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Reinsurance Group of America

DB:RGPB
Snowflake Description

Undervalued established dividend payer.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
RGPB
DB
$10B
Market Cap
  1. Home
  2. DE
  3. Insurance
Company description

Reinsurance Group of America, Incorporated engages in reinsurance business. The last earnings update was 73 days ago. More info.


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RGPB Share Price and Events
7 Day Returns
0.7%
DB:RGPB
-1%
DE Insurance
-1.8%
DE Market
1 Year Returns
21.3%
DB:RGPB
20.6%
DE Insurance
-6.7%
DE Market
RGPB Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Reinsurance Group of America (RGPB) 0.7% 5.5% 7.8% 21.3% 60.5% 139.6%
DE Insurance -1% 3.2% 4% 20.6% 60.3% 60.2%
DE Market -1.8% 1.6% -1.6% -6.7% 10.1% 11%
1 Year Return vs Industry and Market
  • RGPB matched the Insurance industry (20.6%) over the past year.
  • RGPB outperformed the Market in Germany which returned -6.7% over the past year.
Price Volatility
RGPB
Industry
5yr Volatility vs Market

RGPB Value

 Is Reinsurance Group of America undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Reinsurance Group of America to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Reinsurance Group of America.

DB:RGPB Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model Excess Returns Model
Stable EPS Weighted future Return on Equity estimates from 6 analysts.
= Stable Book Value * Return on Equity
= $173.30 * 9.7%
$16.89
Book Value of Equity per Share Weighted future Book Value estimates from 5 analysts. $173.30
Discount Rate (Cost of Equity) See below 5.7%
Perpetual Growth Rate 10-Year DE Government Bond Rate 0.2%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for DB:RGPB
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year DE Govt Bond Rate 0.2%
Equity Risk Premium S&P Global 6%
Insurance Unlevered Beta Simply Wall St/ S&P Global 0.69
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.686 (1 + (1- 21%) (34.63%))
0.915
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.92
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.23% + (0.915 * 5.96%)
5.68%

Discounted Cash Flow Calculation for DB:RGPB using Excess Returns Model Model

The calculations below outline how an intrinsic value for Reinsurance Group of America is arrived at using the Excess Return Model. This approach is used for finance firms where free cash flow is difficult to estimate.

In the Excess Return Model the value of a firm can be written as the sum of capital invested currently in the firm and the present value of excess returns that the firm expects to make in the future.

The model is sensitive to the Return on Equity of the company versus the Cost of Equity, how these are calculated is detailed below the main calculation.

Note the calculations below are per share.

See our documentation to learn about this calculation.

DB:RGPB Value of Excess Returns
Calculation Result
Excess Returns = (Stable Return on equity – Cost of equity) (Book Value of Equity per share)
= (9.7% – 5.68%) * $173.30)
$7.04
Terminal Value of Excess Returns = Excess Returns / (Cost of Equity - Expected Growth Rate)
= $7.04 / (5.68% - 0.23%)
$129.04
Value of Equity = Book Value per share + Terminal Value of Excess Returns
= $173.30 + $129.04
$302.34
DB:RGPB Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in DB:RGPB represents 0.88741x of NYSE:RGA
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.88741x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (USD) x Listing Adjustment Factor
= $ 302.34 x 0.88741
€268.30
Value per share (EUR) From above. €268.30
Current discount Discount to share price of €141.00
= -1 x (€141.00 - €268.30) / €268.30
47.4%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price Reinsurance Group of America is available for.
Intrinsic value
47%
Share price is €141 vs Future cash flow value of €268.3
Current Discount Checks
For Reinsurance Group of America to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Reinsurance Group of America's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Reinsurance Group of America's share price is below the future cash flow value, and at a substantial discount (> 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Reinsurance Group of America's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Reinsurance Group of America's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
DB:RGPB PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-03-31) in USD $12.42
NYSE:RGA Share Price ** NYSE (2019-07-15) in USD $158.89
Germany Insurance Industry PE Ratio Median Figure of 6 Publicly-Listed Insurance Companies 13.39x
Germany Market PE Ratio Median Figure of 419 Publicly-Listed Companies 20.05x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Reinsurance Group of America.

