Reinsurance of America (RGA)
Market Price (12/4/2025): $189.1 | Market Cap: $12.5 BilSector: Financials | Industry: Reinsurance
Reinsurance of America (RGA)
Market Price (12/4/2025): $189.1Market Cap: $12.5 BilSector: FinancialsIndustry: Reinsurance
Investment Highlights
Why It Matters
Which of these 2 stories sounds closer for this stock?
1. Generates cash flow
The stock generated 4% or more of the share price (called cash flow yield), and shows moderate 10-15% or more growth.
2. Riding a trend
Think Tesla during the pandemic of 2020 when EVs were riding a cultural high, or Nvidia in the current AI boom, or even Figma. These companies don’t have enough yield, or, enough growth, or both - however - they are riding a trend. They have momentum. These can be more volatile - they don’t have the floor of strong cash flow
| Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 8.7%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 4.5%, FCF Yield is 38% | Weak multi-year price returns2Y Excs Rtn is -28%, 3Y Excs Rtn is -30% | |
| Cash is significant % of market capNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -93% | ||
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 22%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 22%, CFO LTM is 4.8 Bil, FCF LTM is 4.8 Bil | ||
| Low stock price volatilityVol 12M is 29% | ||
| Megatrend and thematic driversMegatrends include Aging Population & Chronic Disease. Themes include Longevity Risk Solutions, Mortality & Morbidity Risk Management, and Health Claims Reinsurance. |
| Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 8.7%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 4.5%, FCF Yield is 38% |
| Cash is significant % of market capNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -93% |
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 22%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 22%, CFO LTM is 4.8 Bil, FCF LTM is 4.8 Bil |
| Low stock price volatilityVol 12M is 29% |
| Megatrend and thematic driversMegatrends include Aging Population & Chronic Disease. Themes include Longevity Risk Solutions, Mortality & Morbidity Risk Management, and Health Claims Reinsurance. |
| Weak multi-year price returns2Y Excs Rtn is -28%, 3Y Excs Rtn is -30% |
Valuation, Metrics & Events
RGA Stock
Why The Stock Moved
Qualitative Assessment
AI Generated Analysis | Feedback
1. Analyst Target Price Reduction: In early November 2025, Keefe, Bruyette & Woods decreased their target price for Reinsurance Group of America (RGA) from $255.00 to $240.00, contributing to potential downward pressure on the stock.
2. Negative Technical Signals and Downgrades: As of December 3, 2025, Reinsurance Group of America was downgraded to a "Sell candidate" by StockInvest.us, citing "several negative signals" and a "falling trend." A sell signal was also issued from a pivot top point on December 1, 2025, with the stock falling 1.75% since then.
Stock Movement Drivers
Return vs. Risk
Price Returns Compared
| 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| RGA Return | -27% | -3% | 33% | 16% | 34% | -8% | 35% |
| Peers Return | -10% | 39% | 13% | 5% | 25% | 9% | 103% |
| S&P 500 Return | 16% | 27% | -19% | 24% | 23% | 16% | 112% |
Monthly Win Rates [3] | |||||||
| RGA Win Rate | 58% | 50% | 42% | 50% | 50% | 30% | |
| Peers Win Rate | 58% | 63% | 58% | 60% | 65% | 60% | |
| S&P 500 Win Rate | 58% | 75% | 42% | 67% | 75% | 70% | |
Max Drawdowns [4] | |||||||
| RGA Max Drawdown | -65% | -16% | -9% | -14% | 0% | -21% | |
| Peers Max Drawdown | -54% | -2% | -10% | -21% | -1% | -9% | |
| S&P 500 Max Drawdown | -31% | -1% | -25% | -1% | -2% | -15% | |
[1] Cumulative total returns since the beginning of 2020
[2] Peers: TRV, MET, AIG, HIG, PRU. See RGA Returns vs. Peers.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2025 data is for the year up to 12/3/2025 (YTD)
How Low Can It Go
| Event | RGA | S&P 500 |
|---|---|---|
| 2022 Inflation Shock | ||
| % Loss | -29.7% | -25.4% |
| % Gain to Breakeven | 42.2% | 34.1% |
| Time to Breakeven | 307 days | 464 days |
| 2020 Covid Pandemic | ||
| % Loss | -65.2% | -33.9% |
| % Gain to Breakeven | 187.4% | 51.3% |
| Time to Breakeven | 1358 days | 148 days |
| 2018 Correction | ||
| % Loss | -21.9% | -19.8% |
| % Gain to Breakeven | 28.1% | 24.7% |
| Time to Breakeven | 373 days | 120 days |
| 2008 Global Financial Crisis | ||
| % Loss | -66.5% | -56.8% |
| % Gain to Breakeven | 198.4% | 131.3% |
| Time to Breakeven | 1533 days | 1480 days |
Compare to TRV, MET, AIG, HIG, PRU
In The Past
Reinsurance of America's stock fell -29.7% during the 2022 Inflation Shock from a high on 5/6/2021. A -29.7% loss requires a 42.2% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth over time.
