RGA second-quarter profit falls to $2.70 per share; Equitable reinsurance deal closes
Reinsurance Group of America reported second-quarter 2025 net income of $180 million, or $2.70 per diluted share, down from $203 million, or $3.03, a year earlier, while net premiums rose 5.9% to $4.2 billion. CEO Tony Cheng said results were below expectations, mainly due to claims volatility in U.S. Individual Life, and the company also raised its quarterly dividend 4.5% to $0.93 and entered reinsurance agreements covering about $32 billion of Equitable Holdings life insurance liabilities.
Key points
- Net income available to RGA shareholders was $180 million ($2.70 per diluted share) versus $203 million ($3.03) a year earlier.
- Adjusted operating income was $315 million ($4.72 per diluted share) versus $365 million ($5.48).
- Quarterly dividend increased 4.5% to $0.93 per share, payable August 26, 2025, to holders of record as of August 12, 2025.
- RGA Re ceded a 75% quota share of Equitable's in-force individual life liabilities, about $32 billion, in a transaction the CEO said closed on July 31, 2025.
The filing
Written by AI (Anthropic Claude, claude-haiku-5-5) on Nov 8, 2026, 1:11 AM ET, from the text of the filing and its press-release exhibits only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on July 31, 2025.
Briefs are written by AI from the filing text (each brief's own page names the model) and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the model's reading of the filing for shareholders, not a price forecast. Not investment advice.