DB:RGPB PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NYSE:RGA Share Price ÷ EPS (both in USD)

= 158.89 ÷ 12.42

12.8x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Reinsurance Group of America is good value based on earnings compared to the DE Insurance industry average.
  • Reinsurance Group of America is good value based on earnings compared to the Germany market.
Price based on expected Growth
Does Reinsurance Group of America's expected growth come at a high price?
Raw Data
DB:RGPB PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 12.8x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 6 Analysts
4.8%per year
Germany Insurance Industry PEG Ratio Median Figure of 5 Publicly-Listed Insurance Companies 3.1x
Germany Market PEG Ratio Median Figure of 270 Publicly-Listed Companies 1.47x

*Line of best fit is calculated by linear regression .

DB:RGPB PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 12.8x ÷ 4.8%

2.65x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Reinsurance Group of America is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Reinsurance Group of America's assets?
Raw Data
DB:RGPB PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-03-31) in USD $154.61
NYSE:RGA Share Price * NYSE (2019-07-15) in USD $158.89
Germany Insurance Industry PB Ratio Median Figure of 6 Publicly-Listed Insurance Companies 1.07x
Germany Market PB Ratio Median Figure of 565 Publicly-Listed Companies 1.74x
DB:RGPB PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NYSE:RGA Share Price ÷ Book Value per Share (both in USD)

= 158.89 ÷ 154.61

1.03x

* Primary Listing of Reinsurance Group of America.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Reinsurance Group of America is good value based on assets compared to the DE Insurance industry average.
X
Value checks
We assess Reinsurance Group of America's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Insurance industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Insurance industry average (and greater than 0)? (1 check)
  5. Reinsurance Group of America has a total score of 5/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

RGPB Future Performance

 How is Reinsurance Group of America expected to perform in the next 1 to 3 years based on estimates from 6 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
4.8%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Reinsurance Group of America expected to grow at an attractive rate?
  • Reinsurance Group of America's earnings growth is expected to exceed the low risk savings rate of 0.2%.
Growth vs Market Checks
  • Reinsurance Group of America's earnings growth is positive but not above the Germany market average.
  • Reinsurance Group of America's revenue growth is positive but not above the Germany market average.
Annual Growth Rates Comparison
Raw Data
DB:RGPB Future Growth Rates Data Sources
Data Point Source Value (per year)
DB:RGPB Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 6 Analysts 4.8%
DB:RGPB Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 6 Analysts 4.7%
Germany Insurance Industry Earnings Growth Rate Market Cap Weighted Average 4.7%
Germany Insurance Industry Revenue Growth Rate Market Cap Weighted Average 5%
Germany Market Earnings Growth Rate Market Cap Weighted Average 12.1%
Germany Market Revenue Growth Rate Market Cap Weighted Average 5.1%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
DB:RGPB Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 6 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
DB:RGPB Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2021-12-31 15,014 926 4
2020-12-31 14,322 897 6
2019-12-31 13,695 859 6
DB:RGPB Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2019-03-31 13,122 1,698 785
2018-12-31 12,876 1,581 716
2018-09-30 12,830 1,978 1,823
2018-06-30 12,747 1,910 1,749
2018-03-31 12,681 1,789 1,777
2017-12-31 12,516 1,982 1,822
2017-09-30 12,353 1,550 795
2017-06-30 12,108 1,527 767
2017-03-31 12,018 1,515 770
2016-12-31 11,522 1,466 701
2016-09-30 11,281 2,230 674
2016-06-30 10,819 2,077 559

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Reinsurance Group of America's earnings are expected to grow by 4.8% yearly, however this is not considered high growth (20% yearly).
  • Reinsurance Group of America's revenue is expected to grow by 4.7% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
DB:RGPB Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 6 Analyst Estimates (S&P Global) See Below

