Leadership change Tony Cheng became President & CEO · DEF 14A, Apr 2025

Reinsurance Group of America, Incorporated ·RGA

Region-led divisional structure with Americas, EMEA, Asia P&L heads

Financials · Fortune #196 · Divisional structure · 4K employees · Chesterfield, MO

View as of:
4
CEO span
↓ tighter than peers (avg 9)
4
Avg span
moderate
2
Max depth
2 levels
2.5 yr
Avg tenure
stable vs FY2024
50%
Internal hires
near industry avg
Consolidated financials FY2025 · period end 2025-12-31 · 10-K
Revenue
$23.7B
Net income
$1.2B
Total assets
$156.6B
Shares out
66M

Sourced from Reinsurance Group of America, Incorporated DEF 14A · filed 2026-04-09 ↗ View on SEC

Interactive org chart

Reinsurance Group of America, Incorporated organizational chart

Explore the executive structure, reporting layers, and scenario-ready operating model from public filings.

Open editable chart

RGA uses a region-led divisional structure in which major geographic businesses report directly to the CEO. This page maps the executive team, highlights recent leadership changes, and analyzes how RGA’s structure compares with global reinsurance peers.

What to model

Use the chart to test org decisions, not just view reporting lines

Start with the public baseline, then use the scenario views and source-backed changes to ask what happens when leadership, span, or team ownership shifts.

Latest signal Jayson Bronchetti joined as Executive Vice President, Chief Investment Officer

Appointed effective April 15, 2026 following announced retirement of predecessor

Source · See change log

Scenario views in the chart

  • Add Chief AI Officer Introduce a Chief AI Officer to centralize analytics and underwriting automation strategy across regions.
  • Consolidate Regional Operations Shift regional heads to report through a newly empowered COO to reduce CEO span and improve coordination.

Atlas work this supports

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The people

Who's running this

5 executives identified as Named Executive Officers in the most recent SEC proxy. Bar length scales with tenure.

internal

Tony Cheng

President & Chief Executive Officer

Executive

2 yr

4 reports

Axel Andr

Executive Vice President & Chief Financial Officer

Finance

2 yr

0 reports

My Chi To

Executive Vice President, Chief Legal Officer & Corporate Secretary

Legal

1 yr

0 reports

internal

Ronald Herrmann

Executive Vice President, Head of RGA Americas

Americas Division

5 yr

0 reports

Jayson Bronchetti

Executive Vice President & Chief Investment Officer

Investments

0 yr

0 reports

The pay

Executive compensation

From the most recent DEF 14A Summary Compensation Table. 1 named executive officers disclosed. Bar length scales with total compensation.

Tony Cheng $13.1M
Base salary
$999K
Stock awards
$5.62M
Option awards
$1.88M
Non-equity incentive
$2.50M
Pension change
$352K
Other
$1.71M
Fiscal year
FY2025
Source
SEC DEF 14A ↗

The skin in the game

Beneficial ownership

Insider stock holdings and the company's ownership requirements for executives and directors. Disclosed in the most recent DEF 14A.

Stock ownership requirements

Proxy discloses existence of stock ownership guidelines but not specific multiples.

The businesses

How Reinsurance Group of America, Incorporated divides the work

3 divisions report into the group CEO. Tile size scales with estimated headcount.

RGA Americas

2K employees

EVP, Head of RGA Americas (Ronald Herrmann)

Primary operating division covering U.S. and Latin American reinsurance markets.

Finance

300 employees

EVP & CFO (Axel Andr)

Oversees financial reporting, capital management, and treasury.

Investments

200 employees

EVP & CIO (Jayson Bronchetti)

Manages the company’s global investment portfolio supporting insurance liabilities.

The thesis

Why this org is unusual

RGA is organized around regional operating divisions rather than product or functional P&Ls.

The CEO’s direct reports include the heads of major geographic businesses, notably RGA Americas, alongside core corporate functions like Finance, Legal, and Investments. This emphasizes accountability for regional profitability and capital deployment. The structure reflects RGA’s global reinsurance footprint, where regulatory regimes, client relationships, and risk profiles vary materially by geography.
  • CEO has four direct reports
  • Regional P&L leadership emphasized

The comparison

How Reinsurance Group of America, Incorporated stacks up

Compared with large life reinsurers such as Swiss Re and Munich Re, RGA’s structure is more regionally explicit, with fewer global product-line executives. Unlike some peers that centralize underwriting or product strategy, RGA places operating authority closer to local markets. This can improve responsiveness but …

C-suite size

Reinsurance Group of America, Incorporated
5
Swiss Re
10
Munich Re
9
Hannover Re
8
SCOR
9

Reporting depth

Reinsurance Group of America, Incorporated
2 levels
Swiss Re
5 levels
Munich Re
5 levels
Hannover Re
4 levels
SCOR
5 levels

Avg C-suite tenure

Reinsurance Group of America, Incorporated
3 yr
Swiss Re
6 yr
Munich Re
7 yr
Hannover Re
6 yr
SCOR
5 yr

Has COO / Has CAIO

Reinsurance Group of America, Incorporated — no COO — no CAIO
Swiss Re ✓ COO — no CAIO
Munich Re ✓ COO — no CAIO
Hannover Re — no COO — no CAIO
SCOR ✓ COO — no CAIO

Current signals

What changed recently

The most significant change was the appointment of Jayson Bronchetti as CIO following Leslie Barbi’s retirement.

