CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Sep. 30, 2025		Dec. 31, 2024
Assets
Fixed maturity securities available-for-sale, at fair value (amortized cost of $104,461 and $82,907; allowance for credit losses of $161 and $98)	$ 99,573	[1]	$ 77,617	[2]
Available-for-sale Securities, Equity Securities	161		155
Mortgage loans (net of allowance for credit losses of $113 and $93)	10,507		8,839
Policy loans	3,570		1,321
Funds withheld at interest	8,268		5,436
Real Estate Investments, Joint Ventures	3,648		3,067
Short-term investments	381		363
Other invested assets	1,496		1,242
Total investments	127,604		98,040
Cash and cash equivalents	4,625		3,326
Accrued investment income	1,275		986
Premiums receivable and other reinsurance balances	4,035		3,898
Reinsurance Recoverables, Including Reinsurance Premium Paid	5,758		5,531
Deferred policy acquisition costs and other	5,954		5,543
Other assets	2,752		1,351
Total assets	152,003		118,675
Market Risk Benefit, Net Amount at Risk	238		223
Funds Held under Reinsurance Agreements, Liability	5,277		5,017
Liabilities and equity
Future policy benefits	66,389		53,368
Interest-sensitive contract liabilities	49,634		35,095
Other policy claims and benefits	3,032		2,693
Other reinsurance balances	1,600		1,316
Deferred income taxes	2,591		2,199
Other liabilities	4,440		2,816
Long-term debt	5,734		5,042
Total liabilities	138,935		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 September 30, 2025 and December 31, 2024	1		1
Additional paid-in-capital	2,628		2,600
Retained earnings	9,757		9,255
Treasury stock, at cost – 19,601,159 and 19,438,336 shares at September 30, 2025 and December 31, 2024	(1,960)		(1,889)
Accumulated other comprehensive income	2,552		849
Total RGA, Inc. shareholders’ equity	12,978		10,816
Stockholders' Equity Attributable to Noncontrolling Interest	90		90
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	13,068		10,906
Total liabilities and shareholders’ equity	$ 152,003		$ 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 September 30, 2025, the fair value of such investments was $940 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