All data from Reinsurance Group of America Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:RGPB Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2021-12-31 13.99 13.99 13.99 1.00
2020-12-31 13.12 13.12 13.12 1.00
2019-12-31 12.43 12.43 12.43 1.00
DB:RGPB Past Financials Data
Date (Data in USD Millions) EPS *
2019-03-31 12.42
2018-12-31 11.25
2018-09-30 28.45
2018-06-30 27.17
2018-03-31 27.57
2017-12-31 28.28
2017-09-30 12.35
2017-06-30 11.92
2017-03-31 12.00
2016-12-31 10.91
2016-09-30 10.44
2016-06-30 8.59

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Reinsurance Group of America is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Reinsurance Group of America's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Germany market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Germany market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Reinsurance Group of America has a total score of 1/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

RGPB Past Performance

  How has Reinsurance Group of America performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Reinsurance Group of America's growth in the last year to its industry (Insurance).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Reinsurance Group of America has delivered over 20% year on year earnings growth in the past 5 years.
  • Reinsurance Group of America's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • Reinsurance Group of America's 1-year earnings growth is negative, it can't be compared to the DE Insurance industry average.
Earnings and Revenue History
Reinsurance Group of America's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Reinsurance Group of America Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:RGPB Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-03-31 13,121.99 785.12 30.10
2018-12-31 12,875.66 715.84 30.10
2018-09-30 12,829.59 1,822.69 22.30
2018-06-30 12,747.37 1,749.08 22.30
2018-03-31 12,680.74 1,776.90 22.30
2017-12-31 12,515.77 1,822.18 22.30
2017-09-30 12,352.62 795.44 33.10
2017-06-30 12,107.89 766.57 33.10
2017-03-31 12,017.68 770.48 33.10
2016-12-31 11,521.51 701.44 33.10
2016-09-30 11,280.80 674.42 16.00
2016-06-30 10,818.86 559.24 16.00
2016-03-31 10,410.19 453.52 16.00
2015-12-31 10,418.18 502.17 16.00
2015-09-30 10,287.00 530.13 24.40
2015-06-30 10,564.95 604.59 24.40
2015-03-31 10,767.79 672.50 24.40
2014-12-31 10,904.19 684.05 24.40
2014-09-30 10,943.58 637.92 20.30
2014-06-30 10,616.80 617.87 20.30
2014-03-31 10,374.21 369.97 20.30
2013-12-31 10,271.85 418.84 20.30
2013-09-30 10,245.96 496.87
2013-06-30 10,305.22 503.39
2013-03-31 10,090.33 694.11
2012-12-31 9,828.71 631.89 28.50
2012-09-30 9,456.30 547.48

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Reinsurance Group of America has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Reinsurance Group of America used its assets more efficiently than the DE Insurance industry average last year based on Return on Assets.
  • Reinsurance Group of America has improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Reinsurance Group of America's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Insurance industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Reinsurance Group of America has a total score of 3/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

RGPB Health

 How is Reinsurance Group of America's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Reinsurance Group of America's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Reinsurance Group of America's short term (1 year) commitments are greater than its holdings of cash and other short term assets.
  • Reinsurance Group of America's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Reinsurance Group of America's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • Low level of unsold assets.
  • Debt is covered by short term assets, assets are 1.9x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Reinsurance Group of America Company Filings, last reported 3 months ago.

