Reinsurance Group of America (NYSE: RGA) is a life and health reinsurance company that assumes mortality, morbidity, and longevity risks from primary insurers in exchange for premium income. RGA earns money by collecting reinsurance premiums from ceding insurance companies and investing the float, with profits generated when claims paid and expenses fall below premiums collected plus investment income. The company operates across traditional life reinsurance, living benefits reinsurance, financial solutions, and facultative underwriting segments. Based in Chesterfield, Missouri, RGA serves cedents across North America, Europe, Asia Pacific, and other international markets, making it one of the larger dedicated life reinsurers globally. The 10-K filing dated February 20, 2026 (accession 000089817426000006) covers the fiscal year ended December 31, 2025. The filing does not provide sufficient segment revenue breakdowns or competitor names in the excerpts provided to support further quantitative detail here.

Revenue model

Reinsurance premiums collected from ceding insurers, supplemented by net investment income earned on the float. Profits depend on the spread between premiums plus investment returns and claims paid.

Products and services

Life reinsurance, health reinsurance, living benefits reinsurance, financial solutions reinsurance, facultative underwriting.

Customers and end markets

Primary life and health insurance companies (cedents) that transfer underwriting risk to RGA. End markets include individual life insurance, group life, health, and annuity markets.

Value-chain role

Reinsurer. Sits between primary insurers and capital markets, absorbing mortality, morbidity, and longevity risk from cedents.

Geographic exposure

North America, Europe, Asia Pacific, and other international markets, as indicated by the company's multi-segment international structure.

Source: SEC 10-K, filed 2026-02-20

Industry: Life Insurance Peers: ALLEGHANY CORP /DE