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RGA in £900mn asset and longevity transaction with LV=

19th December 2017 - Author: Luke Gallin

Global, U.S.-based life reinsurance company, Reinsurance Group of America, Incorporated (RGA), has completed a £900 million (US$1.2bn) asset and longevity risk transaction with Liverpool Victoria Friendly Society (LV=).

Longevity imageThe transaction sees RGA reinsure roughly £900 million in individual annuity business, while no additional terms of the transaction are being disclosed.

Executive Vice President (EVP), Global Financial Solutions at RGA, John Laughlin, said the deal supports the firm’s goal to grow its asset-intensive partnerships across the European marketplace.

“Creating an innovative structure allowed RGA to develop an attractive longevity, risk, and asset strategy that provides significant capital and risk benefit for LV=,” continued Laughlin.

Mark Laidlaw, Chief Capital and Investment Officer at LV=, added; “This transaction is a key part of the risk management and capital efficiency programme LV= has been running for a number of years which is focused on reducing volatility of our Solvency II balance sheet and member outcomes.”

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