Reinsurance Group of America Posts 55% EPS Surge, $6.8B Revenues and 15% Premium Growth
Reinsurance Group of America reported Q4 adjusted operating EPS of $7.75, beating consensus by 32.3% and up 55.3% year over year. Operating revenues rose 23.4% to $6.8 billion, driven by 15% net premium growth to $4.8 billion and a 42.7% surge in investment income.
1. Fourth-Quarter Financial Results
Reinsurance Group of America reported Q4 adjusted operating earnings of $7.75 per share, a 55.3% year-over-year increase that beat consensus by 32.3%. Operating revenues climbed 23.4% to $6.8 billion, supported by a 42.7% jump in investment income and 15% net premium growth to $4.8 billion.
2. Segment Performance
Every major region delivered profit gains, led by a 59.4% jump in Asia/Pacific operating income, 60% growth in Canada and 43.2% in the U.S. and Latin America. EMEA pre-tax income rose 31.8%, while Corporate and Other posted a reduced $58 million loss.
3. Full-Year Financial Highlights
For 2025, adjusted operating earnings totaled $22.72 per share, up 13.3% year over year, with revenues of $23.9 billion slightly above targets. Net premiums were $17.2 billion, down 3.4% from 2024. Total assets expanded 32% to $156.6 billion, book value per share rose 8.8% to $164.66, and adjusted ROE reached 14.7%.
4. Capital Deployment and Dividends
The company invested $2.5 billion in in-force block transactions, including $1.5 billion with Equitable subsidiaries. It repurchased $50 million in Q4, $125 million in 2025 and launched a new $500 million buyback. The board declared a quarterly dividend of $0.93 per share.