Filing Flows › Reinsurance Group of America (RGA) › Q3 2025
Reinsurance Group of America (RGA) Q3 2025 earnings results (third quarter 2025)
10-Q filed Oct 31, 2025
Reinsurance Group of America (RGA) reported revenue of $6.2B for the third quarter 2025 (Q3 2025), +10% from a year earlier and +11% from the quarter before. Operating margin was 5.2%, net earnings $255M (4.1% of revenue).
Reinsurance Group of America, Q3 2025: revenue $6.2B (+10% year over year), operating margin 5.2%, net earnings $255M, operating cash flow −$990M. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $6.2B | +11% | +10% |
| Operating profit | $320M | -6% | +50% |
| Net earnings | $255M | +41% | +61% |
| Operating cash flow | −$990M | — | — |
What changed
Revenue was $6.2B in Q3 2025, up 10% year over year and up 11% from the previous quarter.
Operating profit was $0.32B, a 5.2% margin (up 1.4 points year over year). Of the extra revenue versus a year earlier, 19% reached operating profit, above the 4% margin then. Total costs grew 8% against revenue growth of 10%. Net earnings were $0.25B, up 62% year over year. The effective tax rate was 20.3%.
Operating cash flow was −$1.0B. Non-cash charges added back $4.0M of share-based compensation. Working capital and other items used $1.2B.
Questions
What was Reinsurance Group of America's revenue in the third quarter 2025?
Reinsurance Group of America (RGA) reported revenue of $6.2B for the third quarter 2025 (Q3 2025), +10% from a year earlier and +11% from the quarter before.
Was Reinsurance Group of America profitable in the third quarter 2025?
Operating profit was $320M (5.2% of revenue) and net earnings $255M.