RGAREINSURANCE GROUP OF AMERICA INC
Life Insurance
- Revenue
- $23.7B
- 7.2% YoY
- Operating margin
- —
- EBITDA
- —
- Market cap
- $18.0B
- Employees
- 4,300
- $6M revenue each
- Net debt / EBITDA
- —
- $421M net debt
- AI in 10-K
- 1.5
- mentions per 10K words
Takeover score 1 of 13
Fixable underperformance 1 of 7
- TSR below peersYes4 of 5 years3+ of last 5 years
- High CEO pay despite TSRNo$13M medianMedian CEO pay ≥ $15M while TSR trails
- Earnings not backed by cashNo346% of net incomeCash flow under 80% of net income
- Dilutive SBCNo0% of revenueOver 10% of revenue
- Payouts exceed cash flowNo6% of cash flowBuybacks + dividends over cash flow
- Goodwill-heavyNo0% of assetsOver 40% of assets
- Shareholder dissentNo99% lowest supportAny vote under 80% support
Buyer economics 0 of 4
- Low revenue per employeeNo$6M · 90th pctBottom quartile of its SIC industry
- Quiet on AINo1.5 per 10K words · 45th pctBottom quartile of AI mentions in 10-Ks
- Net cashNo—More cash than debt, positive EBITDA
- Buyout-sizedNo$18.0B market capMarket cap $500M–$5B
Catalysts 0 of 2
- Active 13DNo0 filingsActive-intent 13D in 18 months
- Net insider sellingNo−$4M netNet sales over $10M in 12 months
Financials
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | YoY |
|---|---|---|---|---|---|---|
| Revenue | $16.7B | $16.2B | $18.6B | $22.1B | $23.7B | 7.2% |
| Net income | $617M | $623M | $902M | $717M | $1.2B | 65% |
| Operating cash flow | $4.2B | $1.3B | $4.0B | $9.4B | $4.1B | 56% |
| Capex | $19M | $25M | — | — | — | |
| Stock-based comp | $55M | $45M | $46M | $60M | $42M | 30% |
| Dividends | $194M | $205M | $219M | $229M | $240M | 4.8% |
Deal filings
None.
13D filers
None on file.
Insider trading
- Open-market buys, 12 mo
- $0 · 0
- Open-market sells, 12 mo
- $4M · 4
- Net
- −$4M
Pay vs performance
| Year | CEO total comp | Comp actually paid | TSR (indexed) | Peer TSR |
|---|---|---|---|---|
| FY2025 | $13M | $11M | 195 | 201 |
| FY2024 | $11M | $16M | 201 | 190 |
| FY2023 | $14M | $20M | 150 | 158 |
| FY2022 | $11M | $20M | 129 | 151 |
| FY2021 | $16M | $9M | 97 | 137 |