DB:RGPB Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-03-31 9,670.11 3,461.51 2,188.29
2018-12-31 8,450.55 3,488.38 2,070.31
2018-09-30 8,579.32 3,512.93 1,989.52
2018-06-30 8,601.70 3,527.85 1,556.88
2018-03-31 9,008.26 3,553.39 1,681.65
2017-12-31 9,569.54 3,586.61 1,448.19
2017-09-30 8,097.12 3,609.26 1,331.43
2017-06-30 7,971.16 3,638.10 1,301.81
2017-03-31 7,420.03 3,638.76 1,282.41
2016-12-31 7,093.08 3,953.71 1,370.94
2016-09-30 7,993.48 3,978.23 1,667.40
2016-06-30 7,580.65 4,001.77 1,389.92
2016-03-31 6,718.87 3,225.42 2,065.28
2015-12-31 6,135.38 3,230.89 2,155.44
2015-09-30 6,241.07 3,267.44 1,892.40
2015-06-30 6,483.23 3,274.57 1,464.64
2015-03-31 7,150.03 3,117.62 1,272.61
2014-12-31 7,023.45 3,093.85 1,846.14
2014-09-30 6,680.00 2,812.38 1,225.98
2014-06-30 6,688.96 2,815.32 1,485.78
2014-03-31 6,250.55 2,764.31 1,280.83
2013-12-31 5,935.53 2,725.58 1,075.50
2013-09-30 5,895.65 2,717.35 1,502.23
2013-06-30 5,887.92 2,445.12 1,057.15
2013-03-31 6,915.09 2,325.29 1,282.26
2012-12-31 6,910.19 2,485.92 1,652.95
2012-09-30 6,734.04 2,641.82 1,694.52
  • Reinsurance Group of America's level of debt (35.8%) compared to net worth is satisfactory (less than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (44.2% vs 35.8% today).
  • Debt is well covered by operating cash flow (49.1%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 7.4x coverage).
X
Financial health checks
We assess Reinsurance Group of America's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Reinsurance Group of America has a total score of 4/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

RGPB Dividends

 What is Reinsurance Group of America's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
1.51%
Current annual income from Reinsurance Group of America dividends. Estimated to be 1.73% next year.
If you bought €2,000 of Reinsurance Group of America shares you are expected to receive €30 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Reinsurance Group of America's pays a higher dividend yield than the bottom 25% of dividend payers in Germany (1.48%).
  • Reinsurance Group of America's dividend is below the markets top 25% of dividend payers in Germany (3.85%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
DB:RGPB Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 6 Analyst Estimates (S&P Global) See Below
Germany Insurance Industry Average Dividend Yield Market Cap Weighted Average of 6 Stocks 4.1%
Germany Market Average Dividend Yield Market Cap Weighted Average of 325 Stocks 3.1%
Germany Minimum Threshold Dividend Yield 10th Percentile 0.8%
Germany Bottom 25% Dividend Yield 25th Percentile 1.5%
Germany Top 25% Dividend Yield 75th Percentile 3.9%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

DB:RGPB Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2021-12-31 3.14 5.00
2020-12-31 2.77 8.00
2019-12-31 2.50 8.00
DB:RGPB Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2019-05-03 2.400 1.580
2019-02-27 2.400 1.646
2019-01-28 2.400 1.671
2018-07-26 2.400 1.684
2018-04-26 2.000 1.384
2018-02-27 2.000 1.289
2018-01-29 2.000 1.298
2017-11-02 2.000 1.273
2017-10-26 2.000 1.339
2017-08-02 2.000 1.446
2017-07-27 2.000 1.438
2017-05-04 1.640 1.284
2017-04-27 1.640 1.292
2017-02-28 1.640 1.288
2017-01-30 1.640 1.282
2016-11-02 1.640 1.338
2016-10-26 1.640 1.513
2016-08-03 1.640 1.545
2016-07-28 1.640 1.669
2016-05-05 1.480 1.543
2016-04-28 1.480 1.557
2016-02-29 1.480 1.557
2016-01-28 1.480 1.713
2015-11-04 1.480 1.709
2015-10-29 1.480 1.607
2015-08-05 1.480 1.600
2015-07-23 1.480 1.529
2015-05-05 1.320 1.385
2015-04-23 1.320 1.436
2014-10-27 1.320 1.502
2014-07-24 1.320 1.632
2014-05-05 1.200 1.529
2014-04-24 1.200 1.561
2014-02-27 1.200 1.533
2014-01-30 1.200 1.631
2013-07-18 1.200 1.699
2013-04-25 0.960 1.450
2013-01-31 0.960 1.630
2012-10-17 0.960 1.808
2012-07-26 0.960 1.662
2012-04-30 0.720 1.357
2012-01-30 0.720 1.256
2011-10-24 0.720 1.385
2011-07-25 0.720 1.419
2011-04-25 0.480 0.780
2011-01-31 0.480 0.792
2010-10-25 0.480 0.900
2010-08-04 0.480 1.017
2010-07-26 0.480 0.986
2010-02-01 0.480 0.983
2009-10-26 0.360 0.756
2009-07-27 0.360 0.820
2009-04-23 0.360 1.044
2008-10-23 0.360 1.063
2008-07-21 0.360 0.790