Asset Allocation
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Latest Trefis Analyses
| Title | |
|---|---|
| ARTICLES |
Trade Ideas
Select past ideas related to RGA. For more, see Trefis Trade Ideas.
| Date | Ticker | Company | Category | Trade Strategy | 6M Fwd Rtn | 12M Fwd Rtn | 12M Max DD |
|---|---|---|---|---|---|---|---|
| 11212025 | WU | Western Union | Dip Buy | DB | FCFY OPMDip Buy with High FCF Yield and High MarginBuying dips for companies with high FCF yield and meaningfully high operating margin | 3.4% | 3.4% | -0.4% |
| 11212025 | COIN | Coinbase Global | Monopoly | MY | Getting CheaperMonopoly-Like with P/S DeclineLarge cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple | 9.5% | 9.5% | 0.0% |
| 11142025 | PYPL | PayPal | Dip Buy | DB | FCFY OPMDip Buy with High FCF Yield and High MarginBuying dips for companies with high FCF yield and meaningfully high operating margin | 0.1% | 0.1% | -7.5% |
| 11142025 | V | Visa | Monopoly | MY | Getting CheaperMonopoly-Like with P/S DeclineLarge cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple | -0.1% | -0.1% | -2.7% |
| 11072025 | WD | Walker & Dunlop | Dip Buy | DB | P/E OPMDip Buy with Low PE and High MarginBuying dips for companies with tame PE and meaningfully high operating margin | -7.7% | -7.7% | -11.0% |
| Date | Ticker | Company | Category | Trade Strategy | 6M Fwd Rtn | 12M Fwd Rtn | 12M Max DD |
|---|---|---|---|---|---|---|---|
| 11212025 | WU | Western Union | Dip Buy | DB | FCFY OPMDip Buy with High FCF Yield and High MarginBuying dips for companies with high FCF yield and meaningfully high operating margin | 3.4% | 3.4% | -0.4% |
| 11212025 | COIN | Coinbase Global | Monopoly | MY | Getting CheaperMonopoly-Like with P/S DeclineLarge cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple | 9.5% | 9.5% | 0.0% |
| 11142025 | PYPL | PayPal | Dip Buy | DB | FCFY OPMDip Buy with High FCF Yield and High MarginBuying dips for companies with high FCF yield and meaningfully high operating margin | 0.1% | 0.1% | -7.5% |
| 11142025 | V | Visa | Monopoly | MY | Getting CheaperMonopoly-Like with P/S DeclineLarge cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple | -0.1% | -0.1% | -2.7% |
| 11072025 | WD | Walker & Dunlop | Dip Buy | DB | P/E OPMDip Buy with Low PE and High MarginBuying dips for companies with tame PE and meaningfully high operating margin | -7.7% | -7.7% | -11.0% |
Research & Analysis
Invest in Strategies
Wealth Management
Peer Comparisons for Reinsurance of America
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 121.30 |
| Mkt Cap | 40.8 |
| Rev LTM | 38,050 |
| Op Inc LTM | - |
| FCF LTM | 5,570 |
| FCF 3Y Avg | 5,706 |
| CFO LTM | 5,631 |
| CFO 3Y Avg | 5,710 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 2.6% |
| Rev Chg 3Y Avg | 9.2% |
| Rev Chg Q | -0.2% |
| QoQ Delta Rev Chg LTM | -0.0% |
| Op Mgn LTM | - |
| Op Mgn 3Y Avg | - |
| QoQ Delta Op Mgn LTM | - |
| CFO/Rev LTM | 20.6% |
| CFO/Rev 3Y Avg | 19.6% |
| FCF/Rev LTM | 20.6% |
| FCF/Rev 3Y Avg | 19.5% |
Valuation
| Median | |
|---|---|
| Name | |
| Mkt Cap | 40.8 |
| P/S | 1.0 |
| P/EBIT | 8.1 |
| P/E | 13.7 |
| P/CFO | 6.3 |
| Total Yield | 10.0% |
| Dividend Yield | 2.1% |
| FCF Yield 3Y Avg | 16.5% |
| D/E | 0.3 |
| Net D/E | -1.1 |
Returns
| Median | |
|---|---|
| Name | |
| 1M Rtn | 5.2% |
| 3M Rtn | -1.4% |
| 6M Rtn | 2.3% |
| 12M Rtn | -1.1% |
| 3Y Rtn | 35.1% |
| 1M Excs Rtn | 5.2% |
| 3M Excs Rtn | -7.6% |
| 6M Excs Rtn | -12.4% |
| 12M Excs Rtn | -17.1% |
| 3Y Excs Rtn | -33.5% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 9302025 | 10312025 | 10-Q 9/30/2025 |
| 6302025 | 8012025 | 10-Q 6/30/2025 |
| 3312025 | 5022025 | 10-Q 3/31/2025 |
| 12312024 | 2212025 | 10-K 12/31/2024 |
| 9302024 | 11012024 | 10-Q 9/30/2024 |
| 6302024 | 8022024 | 10-Q 6/30/2024 |
| 3312024 | 5032024 | 10-Q 3/31/2024 |
| 12312023 | 2262024 | 10-K 12/31/2023 |
| 9302023 | 11032023 | 10-Q 9/30/2023 |
| 6302023 | 8042023 | 10-Q 6/30/2023 |
| 3312023 | 5052023 | 10-Q 3/31/2023 |
| 12312022 | 2242023 | 10-K 12/31/2022 |
| 9302022 | 11042022 | 10-Q 9/30/2022 |
| 6302022 | 8052022 | 10-Q 6/30/2022 |
| 3312022 | 5062022 | 10-Q 3/31/2022 |
| 12312021 | 2252022 | 10-K 12/31/2021 |
External Quote Links
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| SeekingAlpha | ValueLine |
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| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |