Reinsurance News

Reinsurance Group of America

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

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