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Reinsurance Group of America RGA Deferred Policy Acquisition Costs, Amortization Expense

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Segments

By product

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Life Insurance Product Line$93M+6.9%
Insurance, Other$35M+52.2%

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$15.49B+27.6%
Enterprise value$17.9B+29.1%
P/E12.6×-3.1×
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:DeferredPolicyAcquisitionCostAmortizationExpense.

The source filing: Reinsurance Group of America’s 10-Q, filed May 8, 2026.

Filed
May 8, 2026, 1:51 PM EDT
Fiscal quarter
Q1 FY2026
Calendar quarter
Q1 2026
Accession
0000898174-26-000025
Line itemThree months ended March 31, 20262025
Future policy benefits remeasurement (gains) losses(7)(56)
Market risk benefits remeasurement (gains) losses2229
Interest credited480299
Policy acquisition costs and other insurance expenses512417
Other operating expenses326300
Interest expense9980
Total benefits and expenses6,0534,891
Income before income taxes441369

Cover / Front Matter

FAQ

What is Reinsurance Group of America's deferred policy acquisition costs, amortization expense?
Reinsurance Group of America (RGA) reported deferred policy acquisition costs, amortization expense of $512M in Q1 2026.
How has Reinsurance Group of America's deferred policy acquisition costs, amortization expense changed year-over-year?
Reinsurance Group of America's deferred policy acquisition costs, amortization expense increased by 22.8% year-over-year, from $417M to $512M.
What is the long-term trend for Reinsurance Group of America's deferred policy acquisition costs, amortization expense?
Over 2 years (2023 to 2025), Reinsurance Group of America's deferred policy acquisition costs, amortization expense has grown at a 14.2% compound annual growth rate (CAGR), from $1.4B to $1.82B.
What does deferred policy acquisition costs, amortization expense mean?
This represents the systematic expensing of costs directly associated with acquiring new insurance contracts, such as commissions and underwriting fees, over the life of the policies. It aligns the recognition of acquisition expenses with the related premium revenue, reflecting the long-term nature of insurance contracts.

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