Reinsurance Group Posts Q4 EPS of $7.75, 23% Revenue Gain and $500M Buyback
Reinsurance Group of America reported Q4 adjusted operating earnings of $7.75 per share, 32.3% above estimates, on $6.8 billion in revenues, up 23.4% year-over-year with net premiums climbing 15% to $4.8 billion. The board authorized a $500 million share buyback and declared a $0.93 quarterly dividend.
1. Q4 Financial Performance
Reinsurance Group delivered adjusted operating earnings of $7.75 per share in Q4 2025, a 55.3% year-over-year increase and 32.3% above consensus. Operating revenues rose 23.4% to $6.8 billion, driven by a 15% increase in net premiums to $4.8 billion and a 42.7% jump in investment income to $1.7 billion, with average yield up to 5.2%.
2. Segment and Regional Results
U.S. and Latin America pre-tax operating income jumped 43.2% to $325 million, while Asia/Pacific surged 59.4% to $204 million. Canada and EMEA also posted double-digit income and premium gains, offset by a $58 million pre-tax loss in Corporate and Other due to higher expenses and financing costs.
3. Capital Deployment and Returns
The board approved a new $500 million share repurchase program effective immediately, replacing the 2024 authorization, after deploying $125 million in buybacks during 2025. Reinsurance Group also invested $2.5 billion in in-force block transactions and declared a $0.93 quarterly dividend payable March 3, 2026.