Mortality experience relative to pricing assumptions - favorable claims experience drives immediate earnings beats while adverse mortality (pandemics, excess deaths) creates reserve charges
Investment portfolio yields and credit spreads - spread compression or expansion directly impacts net investment income on $70B+ invested asset base
New business volume and pricing discipline - large treaty wins in Asia-Pacific or U.S. pension risk transfer deals signal growth, while pricing deterioration indicates competitive pressure
Regulatory capital requirements and solvency ratios - changes to RBC requirements or international capital standards (Solvency II, IFRS 17) affect capital deployment flexibility
moderate - Life insurance demand shows modest correlation to GDP growth as employment drives group life sales and wealth accumulation increases individual policy purchases. Recessions reduce new business volumes but in-force premiums remain stable due to long-duration liabilities. Asset-intensive business (annuities, pension risk transfer) accelerates during economic uncertainty as plan sponsors seek to de-risk. Claims experience can deteriorate during severe recessions due to stress-related mortality, though this is secondary to pandemic or catastrophic events.
High positive sensitivity to rising interest rates through multiple channels: (1) investment portfolio yields increase on new money rates and floating rate securities, expanding net investment income spread by an estimated 15-25 basis points per 100bp rate increase, (2) discount rates on long-duration liabilities rise, reducing present value of reserves and freeing capital, (3) asset-liability duration matching improves profitability in spread-based products. Conversely, the prolonged low-rate environment from 2020-2022 compressed spreads and reduced embedded value. Current rising rate environment from 2022-2026 is structurally positive for reinsurer profitability.
Pandemic and catastrophic mortality risk - COVID-19 resulted in billions in industry claims; future pandemics or excess mortality trends (cardiovascular, cancer) could generate reserve inadequacy and capital depletion beyond modeled tail risk scenarios
IFRS 17 and regulatory accounting changes - new international accounting standards effective 2023 altered earnings recognition patterns and capital calculations, creating volatility and potential competitive disadvantages for companies with legacy treaty structures
Longevity risk mispricing - pension risk transfer and annuity reinsurance exposed to systematic underestimation of life expectancy improvements, particularly if medical advances accelerate beyond actuarial assumptions
value - Current 1.1x price-to-book and depressed 6.1% ROE suggest deep value opportunity if profitability normalizes toward historical 12-14% operating ROE targets. The 73.7% FCF yield appears anomalous (likely data quality issue given insurance accounting) but strong cash generation attracts value investors seeking capital return through dividends and buybacks. Modest 1.1% one-year return indicates lack of momentum, appealing to contrarian value investors betting on reinsurance cycle improvement and interest rate tailwinds. Not a growth or dividend story given muted recent performance and cyclical earnings volatility.
Trend
+0.8% vs SMA 50 · +1.4% vs SMA 200
Momentum
Accumulation pattern present — more buying days than selling over the past 20 sessions. Volume conditions support gradual price improvement.
Based on volume distribution analysis. Direct short interest data (short float %, days to cover) is not available in current data sources.
ANALYST ESTIMATES
Analyst consensus estimates · Actuals replace estimates as reported
| Year | Revenue Est. | Rev Gth | EPS Est. | EPS Gth | Range | Analysts |
|---|---|---|---|---|---|---|
FY2024 | $22.7B $22.1B–$23.1B | — | $20.73 | — | ±4% | High6 |
FY2025 | $23.6B $23.3B–$24.0B | ▲ +3.8% | $21.12 | ▲ +1.9% | ±4% | High6 |
FY2026(current) | $26.2B $26.0B–$26.4B | ▲ +10.9% | $26.22 | ▲ +24.1% | ±4% | Low2 |
Dividend per payment — last 8 periods
INSTITUTIONAL OWNERSHIP
RZB News
About
www.rgare.com rga reinsurance company is a subsidiary of reinsurance group of america, incorporated (nyse: rga), which is an international global life and health reinsurance company with approximately $2.9 trillion of life reinsurance in force and assets of $44.7 billion, as of december 31, 2014. business lines include individual life reinsurance, individual living benefits reinsurance, health reinsurance, long-term care reinsurance, group reinsurance and financial solutions. rga also supports clients with bancassurance and retakaful. rga is the worldwide leader in facultative underwriting. as a global organization, rga has received nearly 5 million facultative cases since 1979. rga also offers product development, risk management, e-underwriting solutions and client training opportunities. rga has operations in 27 countries: australia, barbados, bermuda, canada, china, france, germany, hong kong, india, ireland, italy, japan, malaysia, mexico, the netherlands, new zealand, pol
| Symbol | Price | Day % | Mkt Cap↓ | P/E | Rev Grw | Margin | ELO |
|---|---|---|---|---|---|---|---|
RZB◀ | $25.26 | +0.00% | $12.7B | 11.3 | +719.7% | 498.8% | 1500 |
| $404.35 | -3.20% | $2.1T | 30.5 | +3296.8% | 4510.0% | 1500 | |
| $132.58 | -6.05% | $307.9B | 20.7 | -44.8% | 1012.0% | 1500 | |
| $88.38 | -2.58% | $303.7B | 13.6 | +318.8% | 1510.7% | 1500 | |
| $148.08 | -1.13% | $282.6B | 21.0 | +597.3% | 2564.4% | 1500 | |
| $181.58 | -1.83% | $281.6B | 26.9 | +862.9% | 1745.9% | 1500 | |
| $183.40 | -0.23% | $256.1B | 16.8 | +213.3% | 1482.4% | 1500 | |
| Sector avg | — | -2.15% | — | 20.1 | +852.0% | 1903.4% | 1500 |