Reinsurance Group of America, Incorporated provides life and health, and asset-intensive reinsurance in the United States, Latin America, Canada, Europe, the Middle East, Africa, Asia, and Australia. It offers individual and group life and health, disability, long-term care, and critical illness reinsurance; and financial solutions, such as asset-intensive reinsurance, longevity reinsurance, stable value products, pension risk transfer transactions, and capital …
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Competitive advantage assessment
Key strengths
Stable Underwriting Performance Through CyclesUnderwriting stability score is 0.97, demonstrating consistent risk selection and reserving discipline through market cycles.
Consistent Capital Returns Through CyclesCapital adequacy stability is high (score 0.94), demonstrating resilience through insurance market cycles.
Key risks
Below-Peer Underwriting MarginsGross margin at 13.3th percentile and operating margin at 23.4th percentile indicate weak underwriting discipline vs peers.
Below-Peer Pricing MarginsPremium margin signal is weak (score 0.18), with operating margin at 6.5% — below peers.
The dashed ring is the peer median. Defense scores are percentile ranks
against peers, so 50 is roughly the typical company in this group.
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Reinsurance Group of America, I ranks #70 of 131
scored companies in Financials: Insurance by moat score — the top 53%.
The widest moat in the group is Marsh & McLennan Companies, Inc (MMC)
at 83/100.
Moat scores for companies ranked near RGA in Financials: Insurance
How RGA scores on the Insurance & Reinsurance defenses
Underwriting Discipline
Score 54
· 25% of the moat score
Underwriting discipline is the core insurance moat, and it consists mostly of the willingness to lose business.
Float Investment Quality
Score 55
· 20% of the moat score
Float is the money an insurer holds between collecting premiums and paying claims — capital it invests but does not own.
Pricing Power
Score 41
· 18% of the moat score
For an insurer, pricing power is the ability to push rate ahead of claims inflation and keep the policyholders anyway.
Capital Strength & Solvency
Score 62
· 17% of the moat score
Capital is what lets an insurer credibly promise to pay a claim that has not happened yet, and it is scrutinised by regulators and rating agencies alike.
Operational Efficiency
Score 34
· 12% of the moat score
The expense ratio — what it costs to acquire and administer a policy — is the half of the combined ratio management fully controls.
Scale & Diversification
Score 46
· 8% of the moat score
Diversification is a real economic advantage in insurance rather than a portfolio preference: risks spread across perils, geographies and lines are less likely to arrive at once, so the same capital supports more premium.
What is Reinsurance Group of America, I's moat score?
Reinsurance Group of America, I (RGA) scores 50 out of 100 on the StatsAlpha Moat Map, which rates its competitive advantage as developing. It ranks #70 of 131 scored companies in Financials: Insurance, the top 53%. The score is a weighted composite of 6 competitive defenses, each measured against industry peers of 136 companies in Financials: Insurance. Its strongest defense is Capital Strength & Solvency (62/100) and its weakest is Operational Efficiency (34/100).
How does Reinsurance Group of America, I compare with other Financials: Insurance companies?
Reinsurance Group of America, I ranks #70 of 131 scored companies in Financials: Insurance by moat score. The widest moat in Financials: Insurance is Marsh & McLennan Companies, Inc (MMC) at 83/100. The companies ranked closest are CNO Financial Group, Inc. (CNO) at 50 just above it and Selective Insurance Group, Inc. (SIGI) at 50 just below it.
How is the moat score calculated?
Each company is scored with an industry-specific template — Insurance & Reinsurance in this case, chosen because the defenses that matter to a bank are not the ones that matter to a software company. Every defense combines several financial signals, and each signal is measured as a percentile against a peer group of 136 companies in Financials: Insurance. The defenses are then weighted to produce the overall score out of 100.
Why is Reinsurance Group of America, I scored with the Insurance & Reinsurance template?
An insurer is paid before it knows what its product cost, and invests the money in the meantime. Profit therefore comes from two sources that must both work: pricing risk better than rivals, and earning a return on the float those premiums create. The Insurance template scores that pair, along with the capital that lets a company survive the year in which the losses arrive together.
Which competitive defenses are measured for Reinsurance Group of America, I?
The Insurance & Reinsurance template measures 6 defenses, and RGA scores: Underwriting Discipline (54), Float Investment Quality (55), Pricing Power (41), Capital Strength & Solvency (62), Operational Efficiency (34), Scale & Diversification (46). Each is scored independently as a percentile against peers, so a company can be strong on one and weak on another — the overall score reflects how those defenses are weighted for this industry.
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