Global life and health reinsurer Reinsurance Group of America (RGA) has reached an agreement to reinsure statutory reserves for Taiyo Life Insurance Company (Taiyo Life), a subsidiary of T&D Holdings, Inc.
The deal will see RGA reinsure 160 billion JPY of reserves through a coinsurance agreement.
“Reinsurance transactions require a solid partnership,” said Larry Carson, Executive Vice President, Global Financial Solutions, RGA.
“We value the working relationship we have with Taiyo Life as we identified a creative, comprehensive, and customized solution to meet their capital management needs,” Carson continued.
“Coinsurance is an effective piece of RGA’s strategy for optimizing return on capital and is suitable for a wide range of life insurance needs in Japan and around the world.”
Taiyo Life also commented: “We were pleased to have a trusted partner in RGA to help reduce our risk and improve capital efficiency.”
“Through this reinsurance transaction, we are able to transfer economic risk while still maintaining a strong relationship between Taiyo Life and our policyholders.”
