Reinsurance Group Of America

What Reinsurance Group Of America does

Reinsurance Group of America, Incorporated (NYSE: RGA), founded in 1973 and headquartered in Chesterfield, Missouri, is the only global reinsurance company focused exclusively on life and health solutions. It serves primary insurers across 25 markets in the Americas, Asia Pacific, and EMEA through wholly-owned operating subsidiaries including RGA International Reinsurance Company dac (Ireland), RGA UK Services Limited, RGA Compagnie de réassurance-vie du Canada, and RGA ReCap Incorporated. RGA generates the majority of its revenue through net premiums written on long-term life and health reinsurance treaties, with Q1 2026 consolidated net premiums of $4.6 billion (+14.3% YoY). The company reported FY 2025 revenue of $23.94 billion and FY 2025 net income of $1.18 billion, up 64.9% year-over-year.

RGA's core offerings span Life and Health Risk Reinsurance, Financial Solutions (asset-intensive reinsurance including pension risk transfer and longevity transactions), Product Creation, Underwriting, Claims management, and Investment Capabilities. Its technology stack centers on the AURA data strategy for biometric insights and risk analytics, Rx scoring for prescription drug underwriting, digital underwriting solutions, and AI-driven risk assessment models for mortality and morbidity evaluation, with a bias-testing methodology co-developed with Ernst & Young LLP. The company launched Aspire in November 2024, a licensed third-party health insurance administration platform for medical portfolio management, and operates RGA Central as a client portal. RGA's investment organization oversees more than $157 billion in assets with a 5.23% average yield, supplementing premium income with investment returns.

RGA distributes reinsurance products exclusively through direct enterprise sales relationships with insurance company decision-makers via regional teams, with no direct-to-consumer channels. Pricing is quote-based and negotiated through actuarial analysis of biometric risks on multi-year contracts. The firm holds an AM Best A+ (Superior) financial strength rating across five subsidiaries and $3.4 billion in deployable capital. Recent marquee transactions include the $32 billion Equitable Holdings deal (July 2025), $5.4 billion Manulife Financial agreement, and a €1.4 billion Monument Re legacy portfolio acquisition, demonstrating capacity to execute large-scale, complex reinsurance transactions alongside its organic treaty book.

Name

Reinsurance Group Of America

Legal name

Reinsurance Group of America, Incorporated

Website

https://rgare.com

Company type

Public

Founded year

1973

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Reinsurance Group of America is the only global reinsurer focused exclusively on life and health solutions, serving primary insurers across 25 markets through long-term reinsurance treaties, financial solutions, underwriting, and investment management of a $157B asset portfolio.

Ownership category

akta.pro rank

Product category

Life and Health Reinsurance

NAICS

Direct Life, Health, and Medical Insurance Carriers (52411), Direct Life Insurance Carriers (524113)

SIC

Life Insurance (6311), Accident & Health Insurance (6321)

akta.pro primary industry

Life Reinsurance (Mortality) (FSAIANAA)

akta.pro secondary industry

Morbidity / Health Reinsurance (Medical & Disability) (FSAOAAAC)

Keywords

• Life reinsurance solutions
• Health reinsurance underwriting
• Pension risk transfer
• Asset-intensive reinsurance
• Longevity risk management

Headquarters

HQ city

Chesterfield

HQ country

United States

HQ region

North America

Offices5 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Personnel, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. Life and Health Reinsurance Premiums: RGA generates the majority of its revenue through net premiums written from life and health reinsurance contracts. Premiums are recurring in nature as long-term treaty relationships are maintained with ceding insurers. Q1 2026 consolidated net premiums totaled $4.6 billion, up 14.3% year-over-year.
2. Financial Solutions: Asset-intensive reinsurance and financial solutions including pension risk transfer (PRT) transactions, longevity reinsurance, and capital solutions. These generate fee income and investment results. The company deployed $2.5 billion into in-force transactions in 2025 and completed a landmark $32 billion transaction with Equitable Holdings.
3. Investment Income: RGA earns investment income on its investment portfolio, which totaled over $157 billion in assets. The company reported average investment yield of 5.23% and benefits from rising interest rates on its fixed-income portfolio.

