Reinsurance Group of America, Incorporated (RGA) — Fundamental Analysis & Key Financial Ratios

Kaplio overview: Reinsurance Group of America, Incorporated

Market cap $17B · 52 weeks $182 – $272 (4 % below the high) · P/E 11.5× · 2027 expected P/E 8.7× · Dividend 1.4 % · 11 years rising · Next earnings November 5, 2026 · expected EPS $6.97 · Closing price, Oct 28 · accounts published Aug 6.

• Valuation: P/B 1.3× (justified).
• Business: 5-year op. margin 6.1 % (weak).
• Balance sheet: Debt/Equity 0.42 (fragile).
• Earnings: 6 of 8 (on track).

What would it be worth at its usual multiples?

At a P/B justified by its ROE del 11,3 % (1.5×) $311 (+19 %); at its peers' median (1.2×) $245 (-6 %). Implied price from applying the reference multiples to today's earnings (or book value, or FFO) per share. Not a fair value: it is where the stock would trade at its usual multiples.

What matters in insurance: 2 of 5 pass

• Op Margin 5y (Combined Ratio proxy) 6.1 %, fails.
• Book Value / Share growth −1.4 %, fails.
• Debt / Equity 0.42, fails.
• P/B (Price / Book) 1.3×, passes.
• Dividend growth streak 11 años, passes, near the threshold.

Against its peers (reference peers) — Reinsurance Group of America, Incorporated: P/E 11.5×; P/B 1.3×; ROE 11.3 %; $17.0B. Everest Group, Ltd. (P/E 8.2×; P/B 1.0×; ROE 12.5 %; $14.8B), RenaissanceRe Holdings Ltd. (P/E 9.5×; P/B 1.2×; ROE 14.8 %; $13.8B), Hamilton Insurance Group, Ltd. (P/E 6.4×; P/B 1.2×; ROE 21.2 %; $3.7B).

Expensive or cheap against its last ten fiscal years?

Precio / valor contable at each close: today 1.3× · median 1.1× · minimum 0.3× · maximum 1.7× · cheap below 0.8× · expensive above 1.4×. It has been cheaper than today 70% of the time over its last ten fiscal years.

Dividend

solid · Yield 1.4 % ($3.63 per share in 2025) · Years raising it ≥ 11 · 5-year growth +6 % a year · Free cash flow coverage payout 20 % · With $1,000 invested today you'd collect $14.40 a year ($1.20 a month).