Analyst Consensus ?
ConsensusHold23 ratings
Bullish1356.5%
Neutral834.8%
Bearish28.7%
Reinsurance Group of America, Incorporated · RGA · FY2026 Q1 · Calendar Q2 2026
RGA: Strong Q1 earnings, capital deployment pipeline remains key
RGA's Q1 results support a constructive operating picture: favorable claims experience, biometric and longevity demand, and a diversified transaction pipeline helped drive earnings strength. The thesis depends on continued claims favorability, disciplined capital deployment and execution of future in-force opportunities.
Reported After market closeNYSEFinancial Services
$16.29B market cap
100quality score
Earnings scorecard
Reported versus consensus
Reported EPS
$6.97
Consensus $6.03
EPS surprise
+15.6%
Reported versus consensus
Reported revenue
$6.49B
Consensus $6.47B
Revenue surprise
+0.4%
Reported versus consensus
Market reaction
event-close to next-session close
Stock move
-1.0%
Event window
SPY move
+0.8%
Same window
Abnormal move
-1.9%
Stock minus SPY
Volume
1.8×
Versus trailing sessions
Subsequent drift
-4.5%
Up to 20 sessions
RGASPY benchmark
Ask FN2 about RGA FY2026 Q1
Transcript, numbers and history already loaded
Why did RGA fall 1.0% after beating EPS estimates in FY2026 Q1?What changed in RGA's guidance and outlook in FY2026 Q1?Give me the bull and bear case for RGA after FY2026 Q1 earnings.
Free account. Your question opens in FN2 with this report's transcript and numbers attached.
Transcript intelligence
What changed
RGA deployed $338 million into in-force transactions during the quarter, primarily in Asia, repurchased $50 million of shares and highlighted a private-credit portfolio representing roughly 9% of investments. Management also reported no significant in-force management actions this quarter while describing the pipeline as strong and diversified.
Guidance delta
Maintained intermediate-term targets; management remained confident in meeting them.
Key takeaways
- Broad-based Q1 earnings strength reflected favorable claims experience across regions.
- Capital resources remained robust, with $2.4 billion of excess capital and $2.9 billion of deployable capital.
- Biometric and longevity expertise supported growth in flow and in-force business.
- The in-force transaction pipeline remained healthy, although no significant actions occurred this quarter.
Management priorities
- Maintain disciplined capital deployment alongside dividends and share repurchases.
- Complete the Ruby Re sidecar deployment and pursue additional third-party capital partners.
- Expand biometric and longevity offerings across Asia, Europe and the U.K.
- Monitor regulatory developments, including NAIC AG 55.
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Try FN2 freeEarnings History
Estimate
Beat
Miss
Match
Analyst 52W Price Targets
$253.3Current
$141Low
$222.2Average
$291High
Latest persisted target per named analyst; persisted current price from FN2's market snapshot as of Sep 28, 2026. Not an FN2 forecast.
Firm-level rating actions
FMP grade actions identify the grading firm, not a named analyst.
| Firm | Rating | Prior rating | Action | Date |
|---|---|---|---|---|
| Morgan Stanley | Equal Weight | Equal Weight | Maintain | Aug 24, 2026 |
| Wells Fargo | Overweight | Overweight | Maintain | Aug 19, 2026 |
| JP Morgan | Overweight | Overweight | Maintain | Aug 11, 2026 |
| Barclays | Overweight | Overweight | Maintain | Aug 7, 2026 |
| TD Cowen | Hold | Hold | Maintain | Jul 22, 2026 |
| Evercore ISI Group | Outperform | Outperform | Maintain | Jul 13, 2026 |
| UBS | Neutral | Neutral | Maintain | Jul 8, 2026 |
| Piper Sandler | Overweight | Overweight | Maintain | May 11, 2026 |
| Keefe, Bruyette & Woods | Outperform | Outperform | Maintain | Nov 3, 2025 |
| Raymond James | Underperform | Market Perform | Downgrade | Oct 17, 2025 |
| RBC Capital | Outperform | Outperform | Maintain | Feb 10, 2025 |
| Citigroup | Buy | Buy | Maintain | Jul 23, 2024 |
| Jefferies | Buy | Buy | Maintain | Jul 10, 2024 |
| Credit Suisse | Neutral | Neutral | Maintain | May 24, 2023 |
| Goldman Sachs | Buy | Buy | Maintain | Jan 9, 2023 |
| Wolfe Research | Underperform | Underperform | Maintain | Jan 21, 2022 |
| Keefe Bruyette & Woods | Outperform | Market Perform | Upgrade | Jul 30, 2018 |
| Deutsche Bank | Hold | Buy | Downgrade | Oct 19, 2016 |
| Macquarie | Outperform | Outperform | Maintain | Nov 4, 2015 |
| PiperJaffray | Neutral | Neutral | Maintain | Oct 30, 2015 |
| Keefe, Bruyette& Woods | Market Perform | Market Perform | Maintain | Dec 30, 2014 |
| Sterne Agee | Neutral | Neutral | Maintain | Jul 17, 2014 |
| Evercore Partners | Overweight | Equal Weight | Upgrade | Dec 19, 2012 |
Named analyst price targets
Upside is calculated against the persisted current price $253.3. FMP does not supply a rating on these named-analyst rows.