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Dividends per share have been stable in the past 10 years.
  • Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of Reinsurance Group of America's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (5.4x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be well covered by earnings (5.1x coverage).
X
Income/ dividend checks
We assess Reinsurance Group of America's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Reinsurance Group of America afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Reinsurance Group of America has a total score of 5/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

RGPB Management

 What is the CEO of Reinsurance Group of America's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Anna Manning
COMPENSATION $6,700,422
AGE 60
TENURE AS CEO 2.5 years
CEO Bio

Ms. Anna Manning is the President of Reinsurance Group of America, Incorporated (the “Company”) from December 2015 and has been its Chief Executive Officer from 2017. Ms. Manning held the position of Senior Executive Vice President, Structured Solutions, which included the Company’s Global Financial Solutions and Global Acquisitions businesses. Prior to assuming this role, Ms. Manning spent four years as Executive Vice President, U.S. Markets. Ms. Manning joined Reinsurance Group in 2007, and shortly thereafter assumed the role of Executive Vice President and Chief Operating Officer for the International Division. She has been a Director at Reinsurance Group America Inc. January 1, 2016. Prior to joining the Company, Ms. Manning spent 19 years in actuarial consulting at Tillinghast Towers Perrin, following an actuarial career in the Canadian marketplace at Manulife Financial from 1981-1988. She holds a B.Sc. in Actuarial Science from the University of Toronto, is a Fellow of the Canadian Institute of Actuaries and a Fellow of the Society of Actuaries.

CEO Compensation
  • Anna's compensation has been consistent with company performance over the past year, both up more than 20%.
  • Anna's remuneration is higher than average for companies of similar size in Germany.
Management Team Tenure

Average tenure and age of the Reinsurance Group of America management team in years:

3.2
Average Tenure
53.5
Average Age
  • The tenure for the Reinsurance Group of America management team is about average.
Management Team

Anna Manning

TITLE
President
COMPENSATION
$7M
AGE
60
TENURE
2.5 yrs

Todd Larson

TITLE
Senior EVP & CFO
COMPENSATION
$2M
AGE
55
TENURE
3.2 yrs

Alain Néemeh

TITLE
Senior EVP & COO
COMPENSATION
$3M
AGE
51
TENURE
2.5 yrs

John Laughlin

TITLE
Executive Vice President of Global Financial Solutions
COMPENSATION
$3M
AGE
64

Jeff Hopson

TITLE
Senior Vice President - Investor Relations
TENURE
5.5 yrs

William Hutton

TITLE
Executive VP
AGE
59
TENURE
8.5 yrs

Scott Cochran

TITLE
Executive Vice President of Corporate Development
AGE
46

Gay Burns

TITLE
Executive VP & Chief Human Resource Officer

John Hayden

TITLE
Executive VP & Controller
AGE
52

Jonathan Porter

TITLE
Executive VP & Global Chief Risk Officer
AGE
48
Board of Directors Tenure

Average tenure and age of the Reinsurance Group of America board of directors in years:

8.5
Average Tenure
69
Average Age
  • The tenure for the Reinsurance Group of America board of directors is about average.
Board of Directors

