Earnings Releases·Nov 5, 2026, 4:21 PM ET

Reinsurance Group of America — Third Quarter 2026 Earnings Summary

Net income available to RGA shareholders rose 80.2% year-over-year to $456 million ($6.92 per share), while adjusted operating income increased 80.0% to $558 million ($8.49 per share), driven by a 25.0% surge in net premiums to $5.352 billion.
Total assets grew to $169.52 billion and return on equity reached 13.1% (adjusted operating ROE of 19.2%), supported by a 17.5% increase in investment income excluding spread-based businesses and favorable claims experience across most regions.
Management expressed confidence in delivering strong results for the remainder of 2026 and beyond, citing a healthy pipeline for in-force and flow business alongside a disciplined capital deployment strategy.
The company returned $139 million to shareholders during the quarter via $75 million in share repurchases and $64 million in dividends, with the Board declaring a regular quarterly dividend of $0.98 payable December 1, 2026.
The effective tax rate on adjusted operating income was 24.1%, exceeding the expected 22-23% range due to jurisdictional mix and an increased valuation allowance, while net foreign currency fluctuations reduced net income by $0.11 per share.