  • new
    Jayson Bronchetti Executive Vice President, Chief Investment Officer

    Appointed effective April 15, 2026 following announced retirement of predecessor

    Source
  • departed
    Mark Brooks Executive Vice President, Chief Information Officer

    Resigned effective April 3, 2026

    Source

Leadership Timeline

Year-over-year executive structure based on SEC proxy and annual filings.

FY2025
DEF 14A filed 2026-04-09
CEO
Tony Cheng
CEO span
4
C-suite
5
Avg tenure
2.5 yr

Transition year with announced CIO retirement.

Named executive officers (5)
  • Tony Cheng - President & CEO since 2024
  • Axel Andr - EVP & CFO since 2024
  • My Chi To - EVP, Chief Legal Officer since 2025
  • Ronald Herrmann - EVP, Head of RGA Americas since 2020
  • Leslie Barbi - EVP & CIO since 2020
FY2024
DEF 14A filed 2025-04-10
CEO
Tony Cheng
CEO span
4
C-suite
5
Avg tenure
2 yr

First full year under new CEO.

Named executive officers (1)
  • Tony Cheng - President & CEO since 2024
FY2023
DEF 14A filed 2024-04-11
CEO
Anna Manning
CEO span
4
C-suite
5
Avg tenure
5 yr

CEO transition announced late in year.

Named executive officers (1)
  • Anna Manning - President & CEO since 2017

Year-over-year changes

FY2023 → FY2024

Leadership transitioned from Anna Manning to Tony Cheng.

  • CEO span: 4 → 4
  • C-suite size: 5 → 5
  • Avg tenure: 5 → 2 yr
  • new Tony Cheng - President & CEO (DEF 14A, Apr 2025)
FY2024 → FY2025

Investment leadership turnover with announced CIO retirement.

  • CEO span: 4 → 4
  • C-suite size: 5 → 5
  • Avg tenure: 2 → 2.5 yr
  • departed Leslie Barbi - EVP & CIO (DEF 14A, Apr 2026)

The board

Board of directors

2 directors. 1 of 2 independent (50%). Source: most recent DEF 14A.

Stephen O'Hearn

Chair Independent

Retired Global Insurance Leader, PwC

Director since 2020 · Age 65

Tony Cheng

Inside

President & CEO, RGA

Director since 2023 · Age 52

The board, organized

Board committees

1 standing committees. Audit and Compensation must be 100% independent under SEC rules; the rest vary.

Audit Committee

100% independent 9 mtgs/yr

    Frequently Asked Questions

    Who is the CEO of Reinsurance Group of America?

    Tony Cheng has served as President and CEO since January 1, 2024.

    What type of organizational structure does Reinsurance Group of America use?

    RGA uses a divisional structure organized primarily by geographic region.

    How many direct reports does Reinsurance Group of America's CEO have?

    The CEO currently has four direct executive reports.

    How has Reinsurance Group of America's leadership changed recently?

    Recent changes include the resignation of CIO Mark Brooks and the appointment of Jayson Bronchetti as CIO in April 2026.

    Who reports directly to Reinsurance Group of America's CEO?

    Direct reports include the CFO, Chief Legal Officer, Head of RGA Americas, and Chief Investment Officer.

    Sources

    • Company Proxy Statement, Apr 2026
    • 8-K Filing, Mar 20, 2026
    • SEC EDGAR: Reinsurance Group of America, Incorporated DEF 14A Proxy Statement
    • SEC EDGAR: Reinsurance Group of America, Incorporated 10-K Annual Report

    Reference

    Cite this page

    If you reference this page in research, analysis, or news writing, use one of the formats below. Citation includes the SEC filing source where applicable.

    APA 7th
    Creately. (2026). Reinsurance Group of America, Incorporated organizational structure. Creately. Retrieved , from https://creately.com/org-chart/fortune-500/reinsurance-group-of-america/
    MLA 9th
    "Reinsurance Group of America, Incorporated Organizational Structure." Creately, April 1, 2026, https://creately.com/org-chart/fortune-500/reinsurance-group-of-america/. Accessed .
    Chicago 17
    Creately. "Reinsurance Group of America, Incorporated Organizational Structure." Last modified April 1, 2026. https://creately.com/org-chart/fortune-500/reinsurance-group-of-america/.
    Original SEC source View on SEC ↗
    Reinsurance Group of America, Incorporated. DEF 14A. Filed 2026-04-09. U.S. Securities and Exchange Commission. https://www.sec.gov/Archives/edgar/data/898174/000089817426000017/rga-20260408.htm

    Permanent URL: https://creately.com/org-chart/fortune-500/reinsurance-group-of-america/ · last updated 2026-04-01

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