Reinsurance News

Reinsurance Group of America

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

RGA appoints Stephen T. O’Hearn as Board Chair

15th September 2022

The Reinsurance Group of America has announced the appointment of Stephen T. O’Hearn as Chair of the Board of Directors after J. Cliff Eason's retirement from the position. Eason is set to retire on December 31st, 2022, with O’Hearn assuming the role on January 1st, 2023. O’Hearn spent 38 years with PwC, ... Read the full article

Munich Re remains the world’s largest reinsurance company

17th August 2022

After taking the top spot last year, global reinsurer Munich Re remains the world's largest reinsurance company, with gross life & non-life reinsurance premiums written of more than $46.8 billion in 2021, as shown by our directory of the Top 50 Global Reinsurance Groups. The directory is ... Read the full article

RGA saw premiums grow 4.3% in Q2 2022 despite net income fall

5th August 2022

Global provider of life reinsurance, Reinsurance Group of America (RGA) reported a growth in premiums of 4.3% over last year’s second quarter despite a fall in its net income. Additionally, COVID-19 claim costs came down considerably in Q2 2022. RGA reported that the global estimated impact of COVID-19 would be approximately ... Read the full article

Reinsurance Group of America saw premiums grow 8.3% in Q1 2022

6th May 2022

Reinsurance Group of America (RGA) is reporting a growth in premiums of 8.3% between Q1 2021 and Q1 2022. The firm, in its latest results, said that the global estimated impact of Covid-19 would be $310m on a pre-tax basis. It also said that first quarter consolidated net premiums totalled $3.2bn, ... Read the full article

RGA to reinsure 160bn JPY of Taiyo Life reserves

7th April 2022

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," ... Read the full article

RGA buys minority investment in Velocity

25th March 2022

Reinsurance Group of America (RGA) has made a minority investment in Velocity Capital Advisers through a wholly owned subsidiary. In addition, the firm said it had entered into a long-term investment management agreement on behalf of one or more subsidiaries of RGA. Velocity has AUM of nearly $1.5bn. Leslie Barbi, executive vice ... Read the full article

Reinsurance Group of America declares Covid impact ‘manageable’

8th February 2022

Reinsurance Group of America has deemed the impacts of the Covid-19 pandemic on its latest Q4 and full-year results to be ‘manageable’. Speaking in an earnings call, Todd Larson, the organisation’s senior executive vice president and CFO, said that its ‘well-diversified global, strong balance sheet, and underlying earnings power positions’ would ... Read the full article

RGA’s full year net income rises despite $1.4bn in COVID-19 claims

4th February 2022

U.S life reinsurance company, Reinsurance Group of America (RGA), has reported net income of $617 million for the full year 2021 in spite of pre-tax COVID-19 claims of around $1.4 billion. Year-on-year, RGA's 2021 net income swelled by more than 48%, while operating income fell dramatically, from $496 million in 2020 ... Read the full article

RGA & Amazon partner on FAC optimisation solution

25th January 2022

Global life and health reinsurer Reinsurance Group of America (RGA) has announced the launch of its FAC Optimization solution featuring Amazon Textract, a machine learning service from Amazon Web Services (AWS). By integrating machine learning and natural language processing technology into the underwriting process, RGA is looking to improve risk selection ... Read the full article

RGA elects George Nichols to its Board of Directors

22nd December 2021

Reinsurance Group of America (RGA), a global life and health reinsurance company, has elected George Nichols III to its Board of Directors, effective January 1st, 2022. Currently, Nichols serves as the President and Chief Executive Officer (CEO) of The American College of Financial Services. Prior to this, he spent 17 years with ... Read the full article

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