Reinsurance News
Reinsurance Group of America
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
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
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