Reinsurance Group of America (RGA) FY2021 results: revenue $16.7 billion, up 14.1% on the year
Reinsurance Group of America Inc. (RGA) reported revenue of $16.7 billion for fiscal 2021, the year ended 31 December 2021, up 14.1% on the year before. Net income was $1.2 billion, up 181.9%, and diluted earnings per share $17.13. The figures are the company's own, from the 10-K it filed with the SEC on 25 February 2022.
Revenue
$16.7 billion
+14.1% on the year
FY2014FY2021
Operating margin
8.3%
3.8% a year earlier
FY2014FY2021
Net income
$1.2 billion
+181.9% on the year
FY2014FY2021
Diluted EPS
$17.13
+171.5% on the year
FY2014FY2021
this yearthe year beforeHover a bar for its figure.
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2021
FY2020
FY2019
On the year
Last 8 years
Operating cash flow
4,182
3,322
2,307
+25.9%
Capital expenditure
19.0
28.0
34.0
-32.1%
Free cash flow
4,163
3,294
2,273
+26.4%
Free cash flow margin
25.0%
22.6%
15.9%
Cash from investing
-4,628
-2,680
-2,638
Cash from financing
20.0
1,254
-121
-98.4%
Depreciation and amortisation
43.0
49.0
49.0
-12.2%
Share-based compensation
55.0
-12.0
39.0
Dividends paid
194
182
163
+6.6%
Dividend per share
$2.86
$2.80
$2.60
+2.1%
Diluted shares, weighted
68m
66m
64m
+3.8%
Shares outstanding at period end
n/a
n/a
63m
Balance sheet
$ million
FY2021
FY2020
FY2019
On the year
Last 8 years
Shareholders' equity
8,180
14,352
11,601
-43.0%
Non-controlling interest
0.0
0.0
0.0
Debt
3,667
3,573
2,981
+2.6%
Other liabilities
81,094
66,731
62,149
+21.5%
Total liabilities and equity
92,941
84,656
76,731
+9.8%
Goodwill
7.0
7.0
7.0
0.0%
Securities held for sale or to maturity
60,749
56,735
51,121
+7.1%
Cash and equivalents
2,927
2,948
3,408
-0.7%
Other assets
29,258
24,966
22,195
+17.2%
Total assets
92,941
84,656
76,731
+9.8%
10-K for the year ended 31 December 2021, filed 25 February 2022: the filing.