Reinsurance Group of America (RGA) FY2024 results: revenue $22.1 billion, up 19.1% on the year
Reinsurance Group of America Inc. (RGA) reported revenue of $22.1 billion for fiscal 2024, the year ended 31 December 2024, up 19.1% on the year before. Net income was $717 million, down 20.5%, and diluted earnings per share $10.73. The figures are the company's own, from the 10-K it filed with the SEC on 21 February 2025.
Revenue
$22.1 billion
+19.1% on the year
FY2017FY2024
Operating margin
4.4%
6.2% a year earlier
FY2017FY2024
Net income
$717 million
-20.5% on the year
FY2017FY2024
Diluted EPS
$10.73
-20.2% on the year
FY2017FY2024
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
FY2024
FY2023
FY2022
On the year
Last 8 years
Operating cash flow
9,370
4,044
1,343
+131.7%
Capital expenditure
28.0
n/a
25.0
Free cash flow
9,342
n/a
1,318
Free cash flow margin
42.3%
n/a
8.1%
Cash from investing
-12,545
-4,066
-5,688
Cash from financing
3,661
78.0
4,436
+4,593.6%
Depreciation and amortisation
46.0
41.0
38.0
+12.2%
Share-based compensation
60.0
46.0
45.0
+30.4%
Dividends paid
229
219
205
+4.6%
Dividend per share
$3.48
$3.30
$3.06
+5.5%
Diluted shares, weighted
67m
67m
68m
-0.3%
Balance sheet
$ million
FY2024
FY2023
FY2022
On the year
Last 8 years
Shareholders' equity
10,816
9,081
7,081
+19.1%
Non-controlling interest
90.0
90.0
90.0
0.0%
Debt
5,042
4,427
3,961
+13.9%
Other liabilities
102,727
84,025
73,772
+22.3%
Total liabilities and equity
118,675
97,623
84,904
+21.6%
Goodwill
n/a
n/a
7.0
Securities held for sale or to maturity
77,617
60,467
52,901
+28.4%
Cash and equivalents
3,326
2,970
2,927
+12.0%
Other assets
37,732
34,186
29,069
+10.4%
Total assets
118,675
97,623
84,904
+21.6%
10-K for the year ended 31 December 2024, filed 21 February 2025: the filing.