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
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