J. Eason

TITLE
Chairman of the Board
COMPENSATION
$499K
AGE
71
TENURE
10.8 yrs

Anna Manning

TITLE
President
COMPENSATION
$7M
AGE
60
TENURE
3.5 yrs

Alan Henderson

TITLE
Independent Director
COMPENSATION
$153K
AGE
73
TENURE
17.5 yrs

John Danahy

TITLE
Independent Director
COMPENSATION
$298K
AGE
72
TENURE
10.5 yrs

Arnoud W. Boot

TITLE
Independent Director
COMPENSATION
$303K
AGE
59
TENURE
10.5 yrs

Fred Sievert

TITLE
Independent Director
COMPENSATION
$307K
AGE
71
TENURE
9.5 yrs

Stan Tulin

TITLE
Independent Director
COMPENSATION
$281K
AGE
69
TENURE
7.5 yrs

Christine Detrick

TITLE
Independent Director
COMPENSATION
$278K
AGE
60
TENURE
5.5 yrs

Tricia Guinn

TITLE
Independent Director
COMPENSATION
$269K
AGE
64
TENURE
2.8 yrs

Hazel McNeilage

TITLE
Independent Director
COMPENSATION
$133K
TENURE
1 yrs
Who owns this company?
Recent Insider Trading
  • Reinsurance Group of America individual insiders have only sold shares in the past 3 months.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (€) Value (€)
13. May 19 Sell Alain Néemeh Individual 10. May 19 10. May 19 -3,668 €131.65 €-482,879
26. Feb 19 Sell Alan Henderson Individual 25. Feb 19 25. Feb 19 -1,200 €127.77 €-153,329
19. Feb 19 Sell John Hayden Individual 15. Feb 19 15. Feb 19 -1,797 €127.89 €-229,826
15. Feb 19 Sell Alan Henderson Individual 13. Feb 19 13. Feb 19 -947 €128.44 €-121,634
31. Dec 18 Buy Timothy Matson Individual 28. Dec 18 28. Dec 18 100 €114.03 €11,403
13. Dec 18 Buy Timothy Matson Individual 12. Dec 18 12. Dec 18 200 €121.10 €24,221
07. Nov 18 Sell Arnoud W. Boot Individual 06. Nov 18 06. Nov 18 -620 €127.93 €-79,314
31. Jul 18 Buy John Gauthier Individual 31. Jul 18 31. Jul 18 1,000 €119.79 €119,792
X
Management checks
We assess Reinsurance Group of America's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Reinsurance Group of America has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

RGPB News

Simply Wall St News

RGPB Company Info

Description

Reinsurance Group of America, Incorporated engages in reinsurance business. It offers individual and group life and health insurance products, including term life, credit life, universal life, whole life, group life and health, joint and last survivor insurance, critical illness, disability, and longevity products, as well as asset-intensive and financial reinsurance products. The company also provides reinsurance for mortality, morbidity, lapse, and investment-related risk associated with products; and reinsurance for investment-related risks. In addition, it develops and markets technology solutions; and provides consulting and outsourcing solutions for the insurance and reinsurance industries. The company serves life insurance companies in the United States, Latin America, Canada, Europe, the Middle East, Africa, and the Asia Pacific. Reinsurance Group of America, Incorporated was founded in 1973 and is headquartered in Chesterfield, Missouri.

Details
Name: Reinsurance Group of America, Incorporated
RGPB
Exchange: DB
Founded: 1973
$8,880,422,355
62,560,064
Website: http://www.rgare.com
Address: Reinsurance Group of America, Incorporated
16600 Swingley Ridge Road,
Chesterfield,
Missouri, 63017,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NYSE RGA Common Stock New York Stock Exchange US USD 04. May 1993
DB RGPB Common Stock Deutsche Boerse AG DE EUR 04. May 1993
NYSE RZA SUB DEB 42 New York Stock Exchange US USD 27. Aug 2012
NYSE RZB SB DB FX/FL56 New York Stock Exchange US USD 10. Jun 2016
Number of employees
Current staff
Staff numbers
2,767
Reinsurance Group of America employees.
Industry
Reinsurance
Insurance
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/07/15 21:24
End of day share price update: 2019/07/15 00:00
Last estimates confirmation: 2019/07/13
Last earnings filing: 2019/05/03
Last earnings reported: 2019/03/31
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.