Pricing tiers

Go-to-market motion1 record

Distribution channels1 record

Marketing channels5 records

Core offering

RGA provides global life and health reinsurance solutions to primary insurers, transferring mortality, morbidity, and longevity risk through long-term treaties. Core offerings include Life and Health Risk Reinsurance, Financial Solutions (pension risk transfer, longevity reinsurance, capital solutions), Product Creation, Underwriting, Claims management, and Investment Capabilities, supported by proprietary mortality databases, the AURA Data Strategy, and digital underwriting platforms across 25 markets.

Product overview

RGA operates as a global reinsurance company offering a comprehensive suite of life and health reinsurance solutions. The core offerings include Life and Health Risk Reinsurance, Financial Solutions (asset-intensive reinsurance), Product Creation, Underwriting, Claims management, and Investment Capabilities. RGA Central serves as the client-facing portal providing access to these services. In November 2024, RGA launched Aspire, a licensed third-party health insurance administration platform for medical portfolio management and claims processing. The company focuses exclusively on life and health solutions with operations spanning 25 markets globally.

Differentiator

Problem solved

Functional benefit

Products and services

• Life and Health Risk Reinsurance Core reinsurance solutions providing financial strength, global reach, and local insight to help primary insurers manage life and health reinsurance risks, enhance product portfolios, expand into new segments, meet regulatory requirements, and manage capital more efficiently.
• Financial Solutions Asset-intensive reinsurance and financial solutions including pension risk transfer (PRT), longevity reinsurance, and capital solutions that transfer investment and liability risk in long-duration portfolios, enabling insurers and pension plan sponsors to build resilience and optimize capital positions.
• Product Creation Collaborative product development services targeting new customer segments, insuring new risks, innovating in new distribution channels, and assimilating the latest technologies for insurance product innovation with ceding insurance partners.
• Underwriting Underwriting insights and innovations leveraging one of the largest mortality databases in the world combined with deep local market knowledge across 25 markets, providing risk assessment for life and health reinsurance underwriting decisions including Rx Scoring for prescription drug analysis.
• Claims Claims management expertise for life and health reinsurance, emphasizing stable long-term partnerships, technical proficiency, and demonstrated commitment to protecting honest policyholders through accurate and timely claim adjudication.
• Investment Capabilities Global investment organization overseeing more than $156.6 billion in assets, optimizing investment returns to support reinsurance operations and back asset-intensive reinsurance commitments with disciplined portfolio management.
• Aspire Licensed third-party health insurance administration platform designed to optimize medical portfolio management and claims processing for health insurers.
• RGA Central Convenient client portal providing single point of access to exclusive applications and insights for RGA customers.

Quantifiable outcome

• Q1 2026 revenue of $6.49 billion representing 23.46% year-over-year growth
• +3 more outcomes

Named customers4 records

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability4 records

Feature5 records

Partnerships

Eight partnerships are on record, tiered core, minor and flagship.

