Reinsurance News
Reinsurance Group of America
RGA to acquire Hodge Life Assurance Company
4th February 2021
Life and health reinsurance company, Reinsurance Group of America, Incorporated (RGA), has entered into an agreement to acquire 100% of the share capital of Hodge Limited's PRA authorised life insurer, Hodge Life Assurance Company Limited (HLAC). HLAC, which has annuity liabilities of roughly £570 million (USD 780 million), intends to stop ... Read the full article
RGA hires Ron Herrmann as EVP, Head of US & LatAm markets
4th February 2021
Reinsurance Group of America (RGA) has appointed Ron Herrmann as Executive Vice President (EVP), Head of U.S. & Latin American Markets whilst also serving as a member of the RGA Executive Committee. With over 20 years of experience in the insurance industry, he most recently served as Head of Individual Life ... Read the full article
RGA reshuffles Board of Directors
7th January 2021
Reinsurance Group of America has added Shundrawn A. Thomas to its Board of Directors. Prior to his current role, Thomas served as President and Chief Executive of Northern Trust Securities, a wholly owned subsidiary of Northern Trust Corporation. Before becoming Northern Trust Asset Management President, he served as Executive Vice President, Head ... Read the full article
RGA adds Stephen O’Hearn & Ng Keng Hooi to Board of Directors
10th September 2020
Global life and health reinsurance company, Reinsurance Group of America (RGA), has increased its number of board directors to 12 with the additions of Stephen T. O'Hearn and Ng Keng Hooi. O'Hearn, who most recently served as the Global Leader of PwC's Insurance Practice from 2015 to 2020, will join on ... Read the full article
RGA’s net income falls in Q2 as firm sees global COVID-19 claims of $300mn
5th August 2020
Life reinsurer, Reinsurance Group of America, Incorporated (RGA), saw its net income fall by $44 million in the second-quarter of 2020 to $158 million, as the firm reports global COVID-19 claims, including IBNR, of an estimated $300 million. Net income fell from the $202 million posted in Q2 2019 and for ... Read the full article
RGA agrees to sell its Dutch life insurer to De Goudse
7th July 2020
Life reinsurer, Reinsurance Group of America, Incorporated (RGA) has reached an agreement to sell its Dutch life insurance firm, Leidsche Verzekering Maatschappij N.V. (Leidsche), to De Goudse N.V., an all-round insurer. Terms of the transaction have not been disclosed and the deal remains subject to approval of the Competition Authority, De ... Read the full article
RGA falls to $88mn Q1 loss, sees above-average mortality claim frequency
6th May 2020
Reinsurance Group of America (RGA), a global provider of life reinsurance, has reported a net loss of $88 million for the first-quarter of 2020, driven primarily by movements in embedded derivatives as a result of COVID-19-induced financial market volatility and adverse impacts on credit spreads. A net loss of $88 million ... Read the full article
RGA’s net income and premiums up in Q4
29th January 2020
Global life reinsurer, Reinsurance Group of America (RGA), has reported net income and premium growth for both the fourth-quarter and full-year 2019. At $235 million, RGA's Q4 2019 net income improved by roughly 114% from the $110 million posted a year earlier, contributing to an increase in full-year net income of ... Read the full article
RGA income stable in Q2, net premiums up 7%
30th July 2019
Reinsurance Group of America (RGA) has reported net income of $202.7 million for the second quarter of 2019, consistent with its result of $204.4 million for the same period in 2018. On an adjusted basis, earnings increased modestly to $210.8 million, compared with $202.1 million in Q2 2018. Although income remained stable, ... Read the full article
Generali to sell UK life run-off portfolio to Reinsurance Group of America
24th May 2019
Italian insurer Generali has entered into an agreement with Reinsurance Group of America (RGA) for the sale of the life run-off portfolio of its UK branch. As part of the transaction, Generali has signed a reinsurance contract that will cover all claims payments arising from most of the legacy business, with ... Read the full article
Premiums, income up at RGA in Q1 2019
30th April 2019
Reinsurance Group of America (RGA) increased its net premiums to $2.7 billion in the first-quarter of 2019 when compared with the prior year quarter, as net income jumped to $169.5 million. The global life reinsurer saw its net premiums increase 6% in the quarter, with adverse net foreign currency effects of ... Read the full article
RGA strikes deal with Manulife to reinsure longevity risk of 45,000 annuitants
14th February 2019
RGA Life Reinsurance Company of Canada (RGA Canada), a subsidiary of global life and health reinsurer RGA, has announced the completion of a transaction with The Manufacturers Life Insurance Company (Manulife) that will see it reinsure longevity risk from an in-force block of Canadian group payout annuities. In aggregate, RGA Canada ... Read the full article
Reinsurance Group of America’s net income drops at Q4
29th January 2019
Reinsurance Group of America (RGA) has reported net income of $110.0 million for the fourth quarter of 2018, representing a significant drop from the $1.217 billion reported for the same period in 2017. This difference is largely attributable to the Tax Cuts and Jobs Act of 2017, which benefited RGA’s Q4 ... Read the full article
RGA adds IT and operations veteran to Board of Directors
25th January 2019
Global life and health reinsurer, Reinsurance Group of America (RGA), has announced the addition of Steven Van Wyk, currently Chief Information Officer (CIO) and Head of Technology & Innovation at PNC Financial Services Group, Inc., to its Board of Directors. Van Wyk will start his tenure as an independent director on February ... Read the full article
Reinsurance Group of America income grows, deploys more excess capital
26th October 2018
Reinsurance Group of America (RGA) has reported net income of $301.2 million for the third-quarter of 2018, up considerably from the $227.6 million reported in the prior year period. During the quarter RGA has been working hard to deploy more of the excess capital it has built up over recent years ... Read the full article
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