Reinsurance News
Reinsurance Group of America
Michele Bang joins RGA’s Board of Directors
2nd October 2023
Leading global life and health reinsurance firm, Reinsurance Group of America, Incorporated (RGA), has appointed Michele Bang to its Board of Directors A highly experienced veteran across the industry, Bang previously served as the Deputy Chief Executive Officer of Eastspring Investments, the Asia asset management arm of Prudential plc. During her tenure ... Read the full article
Munich Re ranked largest reinsurer for third year running by AM Best
22nd August 2023
After taking the top spot from Swiss Re in 2020, the latest data from ratings agency AM Best confirms that German reinsurer Munich Re remains the world's largest reinsurance company when ranked by gross life and non-life premiums written in 2022. With reinsurance gross premiums written (GPW) of ... Read the full article
BT Pension Scheme completes £5bn longevity swap with RGA
1st August 2023
The BT Pension Scheme (BTPS) has entered into a longevity reinsurance arrangement with Reinsurance Group of America (RGA) which will further protect BTPS from the cost of unexpected increases in the life expectancy of its members. As mentioned, the arrangement covers £5bn of BTPS pensioner liabilities and follows the £16bn ... Read the full article
LGRA & RGA enter into $309m PRT transaction with PPG
31st May 2023
Legal & General Retirement America (LGRA) & Reinsurance Group of America (RGA) have entered into a $309 million pension risk transfer (PRT) transaction with PPG. PPG is a Pittsburgh-based Fortune 500 global leader in manufacturing paints, coatings and specialty materials. The lift-out covers over 4,000 retirees and beneficiaries with benefits under a ... Read the full article
RGA’s Chris Noyes joins PartnerRe’s US Life & Health team
17th May 2023
Chris Noyes has joined PartnerRe as a Client Partner on the firm’s US Life & Health team. He joins PartnerRe from Reinsurance Group of America (RGA) where he most recently served as Vice President of Business Development, U.S. Mortality Markets. In a statement, PartnerRe CEO, North America Life, Chris Shanahan said: “I am ... Read the full article
RGA completes transfer of HLAC to Omnilife Insurance Company
9th May 2023
Global life and health reinsurer Reinsurance Group of America (RGA) has completed the transformation of the Hodge Life Assurance Company Limited (HLAC) business that it purchased in July of 2021. According to RGA, HLAC’s insurance business was transferred to another group company, Omnilife Insurance Company Limited, under a Financial Services and ... Read the full article
RGA reports Q1 net income of $252 million as net premiums jump 7.3%
5th May 2023
Global life and health reinsurer Reinsurance Group of America (RGA) has reported Q1 net income available to RGA shareholders of $252 million, compared with $197 million in the prior-year quarter. RGA's adjusted operating income for Q1 2023 totalled $349 million, significantly higher than the $283 million disclosed in the same quarter ... Read the full article
Fitch views RGA’s market position ‘favourably’
11th April 2023
Fitch Ratings views the Reinsurance Group of America’s (RGA) entrenched market position and long track record in the global reinsurance market "favourably". This news follows Fitch's outlook revision for RGA to positive from stable. Fitch said that this outlook revision reflects RGA’s business profile improvement as the largest provider of ... Read the full article
Fitch turns positive on Reinsurance Group of America
6th April 2023
Fitch Ratings has revised Reinsurance Group of America’s outlook to positive from stable and has also affirmed its senior debt ratings at 'BBB'. The agency also announced that it has affirmed RGA Reinsurance Company's (RGA Reinsurance) IFS rating at 'A' (Strong). Fitch says that this outlook revision reflects RGA’s business profile improvement ... Read the full article
RGA reinsures JPY 153bn of statutory reserves for Daido Life
4th April 2023
Global life and health reinsurer Reinsurance Group of America (RGA) has reached an agreement with Daido Life Insurance Company, a subsidiary of T&D Holdings, to reinsure 153 Billion JPY of statutory reserves through coinsurance. Simon Armand-Smith, Vice President, Business Development, Global Financial Solutions, RGA, commented, “RGA has a long-standing partnership with ... Read the full article
Apollo to invest $500m into surplus notes issued by RGA’s Chesterfield Reinsurance
31st March 2023
Global alternative asset manager, Apollo Global Management, Inc., has closed an agreement for its affiliated companies, third-party insurance managed accounts, and other institutional clients to invest $500 million into surplus notes issued by Reinsurance Group of America's (RGA) wholly owned indirect subsidiary, Chesterfield Reinsurance Company. This bespoke, high-grade investment solution was ... Read the full article
RGA and RenRe to wind down life & annuity reinsurer Langhorne Re
15th February 2023
Langhorne Re, the global reinsurer targeting large in-force life and annuity blocks launched in 2018 by Reinsurance Group of America (RGA) and RenaissanceRe (RenRe), is being wound down as it failed to complete any deals and its capital commitments expired without renewal, as first reported by our sister publication Artemis. Read the full article
RGA’s Manning to retire at end of 2023; Cheng named as successor
4th January 2023
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 ... Read the full article
RGA names Grandmont VP, Strategic Underwriting Initiatives
29th December 2022
Reinsurance Group of America (RGA) has appointed Scott Grandmont as Vice President (VP) Strategic Underwriting Initiatives. The role will see Grandmont lead a diverse group of underwriting, actuarial, technology, and client engagement professionals responsible for underwriting innovation, research & development, program design and refinement, new capabilities, as well as underwriting transformation ... Read the full article
RGA reports net premium growth in Q3 2022
4th November 2022
Reinsurance Group of America (RGA) is reporting that its net premiums in Q3 2022 grew to $3,247m from $3,094m in the same quarter in the preceding year. The firm said in a statement accompanying its latest figures that net income to its shareholders in Q3 reached $284m, up from a loss ... Read the full article
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