CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Jun. 30, 2025		Dec. 31, 2024
Assets
Fixed maturity securities available-for-sale, at fair value (amortized cost of $91,888 and $82,907; allowance for credit losses of $132 and $98)	$ 86,043	[1]	$ 77,617	[2]
Available-for-sale Securities, Equity Securities	155		155
Mortgage loans (net of allowance for credit losses of $107 and $93)	10,057		8,839
Policy loans	1,294		1,321
Funds withheld at interest	7,115		5,436
Real Estate Investments, Joint Ventures	3,338		3,067
Short-term investments	502		363
Other invested assets	1,397		1,242
Total investments	109,901		98,040
Cash and cash equivalents	5,416		3,326
Accrued investment income	1,089		986
Premiums receivable and other reinsurance balances	4,202		3,898
Reinsurance Recoverables, Including Reinsurance Premium Paid	5,386		5,531
Deferred policy acquisition costs	5,823		5,543
Other assets	1,662		1,351
Total assets	133,479		118,675
Market Risk Benefit, Net Amount at Risk	233		223
Funds Held under Reinsurance Agreements, Liability	4,816		5,017
Liabilities and equity
Future policy benefits	63,531		53,368
Interest-sensitive contract liabilities	37,158		35,095
Other policy claims and benefits	3,016		2,693
Other reinsurance balances	1,353		1,316
Deferred income taxes	2,454		2,199
Other liabilities	3,041		2,816
Long-term debt	5,734		5,042
Total liabilities	121,336		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 June 30, 2025 and December 31, 2024	1		1
Additional paid-in-capital	2,624		2,600
Retained earnings	9,563		9,255
Treasury stock, at cost – 19,219,071 and 19,438,336 shares	(1,887)		(1,889)
Accumulated other comprehensive income	1,752		849
Total RGA, Inc. shareholders’ equity	12,053		10,816
Stockholders' Equity Attributable to Noncontrolling Interest	90		90
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	12,143		10,906
Total liabilities and shareholders’ equity	$ 133,479		$ 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 June 30, 2025, the fair value of such investments was $954 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