026-01-15	To My Chi	Tax withheld	268	—
2026-01-15	Ozeki Arthur	Option exercise	232	—
2026-01-15	Ozeki Arthur	Option exercise	153	—
2026-01-15	Ozeki Arthur	Option exercise	576	—
2026-01-15	Andre Axel	Option exercise	1.0K	—
2026-01-15	Andre Axel	Tax withheld	330	$196.73
2026-01-15	Andre Axel	Option exercise	1.4K	—
2026-01-15	Andre Axel	Tax withheld	393	$196.73
2026-01-15	Wainwright Simon	Option exercise	187	—
2026-01-15	Wainwright Simon	Tax withheld	88	$196.73
2026-01-15	Wainwright Simon	Option exercise	129	—
2026-01-15	Wainwright Simon	Tax withheld	61	—
2026-01-15	Wainwright Simon	Option exercise	480	—
2026-01-15	Wainwright Simon	Tax withheld	226	$196.73
2026-01-15	Hayden John W.	Option exercise	123	—
2026-01-15	Hayden John W.	Tax withheld	43	$196.73
2026-01-15	Hayden John W.	Option exercise	124	—
2026-01-15	Hayden John W.	Tax withheld	52	$196.73
2026-01-15	Hayden John W.	Option exercise	463	—
2026-01-15	Hayden John W.	Tax withheld	194	$196.73
2026-01-15	BROOKS MARK J	Option exercise	306	—
2026-01-15	BROOKS MARK J	Tax withheld	106	$196.73
2026-01-15	BROOKS MARK J	Option exercise	309	—
2026-01-15	BROOKS MARK J	Tax withheld	107	$196.73
2026-01-15	Cockrill Laura	Option exercise	112	—
2026-01-15	Cockrill Laura	Tax withheld	39	$196.73
2026-01-15	Cockrill Laura	Option exercise	89	—
2026-01-15	Cockrill Laura	Tax withheld	31	$196.73
2026-01-15	Cockrill Laura	Option exercise	231	—
2026-01-15	Cockrill Laura	Tax withheld	80	$196.73
2026-01-15	HERRMANN RONALD	Option exercise	665	—
2026-01-15	HERRMANN RONALD	Tax withheld	225	—
2026-01-15	HERRMANN RONALD	Option exercise	607	—
2026-01-15	HERRMANN RONALD	Tax withheld	251	—
2026-01-15	HERRMANN RONALD	Option exercise	1.4K	—
2026-01-15	HERRMANN RONALD	Tax withheld	560	—
2025-12-03	HERRMANN RONALD	Other	3.9K	—
2025-12-03	HERRMANN RONALD	Other	3.9K	—
2025-12-01	HERRMANN RONALD	Option exercise	7.0K	—
2025-12-01	HERRMANN RONALD	Tax withheld	3.1K	$192.69
2025-05-21	Guinn Patricia Lynn	Grant	810	$203.75
2025-05-21	TRAN KHANH T	Grant	810	$203.75
2025-03-14	HERRMANN RONALD	Grant	7.0K	$186.01
2025-03-14	HERRMANN RONALD	Tax withheld	3.1K	$186.01
2025-03-14	CHENG TONY KIN SHUN	Grant	7.1K	$186.01
2025-03-14	CHENG TONY KIN SHUN	Tax withheld	1.4K	$186.01
2025-03-14	Ozeki Arthur	Grant	3.5K	$186.01
2025-03-14	Kleeman Raymond	Grant	5.2K	$186.01
2025-03-14	Kleeman Raymond	Tax withheld	2.3K	$186.01
2025-03-14	Hayden John W.	Grant	2.9K	$186.01
2025-03-14	Hayden John W.	Tax withheld	1.1K	$186.01
2025-03-14	PORTER JONATHAN	Grant	4.9K	$186.01
2025-03-14	PORTER JONATHAN	Tax withheld	2.6K	$186.01
2025-03-14	BARBI LESLIE	Grant	11K	$186.01
2025-03-14	BARBI LESLIE	Tax withheld	4.9K	$186.01
2025-03-14	Wainwright Simon	Grant	3.0K	$186.01
2025-03-14	Wainwright Simon	Tax withheld	1.4K	$186.01
2025-03-14	HUTTON WILLIAM L	Grant	4.1K	$186.01
2025-03-14	HUTTON WILLIAM L	Tax withheld	1.8K	$186.01
2025-01-21	CHENG TONY KIN SHUN	Option exercise	1.8K	—
2025-01-21	CHENG TONY KIN SHUN	Tax withheld	301	$223.86
2025-01-21	PORTER JONATHAN	Option exercise	1.2K	—
2025-01-21	PORTER JONATHAN	Tax withheld	665	$223.86
2025-01-21	PORTER JONATHAN	Option exercise	404	—
2025-01-21	PORTER JONATHAN	Tax withheld	217	$223.86
2025-01-16	Kleeman Raymond	Option exercise	1.3K	—
2025-01-16	Kleeman Raymond	Tax withheld	415	$223.86
2025-01-16	Kleeman Raymond	Option exercise	310	—
2025-01-16	Kleeman Raymond	Tax withheld	91	$223.86
2025-01-16	BROOKS MARK J	Option exercise	308	—
2025-01-16	BROOKS MARK J	Tax withheld	106	$223.86
2025-01-16	HERRMANN RONALD	Option exercise	1.8K	—
2025-01-16	HERRMANN RONALD	Tax withheld	538	$223.86
2025-01-16	HERRMANN RONALD	Option exercise	607	—
2025-01-16	HERRMANN RONALD	Tax withheld	175	$223.86
2025-01-16	HUTTON WILLIAM L	Option exercise	1.0K	—
2025-01-16	HUTTON WILLIAM L	Tax withheld	331	$223.86
2025-01-16	HUTTON WILLIAM L	Option exercise	170	—
2025-01-16	HUTTON WILLIAM L	Tax withheld	50	$223.86
2025-01-16	Andre Axel	Option exercise	686	—
2025-01-16	Andre Axel	Tax withheld	224	$223.86
2025-01-16	Wainwright Simon	Option exercise	756	—
2025-01-16	Wainwright Simon	Tax withheld	356	$223.86
2025-01-16	Wainwright Simon	Option exercise	129	—
2025-01-16	Wainwright Simon	Tax withheld	61	$223.86
2025-01-16	BARBI LESLIE	Option exercise	2.8K	—
2025-01-16	BARBI LESLIE	Tax withheld	847	$223.86
2025-01-16	BARBI LESLIE	Option exercise	526	—
2025-01-16	BARBI LESLIE	Tax withheld	153	$223.86
2025-01-16	Ozeki Arthur	Option exercise	891	—
2025-01-16	Ozeki Arthur	Option exercise	153	—
2025-01-16	Hayden John W.	Option exercise	746	—
2025-01-16	Hayden John W.	Tax withheld	249	$223.86
2025-01-16	Hayden John W.	Option exercise	124	—
2025-01-16	Hayden John W.	Tax withheld	37	$223.86

