Reinsurance Group of America (RGA) FY2022 results: revenue $16.3 billion, down 2.4% on the year
Reinsurance Group of America Inc. (RGA) reported revenue of $16.3 billion for fiscal 2022, the year ended 31 December 2022, down 2.4% on the year before. Net income was $517 million, down 55.8%, and diluted earnings per share $7.64. The figures are the company's own, from the 10-K it filed with the SEC on 24 February 2023.
Revenue
$16.3 billion
-2.4% on the year
FY2015FY2022
Operating margin
4.6%
8.3% a year earlier
FY2015FY2022
Net income
$517 million
-55.8% on the year
FY2015FY2022
Diluted EPS
$7.64
-55.4% on the year
FY2015FY2022
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
FY2022
FY2021
FY2020
On the year
Last 8 years
Operating cash flow
1,343
4,182
3,322
-67.9%
Capital expenditure
25.0
19.0
28.0
+31.6%
Free cash flow
1,318
4,163
3,294
-68.3%
Free cash flow margin
8.1%
25.0%
22.6%
Cash from investing
-5,688
-4,628
-2,680
Cash from financing
4,436
20.0
1,254
+22,080.0%
Depreciation and amortisation
38.0
43.0
49.0
-11.6%
Share-based compensation
45.0
55.0
-12.0
-18.2%
Dividends paid
205
194
182
+5.7%
Dividend per share
$3.06
$2.86
$2.80
+7.0%
Diluted shares, weighted
68m
68m
66m
-0.9%
Balance sheet
$ million
FY2022
FY2021
FY2020
On the year
Last 8 years
Shareholders' equity
7,081
8,180
14,352
-13.4%
Non-controlling interest
90.0
0.0
0.0
Debt
3,961
3,667
3,573
+8.0%
Other liabilities
73,772
81,094
66,731
-9.0%
Total liabilities and equity
84,904
92,941
84,656
-8.6%
Goodwill
7.0
7.0
7.0
0.0%
Securities held for sale or to maturity
52,901
60,749
56,735
-12.9%
Cash and equivalents
2,927
2,927
2,948
0.0%
Other assets
29,069
29,258
24,966
-0.6%
Total assets
84,904
92,941
84,656
-8.6%
10-K for the year ended 31 December 2022, filed 24 February 2023: the filing.