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Reinsurance Group of America

RGA inks longevity reinsurance deal with Athora Netherlands

9th September 2021

Global life and health reinsurer RGA has successfully completed a longevity reinsurance transaction with Athora Netherlands, a leading pension provider in the Dutch market. The transaction covers an inforce portfolio of around 46,000 individual annuity policies written by Athora in the Netherlands with total reserves of approximately €3.3 billion. As part of ... Read the full article

RGA announces higher income in 2021 as COVID-19 claims subside

4th August 2021

Global life reinsurance carrier, Reinsurance Group of America, Incorporated (RGA), has reported a higher net income, year-on-year, for both the second quarter and first half of the year, while premiums increased by 11% to $3.1 billion. Overall, RGA has announced net income of $344 million for Q2 2021, compared with $158 ... Read the full article

RGA to reinsure $1.8bn of statutory reserves from Dai-ichi Life

2nd June 2021

Life and health reinsurer, Reinsurance Group of America, has reached an agreement with The Dai-ichi Life Insurance Company to reinsure 200 billion JPY ($1.8 billion) of statutory reserves through coinsurance. The transaction took place at the end of March with additional terms of the transaction not currently being disclosed. Larry Carson, Executive ... Read the full article

Life reinsurers hit with $4.4bn of COVID-19 claims in Q1, says Bloomberg report

1st June 2021

According to a new report from Bloomberg, the cumulative cost of COVID-19 claims for the largest life reinsurers hit $4.4 billion in the first quarter of the year as mortality rates spiked. The biggest costs for life reinsurers came from the US and to a lesser extent the UK and Canada ... Read the full article

Demand for life reinsurance consistent despite pandemic: RGA COO Néemeh

13th May 2021

Despite the unprecedented impacts of the COVID-19 pandemic and elevated mortality in many parts of the world, demand for life reinsurance "continues pretty much as it has," according to Alain Néemeh, Senior Executive Vice President and Chief Operating Officer (COO) at Reinsurance Group of America (RGA). Since the arrival of the ... Read the full article

RGA posts net profit of $139mn

7th May 2021

Life reinsurer Reinsurance Group of America (RGA) has reported a net income of $139 million for Q1 2021, compared to a net loss of $88 million for the prior-year quarter. In the first quarter, consolidated net premiums totalled $2.9 billion, an increase of 3% over last year’s first quarter, with a ... Read the full article

RGA reports dip in Q4 net income; $300mn of COVID-19 claims

9th February 2021

Life reinsurer Reinsurance Group of America, Incorporated (RGA) has reported net income of $132 million for the fourth-quarter of 2020 and consolidated net premiums of $3.3 billion for the period. Net income declined for the reinsurer from the $235 million reported in Q4 2019, while net premiums increased by 9% for ... Read the full article

Anthony Hanes appointed President of RSG’s Stetson

5th February 2021

International specialty insurer Ryan Specialty Group has appointed Anthony Hanes as President of Stetson Insurance Funding. Stetson is a Ryan Specialty Group company which specialises in financing commercial and personal lines insurance premiums for the excess and surplus insurance lines industry. Hanes’ position will come into place effective of this month, with ... Read the full article

RGA to acquire Hodge Life Assurance Company

4th February 2021

Life and health reinsurance company, Reinsurance Group of America, Incorporated (RGA), has entered into an agreement to acquire 100% of the share capital of Hodge Limited's PRA authorised life insurer, Hodge Life Assurance Company Limited (HLAC). HLAC, which has annuity liabilities of roughly £570 million (USD 780 million), intends to stop ... Read the full article

RGA hires Ron Herrmann as EVP, Head of US & LatAm markets

4th February 2021

Reinsurance Group of America (RGA) has appointed Ron Herrmann as Executive Vice President (EVP), Head of U.S. & Latin American Markets whilst also serving as a member of the RGA Executive Committee. With over 20 years of experience in the insurance industry, he most recently served as Head of Individual Life ... Read the full article

RGA reshuffles Board of Directors

7th January 2021

Reinsurance Group of America has added Shundrawn A. Thomas to its Board of Directors. Prior to his current role, Thomas served as President and Chief Executive of Northern Trust Securities, a wholly owned subsidiary of Northern Trust Corporation. Before becoming Northern Trust Asset Management President, he served as Executive Vice President, Head ... Read the full article

RGA adds Stephen O’Hearn & Ng Keng Hooi to Board of Directors

10th September 2020

Global life and health reinsurance company, Reinsurance Group of America (RGA), has increased its number of board directors to 12 with the additions of Stephen T. O'Hearn and Ng Keng Hooi. O'Hearn, who most recently served as the Global Leader of PwC's Insurance Practice from 2015 to 2020, will join on ... Read the full article

RGA’s net income falls in Q2 as firm sees global COVID-19 claims of $300mn

5th August 2020

Life reinsurer, Reinsurance Group of America, Incorporated (RGA), saw its net income fall by $44 million in the second-quarter of 2020 to $158 million, as the firm reports global COVID-19 claims, including IBNR, of an estimated $300 million. Net income fell from the $202 million posted in Q2 2019 and for ... Read the full article

RGA agrees to sell its Dutch life insurer to De Goudse

7th July 2020

Life reinsurer, Reinsurance Group of America, Incorporated (RGA) has reached an agreement to sell its Dutch life insurance firm, Leidsche Verzekering Maatschappij N.V. (Leidsche), to De Goudse N.V., an all-round insurer. Terms of the transaction have not been disclosed and the deal remains subject to approval of the Competition Authority, De ... Read the full article

RGA falls to $88mn Q1 loss, sees above-average mortality claim frequency

6th May 2020

Reinsurance Group of America (RGA), a global provider of life reinsurance, has reported a net loss of $88 million for the first-quarter of 2020, driven primarily by movements in embedded derivatives as a result of COVID-19-induced financial market volatility and adverse impacts on credit spreads. A net loss of $88 million ... Read the full article

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