All non-derivative Form 4 activity (SEC), newest first.

Supply chain

Customers (2)

Suppliers (0)

Named in the 10-K; linked when we track them.

Notable events (8-K)

Date	Items
2026-06-22	Exec/director changeReg FDExhibits	filing ↗
2026-05-21	Exec/director changeShareholder voteExhibits	filing ↗
2026-05-07	ResultsReg FDExhibits	filing ↗
2026-05-01	OtherExhibits	filing ↗
2026-03-20	Exec/director change	filing ↗
2026-03-19	Exec/director changeReg FDExhibits	filing ↗
2026-03-03	Material agreementDebt obligationOtherExhibits	filing ↗
2026-02-05	ResultsReg FDExhibits	filing ↗

Recent filings

Form	Filed	Period	Accession
8-K	2026-06-22	2026-06-15	0001193125-26-276808 ↗
8-K	2026-05-21	2026-05-20	0001193125-26-234445 ↗
10-Q	2026-05-08	2026-03-31	0000898174-26-000025 ↗
8-K	2026-05-07	2026-05-05	0000898174-26-000022 ↗
8-K	2026-05-01	2026-05-01	0001193125-26-201509 ↗
8-K	2026-03-20	2026-03-20	0001193125-26-117615 ↗
8-K	2026-03-19	2026-03-19	0001193125-26-115964 ↗
8-K	2026-03-03	2026-03-03	0001193125-26-088164 ↗
10-K	2026-02-20	2025-12-31	0000898174-26-000006 ↗
8-K	2026-02-05	2026-02-03	0000898174-26-000003 ↗
8-K	2025-12-03	2025-12-01	0001193125-25-306028 ↗
10-Q	2025-10-31	2025-09-30	0000898174-25-000137 ↗