Global life and health reinsurer, Reinsurance Group of America (RGA), has revealed that Tony Cheng has taken over as President of the firm from Anna Manning, who will remain as Chief Executive Officer (CEO) until her retirement at the end of 2023, with Cheng assuming the CEO role from January 1st, 2024.
Manning, who joined RGA in 2007 as Vice President, Pricing Actuary for the International Division, has served as President of the company since December 2015 and as CEO since January 2017, serving on the Board as a Director since January 2016.
Under her leadership, the reinsurer further strengthened its position as a leader in the life and health reinsurance sector and a Fortune 225 company.
Ahead of Manning’s retirement on December 31st, 2023, which is consistent with her long-held plans, RGA has appointed Cheng as President, with the Board planning to appoint him CEO effective from January of next year. The Board has also appointed Cheng to the Board of Directors effective immediately.
Currently, Cheng serves as Executive Vice President, Head of EMEA, Asia, and Australia. Previously, he served as Executive Vice President, Head of Asia following his success as the Senior Vice President, Asia Region and CEO of RGA’s Hong Kong branch. According to RGA, under Cheng’s leadership, the Asia region has experienced exceptional growth in premiums and profits.
Cheng will continue to provide executive leadership to EMEA, Asia, and Australia while assuming his new responsibilities as President of RGA, and plans to relocate to St. Louis.
Stephen O’Hearn, Chair of the RGA Board of Directors, commented: “On behalf of RGA’s Board of Directors, I would like to thank Anna for her extraordinary leadership of RGA for the last six years, for her exceptional ability to build upon and strengthen RGA’s legacy, and for her strong strategic capabilities that successfully led the organization through a pandemic of unforeseen scale in modern history.
“Tony is the right person to lead RGA into the future and to capitalize on the abundant opportunities we see ahead. It was important to the Board that we identify someone who combines vision with experience, capable of leading RGA in delivering on our financial targets and fulfilling our purpose. Tony has clearly demonstrated these qualities, as well as a passion for RGA that gives us confidence that he will continue RGA’s rich legacy.”
Manning added: “I have had the great pleasure of working closely with Tony for many years and have seen firsthand the deep respect that RGA’s senior leadership has for him. Tony’s tireless contributions over the years, combined with his strong leadership, his relentless client focus, and his innovative capabilities make him uniquely situated to lead the company into the next phase of its strategy. I am highly confident in the future of RGA under Tony’s leadership.”
Commenting on his new roles, Cheng said: “I am deeply honored by the opportunity to lead this great company to which I have dedicated my career, and for the trust and confidence placed in me by the Board of Directors.
“It is truly humbling to follow in the footsteps of Anna Manning who has been a role model of strength, integrity, and acumen, and of Greig Woodring, whose vision, client-centricity, and innovative spirit created a foundation for growth at RGA. I am fully committed to continuing the legacy built by Anna and Greig, and with the help of the tremendously talented people at RGA, I know we can build on the special culture and growth engine that has been created.”
