CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions		Mar. 31, 2025		Dec. 31, 2024
Assets
Fixed maturity securities available-for-sale, at fair value (amortized cost of $89,709 and $82,907; allowance for credit losses of $103 and $98)		$ 84,507	[1]	$ 77,617	[2]
Available-for-sale Securities, Equity Securities		153		155
Mortgage loans (net of allowance for credit losses of $89 and $93)		9,331		8,839
Policy loans		1,284		1,321
Funds withheld at interest		5,328		5,436
Limited partnerships and real estate joint ventures		3,228		3,067
Short-term investments		454		363
Other invested assets		1,295		1,242
Total investments		105,580		98,040
Cash and cash equivalents		5,151		3,326
Accrued investment income		1,059		986
Premiums receivable and other reinsurance balances		3,749		3,898
Reinsurance ceded receivables and other		5,420		5,531
Deferred policy acquisition costs		5,649		5,543
Other assets		1,602		1,351
Total assets	[3]	128,210		118,675
Liabilities and equity
Future policy benefits		59,836		53,368
Interest-sensitive contract liabilities		36,614		35,095
Market risk benefits, at fair value		243		223
Other policy claims and benefits		2,870		2,693
Other reinsurance balances		1,291		1,316
Deferred income taxes		2,250		2,199
Funds withheld payable		4,889		5,017
Other liabilities		2,991		2,816
Long-term debt		5,734		5,042
Total liabilities		116,718		107,769
Commitments and contingent liabilities (See Note 15)
Equity
Preferred stock – par value $0.01 per share, 10,000,000 shares authorized, no shares issued or outstanding		0		0
Common stock – par value $0.01 per share, 140,000,000 shares authorized, 85,310,598 shares issued at March 31, 2025 and December 31, 2024		1		1
Additional paid-in-capital		2,608		2,600
Retained earnings		9,443		9,255
Treasury stock, at cost – 19,224,837 and 19,438,336 shares		(1,888)		(1,889)
Accumulated other comprehensive income		1,238		849
Total RGA, Inc. shareholders’ equity		11,402		10,816
Noncontrolling interest		90		90
Total equity		11,492		10,906
Total liabilities and shareholders’ equity		$ 128,210		$ 118,675

[1] Excludes limited partnerships that are measured at estimated fair value using the NAV per share (or its equivalent) as a practical expedient. As of March 31, 2025, the fair value of such investments was $963 million.

[2] Excludes limited partnerships that are measured at estimated fair value using the NAV per share (or its equivalent) as a practical expedient. As of December 31, 2024, the fair value of such investments was $966 million

[3] Capital expenditures of each reporting segment were immaterial.