• International Insurance Society (IIS)coreGTM or Marketing Partner · 23 June 2026RGA continues as Gold Partner and sponsor of the RGA Leaders of Tomorrow program, supporting mentorship pairings, peer networking, and research presentation opportunities for emerging insurance executives. Culminates at the 62nd Global Insurance Forum in November 2026.
• Techcom Life InsurancecoreStrategic or Co-development Partner · 31 March 2026First-of-its-kind collaboration to develop Vietnam's life insurance market, combining Techcom Life's local market strengths with RGA's global expertise to increase accessibility, product quality, and market stability.
• SKB (ScanlanKemperBard)minorStrategic or Co-development Partner · 5 February 2026Joint venture through RGA ReCap Incorporated to acquire Columbia River Collection, an eight-building industrial campus with 513,000+ square feet along Columbia River corridor in Portland, Oregon.
• Ernst & Young LLP (EY US)coreTechnology or Integration · 23 January 2026Collaboration to develop AI methodology for testing models for bias and regulatory adherence in insurance applications. Resulted in a playbook that RGA has piloted and plans to expand across its models.
• FoxPath Capital PartnersminorStrategic or Co-development Partner · 15 October 2025Strategic long-term partnership with RGA providing strategic investment and multi-fund anchor commitment to support FoxPath's growth in private credit liquidity solutions.
• Equitable HoldingsflagshipStrategic or Co-development Partner · 1 July 2025Landmark $32 billion life reinsurance transaction transferring 75% of Equitable's in-force life insurance liabilities to RGA. Expected to contribute $160-170 million pretax operating income in 2026 and $200 million annually by 2027.
• Monument Re Ltd.minorStrategic or Co-development Partner · 2 May 2025Acquisition of €1.4 billion (US$1.5 billion) legacy life insurance portfolio comprising annuity and life insurance liabilities from Monument Re's 2020 GreyCastle acquisition.
• Manulife Financial Corp.coreStrategic or Co-development Partner · 21 November 2024$5.4 billion reinsurance agreement including $2.4 billion of long-term care reserves, releasing $800 million in capital for Manulife to return to shareholders through share buybacks.

Scale indicators14 records

Recent moves10 records

Expansion highlights7 records

Direct peers

• Swiss Re: Another top-three global reinsurer with a sizeable life and health reinsurance book. Swiss Re competes with RGA on treaty reinsurance, longevity swaps, and large in-force block transactions, and has overlapping geographic reach across the Americas, EMEA and Asia Pacific.
• SCOR SE: French global reinsurer with a dedicated Life & Health division serving primary insurers on mortality, longevity and health products. SCOR competes directly with RGA for treaty and facultative business across Europe, the Americas and Asia Pacific.
• PartnerRe: Global multi-line reinsurer (now owned by Covéa) with a life and health reinsurance book targeting similar primary insurer clients. PartnerRe competes on mortality, longevity and PRT transactions and overlaps with RGA in geographic footprint.
• Hannover Re: A leading global reinsurer with a strong life and health reinsurance franchise alongside P&C. Hannover Re is a frequent co-reinsurer and competitor on biometric risk transfer, longevity and PRT transactions, and is comparable in scale and product breadth within life reinsurance.
• Munich Re: The world's largest reinsurer and RGA's closest direct competitor in life and health reinsurance. Munich Re's life reinsurance division serves the same primary insurer clients globally with similar mortality, longevity and PRT products, competing head-to-head on mega-block transactions like Equitable.
• Gen Re (General Reinsurance Corporation): Berkshire Hathaway's reinsurance subsidiary and a major direct competitor in life and health reinsurance. Gen Re offers similar mortality and morbidity treaty products to the same primary insurer client base, and its parent backing makes it a frequent competitor on large block transactions.

Broad incumbents

• Everest Group: Large global reinsurer and insurance provider, predominantly focused on P&C and specialty lines but increasingly building reinsurance capacity adjacent to RGA's territory. Comparable as a global competitor for primary insurer relationships and capital.
• RenaissanceRe: Specialty reinsurer primarily in P&C and catastrophe lines, but relevant as a broader industry comparable for global reinsurance capital deployment, M&A appetite and balance-sheet strategy versus RGA's life and health focus.

Emerging players

• SiriusPoint: Bermuda-based global insurer and reinsurer with a growing life and accident & health book. Smaller and less specialized than RGA in life and health reinsurance but increasingly relevant as a competitor for facultative and specialty mortality/morbidity deals.

Others

• Pacific Life: U.S. primary life insurer with a meaningful reinsurance and longevity hedging operation through Pacific Life Re. Comparable as a life insurance market participant using biometric risk transfer, though positioned on the primary-insurer side of the table rather than competing with RGA as a pure reinsurer.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/RGAGlobal
• LinkedInlinkedin.com/company/248599
• Xx.com/rga_re

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 records

Subsidiaries4 records

Funding overview

Funding rounds3 records

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A3 records

Investments12 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Reinsurance Group Of America