Reinsurance Group of America (RGA) investor relations material

Strategic priorities and growth outlook

• Focus remains on delivering 8%-10% EPS growth and 13%-15% ROE, leveraging local presence and biometric expertise for balanced, disciplined growth.

• Enhancing investor communications and transparency around value creation and business mix is a key priority.

• Third-party capital, including sidecars like Ruby Re, is central to capital management and future growth.

• Selectivity in transactions and disciplined capital allocation underpin growth and risk management.

Competitive environment and business mix

• Global footprint enables exclusive client relationships, especially in Asia and the Americas, reducing direct competition.

• In EMEA, particularly the UK, longevity business is significant, with pipelines improving after a slow start in 2026.

• Selectivity in large block transactions and focus on biometric and asset mix differentiate the business.

Mortality trends and medical advancements

• Favorable mortality experience in key markets is attributed to strong risk selection and possible post-COVID effects.

• Medical advancements, especially GLP-1 drugs, are factored into long-term assumptions, boosting confidence in projections.

• Ongoing research and global collaboration support robust assumption setting.