| Firm | Analyst | 52W target | Price when posted | Upside | Date |
|---|---|---|---|---|---|
| Morgan Stanley | Analyst unavailable | $250 | $245.4 | -1.3% | Aug 24, 2026 |
| Wells Fargo | Analyst unavailable | $291 | $244.42 | +14.9% | Aug 19, 2026 |
| Barclays | Analyst unavailable | $290 | $236.31 | +14.5% | Aug 7, 2026 |
| UBS | Analyst unavailable | $236 | $232.3 | -6.8% | Jul 8, 2026 |
| Barclays | Analyst unavailable | $278 | $224.08 | +9.8% | Jul 7, 2026 |
| Evercore ISI | Analyst unavailable | $267 | $215.21 | +5.4% | May 18, 2026 |
| Piper Sandler | Analyst unavailable | $261 | $210.6 | +3.0% | May 11, 2026 |
| Barclays | Analyst unavailable | $268 | $212.81 | +5.8% | May 8, 2026 |
| UBS | Analyst unavailable | $220 | $208.8 | -13.1% | Apr 9, 2026 |
| Piper Sandler | Analyst unavailable | $263 | $227.7 | +3.8% | Feb 6, 2026 |
| Barclays | Analyst unavailable | $245 | $205.99 | -3.3% | Feb 6, 2026 |
| Wells Fargo | Analyst unavailable | $238 | $202.13 | -6.0% | Jan 13, 2026 |
| Barclays | Analyst unavailable | $237 | $201.04 | -6.4% | Jan 8, 2026 |
| Piper Sandler | John Barnidge | $230 | $207.02 | -9.2% | Dec 23, 2025 |
| Morgan Stanley | Bob Huang | $208 | $205.03 | -17.9% | Dec 15, 2025 |
| Morgan Stanley | Bob Huang | $195 | $187.14 | -23.0% | Aug 18, 2025 |
| Morgan Stanley | Bob Huang | $209 | $209.71 | -17.5% | May 19, 2025 |
| UBS | Michael Ward | $216 | $199.96 | -14.7% | Apr 2, 2025 |
| Morgan Stanley | Analyst unavailable | $224 | $202.69 | -11.6% | Feb 28, 2025 |
| Barclays | Alex Scott | $255 | $219.59 | +0.7% | Sep 4, 2024 |
| Piper Sandler | John Barnidge | $237 | $218.66 | -6.4% | Sep 4, 2024 |
| Morgan Stanley | Bob Huang | $236 | $209.36 | -6.8% | Aug 19, 2024 |
| Piper Sandler | John Barnidge | $228 | $204.37 | -10.0% | Jun 10, 2024 |
| Piper Sandler | John Barnidge | $220 | $191.35 | -13.1% | Apr 5, 2024 |
| Jefferies | Suneet Kamath | $189 | $163.64 | -25.4% | Dec 10, 2023 |
| Morgan Stanley | Analyst unavailable | $160 | $146.36 | -36.8% | Jan 10, 2023 |
| Goldman Sachs | Analyst unavailable | $162 | $146.61 | -36.0% | Jan 9, 2023 |
| J.P. Morgan | Analyst unavailable | $141 | $145.56 | -44.3% | Jan 6, 2023 |
| Evercore ISI | Thomas Gallagher | $167 | $145.11 | -34.1% | Jan 5, 2023 |
| RBC Capital | Analyst unavailable | $170 | $139.23 | -32.9% | Dec 6, 2022 |
Track every rating change on RGA the moment it posts. Free to start.
Start freeCompany context
Snapshot as of publicationReinsurance Group of America, Inc. (RGA) primarily operates within the reinsurance sector. The company delivers a comprehensive portfolio of life and health reinsurance products, spanning both individual and group coverages. These include diverse life insurance options such as term, credit, universal, whole, and joint/last survivor policies, in addition to critical illness, disability, and longevity products. RGA also offers specialized asset-intensive and financial reinsurance, alongside other solutions focused on capital optimization.…
Historical context
All RGA earningsFinancial Services peers this season
Latest reports in the same sector| Company | Quarter | EPS surprise | Market move | Headline |
|---|---|---|---|---|
| PUK Prudential plc | FY2026 Q2 · Calendar Q3 2026 | -40.9% | -0.5% | Prudential sustains growth and capital returns focus in H1 2026 |
| CM Canadian Imperial Bank of Commerce | FY2026 Q3 · Calendar Q3 2026 | +8.9% | -2.8% | CIBC Q3: Broad growth, resilient credit and expanded AI rollout |
| TD The Toronto-Dominion Bank | FY2026 Q3 · Calendar Q3 2026 | +13.8% | +1.4% | TD emphasizes growth investments alongside disciplined capital management |
| RY Royal Bank of Canada | FY2026 Q3 · Calendar Q3 2026 | +6.2% | -1.3% | RBC reports record Q3 earnings while investing for growth |
| AFRM Affirm Holdings, Inc. | FY2026 Q4 · Calendar Q3 2026 | +1230.3% | +0.3% | Affirm's most profitable quarter shifts focus to product execution |
Latest beats and misses
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Get the RGA recap when the next report posts
One email per quarter with the scorecard, the market reaction and what changed on the call. No account needed.
Sources
- Earnings call transcript and parsed analysis · 2026-05-11T10:29:34.698584+00:00
- FN2 earnings calendar · 2026-07-26T00:37:12.209961+00:00
- Polygon adjusted daily market bars · 2026-09-28T17:20:57.717708+00:00
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-09-28T17:20:57.714776+00:00
Methodology
Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.
Analyst target low, average, and high values are derived at request time from each named analyst's latest persisted FMP target. The current-price marker comes from FN2's persisted market snapshot. They are sell-side estimates, not an FN2 valuation or recommendation.
Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.
By FN2 Research · Updated · As of 2026-09-28. For educational purposes only; not investment advice.