RGA Announces Full Redemption of \$400 Million Subordinated Debentures Due 2056

Key Points of the Announcement

• Reinsurance Group of America, Incorporated (NYSE: RGA) has announced the redemption of all its outstanding \$400 million aggregate principal amount of 5.75% Fixed-to-Floating Rate Subordinated Debentures due 2056 (CUSIP No. 759351 8, ISIN US7593518027).
• The debentures, listed under the symbol “RZB” on the New York Stock Exchange, will be redeemed in full on June 15, 2026.
• The redemption price will be equal to 100% of the outstanding principal amount, plus accrued and unpaid interest up to, but excluding, the Redemption Date.
• Interest will cease to accrue after the Redemption Date for these debentures.
• The official notice of redemption will be delivered to holders by The Bank of New York Mellon Trust Company, N.A., who acts as trustee.

Important Information for Shareholders and Investors

• This redemption may impact RGA’s capital structure and leverage ratios. By retiring \$400 million of subordinated debt, the company may improve its balance sheet, reduce future interest expenses, and potentially enhance its credit profile.
• Potential Share Price Impact: The redemption could positively affect the share price if investors view this as a sign of financial strength, prudent capital management, or a reduction in risk. However, investors should monitor for any subsequent capital or strategic actions by RGA.
• Holders of the 2056 Debentures will receive the full principal plus accrued interest but should note that the debentures will be delisted and will no longer accrue interest after June 15, 2026.
• This action does not constitute an official notice of redemption. The full terms and conditions will be outlined in the notice distributed to holders and by the trustee.

Company Overview

Reinsurance Group of America, Incorporated is a global leader in life and health reinsurance and financial solutions. Founded in 1973, RGA is among the world’s largest and most respected reinsurers. The company is guided by its mission to make financial protection accessible to all and is known for innovation, execution, and client focus. As of December 31, 2025, RGA had approximately \$4.3 trillion of life reinsurance in force and total assets of \$156.6 billion.

Forward-Looking Statements and Risks

The company cautions that this release contains forward-looking statements subject to various risks and uncertainties. These include changes in mortality, morbidity, policyholder behavior, investment returns, interest rates, expenses, and regulatory environment; the impact of economic and geopolitical conditions; competitive factors; adoption of artificial intelligence; and risks associated with acquisitions and integration. These factors can materially affect future results and performance.

Investors are advised to consider these risks and uncertainties as outlined in RGA’s annual and quarterly reports filed with the SEC.

Investor Contact

For more information, investors can contact:
Jeff Hopson
Senior Vice President, Investor Relations
[email protected]
636-736-2068

Disclaimer: This article contains forward-looking statements and is intended for informational purposes only. Investors should review official notices and SEC filings for complete information and consult their financial advisors before making investment decisions. The company does not undertake any obligation to update forward-looking statements even if circumstances change in the future.

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