Reinsurance News
Reinsurance Group of America
RGA’s Chris Noyes joins PartnerRe’s US Life & Health team
17th May 2023
Chris Noyes has joined PartnerRe as a Client Partner on the firm’s US Life & Health team. He joins PartnerRe from Reinsurance Group of America (RGA) where he most recently served as Vice President of Business Development, U.S. Mortality Markets. In a statement, PartnerRe CEO, North America Life, Chris Shanahan said: “I am ... Read the full article
RGA completes transfer of HLAC to Omnilife Insurance Company
9th May 2023
Global life and health reinsurer Reinsurance Group of America (RGA) has completed the transformation of the Hodge Life Assurance Company Limited (HLAC) business that it purchased in July of 2021. According to RGA, HLAC’s insurance business was transferred to another group company, Omnilife Insurance Company Limited, under a Financial Services and ... Read the full article
RGA reports Q1 net income of $252 million as net premiums jump 7.3%
5th May 2023
Global life and health reinsurer Reinsurance Group of America (RGA) has reported Q1 net income available to RGA shareholders of $252 million, compared with $197 million in the prior-year quarter. RGA's adjusted operating income for Q1 2023 totalled $349 million, significantly higher than the $283 million disclosed in the same quarter ... Read the full article
Fitch views RGA’s market position ‘favourably’
11th April 2023
Fitch Ratings views the Reinsurance Group of America’s (RGA) entrenched market position and long track record in the global reinsurance market "favourably". This news follows Fitch's outlook revision for RGA to positive from stable. Fitch said that this outlook revision reflects RGA’s business profile improvement as the largest provider of ... Read the full article
Fitch turns positive on Reinsurance Group of America
6th April 2023
Fitch Ratings has revised Reinsurance Group of America’s outlook to positive from stable and has also affirmed its senior debt ratings at 'BBB'. The agency also announced that it has affirmed RGA Reinsurance Company's (RGA Reinsurance) IFS rating at 'A' (Strong). Fitch says that this outlook revision reflects RGA’s business profile improvement ... Read the full article
RGA reinsures JPY 153bn of statutory reserves for Daido Life
4th April 2023
Global life and health reinsurer Reinsurance Group of America (RGA) has reached an agreement with Daido Life Insurance Company, a subsidiary of T&D Holdings, to reinsure 153 Billion JPY of statutory reserves through coinsurance. Simon Armand-Smith, Vice President, Business Development, Global Financial Solutions, RGA, commented, “RGA has a long-standing partnership with ... Read the full article
Apollo to invest $500m into surplus notes issued by RGA’s Chesterfield Reinsurance
31st March 2023
Global alternative asset manager, Apollo Global Management, Inc., has closed an agreement for its affiliated companies, third-party insurance managed accounts, and other institutional clients to invest $500 million into surplus notes issued by Reinsurance Group of America's (RGA) wholly owned indirect subsidiary, Chesterfield Reinsurance Company. This bespoke, high-grade investment solution was ... Read the full article
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