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Reinsurance Group of America RGA Change in benefits payable

Change in benefits payable at other companies

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$5.28M+9.6%

Other financials

Income statement

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Revenue$6.5B+23.5%
Net income$330.0M+15.4%
EPS (diluted)$4.98+16.6%

Balance sheet

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Cash & equivalents$5.0B-3.1%
Total debt$7.4B+5.3%
Total equity$13.3B+16.6%
Total assets$164.06B+28.0%

Cash flow

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Operating cash flow-$2.9B-101%
CapEx$84.0M+1,150%
Free cash flow-$3.0B-106%

Valuation

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Market cap$13.79B+3.0%
Enterprise value$16.21B+6.1%
P/E11.2×-5.6×
P/S0.6×-0.1×

Profitability

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Net margin4.9%+1.1pp
FCF margin9.2%-55.7pp

Returns & leverage

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Return on equity9.9%+2.3pp
Debt / equity0.6×-0.1×

Where this comes from

Reported directly by Reinsurance Group of America in its filing.

Tagged under the XBRL concept us-gaap:IncreaseDecreaseInOtherPolicyholderFunds.

The official record: Reinsurance Group of America’s 10-K, filed February 20, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Reinsurance Group of America's change in benefits payable?
Reinsurance Group of America (RGA) reported change in benefits payable of $1.09B in Q4 2025.
How has Reinsurance Group of America's change in benefits payable changed year-over-year?
Reinsurance Group of America's change in benefits payable decreased by 50.7% year-over-year, from $2.2B to $1.09B.
What is the long-term trend for Reinsurance Group of America's change in benefits payable?
Over 4 years (2021 to 2025), Reinsurance Group of America's change in benefits payable has grown at a 4.0% compound annual growth rate (CAGR), from $3.72B to $4.35B.
What does change in benefits payable mean?
The change in the amount of insurance claims and benefits owed to policyholders.
How do you interpret change in benefits payable?
An increase indicates rising claim obligations, which may be due to business growth or higher loss experience.
How does change in benefits payable compare across companies?
Standard liability metric for all insurance and healthcare plan providers.