RGA Q1 2026: Net income +15% to $330M as Equitable deal adds $39M; FABN debt up $2B

Filed May 8, 2026 · Period ending March 31, 2026 · Compared to 10-Q May 2, 2025 · ~2 min read

Key Changes

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  Equitable Holdings reinsurance transaction closed July 2025, adding $12B in liabilities and contributing $39M to Q1 2026 income. Life reinsurance in force grew 7.5% YoY to $4.3T while total assets rose 28% to $164.1B.

  MD&A: Equitable Holdings transaction verify on EDGAR →
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  Net income rose 15% YoY to $330M ($4.98 per share) driven by the Equitable deal and higher investment yields (4.93% vs 4.64%), though investment losses doubled to $170M from portfolio repositioning.

  MD&A: Net income and investment results verify on EDGAR →
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  Funding Agreement Backed Notes outstanding surged 53% from $3.8B to $5.8B, materially increasing wholesale funding and interest-rate exposure to support investment commitments.

  Legal Proceedings: FABN outstanding verify on EDGAR →