RZB: the cash flow

Cash Flow Overview

Change in Cash

$825M

Unit: Million (M) dollars

Positive Cash Flow Breakdown

Negative Cash Flow Breakdown

Cash Flow

2026-03-31

2025-12-31

2025-09-30

Net income available to rga, inc. shareholders

1,182

Accrued investment income

123

Premiums receivable and other reinsurance balances

422

Deferred policy acquisition costs and other

441

Reinsurance ceded receivables and other

-67

Future policy benefits, other policy claims and benefits and other reinsurance balances

4,347

Provision for income taxes

351

Decrease in funds withheld net of reinsurance recoverable and deposit receivable

228

Other assets and other liabilities, net

388

Amortization of net investment premiums, discounts and other

271

Income from limited partnerships and real estate joint ventures

193

Investment related losses, net

-245

Increase (decrease) in future policy benefit reserves

Market risk benefit, increase (decrease) from equity market change

-8

Depreciation and amortization expense

Other, net

Cash provided by (used in) operating activity, including discontinued operation

-2,873

7,330

-3,239

Sales of fixed maturity securities available-for-sale

9,596

6,883

20,807

Purchases of fixed maturity securities available-for-sale

13,149

9,907

27,838

Maturities of fixed maturity securities available-for-sale

326

310

929

Sales of equity securities

Payments to acquire available-for-sale securities, equity

149

Principal payments on mortgage loans

373

319

611

Cash invested in mortgage loans

603

929

2,246

Net deposits in funds withheld at interest

224

305

Sales of limited partnerships and real estate joint ventures

136

210

336

Purchases of limited partnerships and real estate joint ventures

436

232

841

Sales of short-term investments

251

155

859

Purchases of short-term investments

358

326

1,204

Maturities of short-term investments

140

211

503

Change in other invested assets

219

Payments to acquire notes receivable

1,012

Proceeds from sale and collection of notes receivable

Other, net

-13

-18

-125

Net cash used in investing activities

-3,697

-3,270

-8,824

Dividends to shareholders

179

Proceeds from long-term debt issuance, net

395

691

Principal payments of long-term debt

Purchases of treasury stock

113

Proceeds from issuance or sale of equity

Change in cash collateral for derivatives and repurchase/reverse repurchase agreements

-199

-311

1,222

Change in deposit asset on reinsurance

144

Deposits on investment-type policies and contracts

2,990

3,730

8,367

Withdrawals on investment-type policies and contracts

1,412

1,323

3,320

Net cash provided by financing activities

1,666

1,985

6,813

Effect of exchange rate changes on cash

-17

-24

Cash and cash equivalents, period increase (decrease)

825

-457

1,299

Cash and cash equivalents, beginning of period

4,625

3,326

Cash and cash equivalents at end of period

4,625

Change in cash and cash equivalents

4,168

Time Plot

Show the time plot by selecting a row from the table.

Cash Flow Overview

Change in Cash

$825M

Unit: Million (M) dollars

Positive Cash Flow Breakdown

Negative Cash Flow Breakdown

Cash Flow

2026-03-31

2025-12-31

2025-09-30

Net income available to rga, inc. shareholders

1,182

Accrued investment income

123

Premiums receivable and other reinsurance balances

422

Deferred policy acquisition costs and other

441

Reinsurance ceded receivables and other

-67

Future policy benefits, other policy claims and benefits and other reinsurance balances

4,347

Provision for income taxes

351

Decrease in funds withheld net of reinsurance recoverable and deposit receivable

228

Other assets and other liabilities, net

388

Amortization of net investment premiums, discounts and other

271

Income from limited partnerships and real estate joint ventures

193

Investment related losses, net

-245

Increase (decrease) in future policy benefit reserves

Market risk benefit, increase (decrease) from equity market change

-8

Depreciation and amortization expense

Other, net

Cash provided by (used in) operating activity, including discontinued operation

-2,873

7,330

-3,239

Sales of fixed maturity securities available-for-sale

9,596

6,883

20,807

Purchases of fixed maturity securities available-for-sale

13,149

9,907

27,838

Maturities of fixed maturity securities available-for-sale

326

310

929

Sales of equity securities

Payments to acquire available-for-sale securities, equity

149

Principal payments on mortgage loans

373

319

611

Cash invested in mortgage loans

603

929

2,246

Net deposits in funds withheld at interest

224

305

Sales of limited partnerships and real estate joint ventures

136

210

336

Purchases of limited partnerships and real estate joint ventures

436

232

841

Sales of short-term investments

251

155

859

Purchases of short-term investments

358

326

1,204

Maturities of short-term investments

140

211

503

Change in other invested assets

219

Payments to acquire notes receivable

1,012

Proceeds from sale and collection of notes receivable

Other, net

-13

-18

-125

Net cash used in investing activities

-3,697

-3,270

-8,824

Dividends to shareholders

179

Proceeds from long-term debt issuance, net

395

691

Principal payments of long-term debt

Purchases of treasury stock

113

Proceeds from issuance or sale of equity

Change in cash collateral for derivatives and repurchase/reverse repurchase agreements

-199

-311

1,222

Change in deposit asset on reinsurance

144

Deposits on investment-type policies and contracts

2,990

3,730

8,367

Withdrawals on investment-type policies and contracts

1,412

1,323

3,320

Net cash provided by financing activities

1,666

1,985

6,813

Effect of exchange rate changes on cash

-17

-24

Cash and cash equivalents, period increase (decrease)

825

-457

1,299

Cash and cash equivalents, beginning of period

4,625

3,326

Cash and cash equivalents at end of period

4,625

Change in cash and cash equivalents

4,168

Time Plot

Show the time plot by selecting a row from the table.