Reinsurance Group of America, Incorporated (RGA), a global life and health reinsurer, has reported a net income available to RGA shareholders of $462 million, up a significant 156.7% from $180 million in the same period a year prior.
Adjusted operating income stood at $586 million, up 86% from $315 million in Q2’25.
In the quarter, consolidated net premiums totalled $4.5 billion, a 7.7% increase from $4.2 billion in the prior-year period.
By segment, U.S. and Latin America posted net premiums of $1.96 billion, down from $2.02 billion in the prior-year period. Canada recorded $348 million, up from $339 million, while Europe, Middle East and Africa (EMEA) posted $568 million, down from $573 million. Asia Pacific recorded $850 million, up from $816 million.
Total revenues amounted to $6.6 billion, up 18.5% from $5.6 billion.
Investment income for the quarter, excluding spread-based businesses, increased 10.3% year on year, primarily due to a larger average invested asset base. Average investment yield was 5.33%, compared with 5.31% in the prior-year quarter, reflecting higher variable investment income.
Tony Cheng, President and Chief Executive Officer, commented, “RGA delivered another record quarter, extending the momentum we have generated so far in 2026 with excellent results across our regions and business lines. Claims experience was modestly favourable to expectations, reinforcing a trend since 2023 that validates our pricing and risk selection discipline. Alongside steady biometric results, we achieved strong investment returns, driven by disciplined execution from our world-class investment team and favourable market backdrop.
“Our first-half results reflect RGA’s durable fundamentals and the strategic advantages of our diversified platform that allow us to deploy capital toward the most attractive opportunities to generate strong risk-adjusted returns while maintaining the discipline to forgo deals that do not meet our standards. With a healthy pipeline, we remain focused on sustainable growth and prudent capital allocation. Our confidence in RGA’s outlook for 2026 and beyond remains high.”
