Reinsurance News
Reinsurance Group of America
RGA & Principal make key investment in Zoë Foundry
11th July 2024
Reinsurance Group of America (RGA) and Principal Financial Group (Principal) have partnered with Zoë Foundry, the venture studio focused on the employee benefits ecosystem, investing a combined $5 million as their lead investors. This investment from RGA and Principal will reportedly allow Zoë Foundry to expand its operations and invest further ... Read the full article
RGA agrees 200bn KRW transaction with Tongyang Life
2nd July 2024
Reinsurance Group of America, Incorporated (RGA) has reached an agreement with Tongyang Life Insurance Company for an RGA subsidiary to reinsure a 200 billion Korean Won (KRW) (USD 144m) in-force block of life policies through coinsurance, marking the first cross-jurisdictional coinsurance transaction in South Korea. According to RGA, it has pioneered ... Read the full article
Axel André named RGA’s new CFO, succeeding Todd Larson
29th May 2024
Life and health reinsurer Reinsurance Group of America (RGA) announced that Axel André will join as Executive Vice President on June 24, 2024, becoming CFO on August 5, while Todd Larson transitions to the role of Special Advisor to the CEO until his retirement on December 31, 2024. Tony Cheng, President ... Read the full article
RGA reinsures JPY 100bn life block for Anshin Life
28th May 2024
Reinsurance Group of America, Incorporated (RGA), a global life and health reinsurance company, has reached an agreement with Tokio Marine & Nichido Life Insurance Co., Ltd. (Anshin Life) to reinsure an approximately JPY 100 billion paid-up block of whole life policies through coinsurance. Gaston Nossiter, Senior Vice President, Head of Asia ... Read the full article
RGA reports increase in net premiums to $5.4bn for Q1’24
7th May 2024
Reinsurance Group of America (RGA), a global life and health reinsurer, has reported a consolidated net premium increase of 58.8% to $5.4 billion for Q1 2024. This included a $1.9 billion contribution from a single premium pension risk transfer transaction in the U.S. Financial Solutions business. The reinsurer has reported Q1 2024 ... Read the full article
RGA appoints Alison Rand to its Board
5th April 2024
Reinsurance Group of America (RGA), a global life and health reinsurer, recently announced the appointment of Alison Rand to its Board of Directors. Tony Cheng, President and CEO of RGA, praises Rand's leadership, stating, “Throughout Alison’s tenure as an executive leader, she has been a driving force behind achieving financial excellence ... Read the full article
RGA announces 700bn JPY longevity asset-intensive reinsurance transaction with Japan Post Insurance
22nd March 2024
Reinsurance Group of America (RGA) has confirmed that it has reached an agreement with Japan Post Insurance Company (Kampo) for an RGA affiliate to reinsure an approximately 700 billion JPY in-force block of individual life annuities through coinsurance. Gaston Nossiter, Senior Vice President, Head of Asia Pacific, Global Financial Solutions, RGA, ... Read the full article
LGRA and RGA complete $700mn pension risk transfer with FirstEnergy
14th March 2024
Legal & General Retirement America (LGRA) and Reinsurance Group of America (RGA) have partnered to complete a $700 million pension risk transfer (PRT) transaction with US-based FirstEnergy. The transaction will secure the retirement benefits of approximately 2,000 retirees from the investor-owned electric utilities company. LGRA is lead administrator and will be fully ... Read the full article
Prudential and RGA in $5.9bn pension risk transfer for Verizon
7th March 2024
Prudential Financial and Reinsurance Group of America (RGA) have been selected for a pension risk transfer involving Verizon Communications, settling approximately $5.9 billion of Verizon pension liabilities and providing retirement security for a population that includes 56,000 Verizon retirees and their beneficiaries. Under the terms of the transactions, Prudential and RGA ... Read the full article
RGA reports Q4’23 premium growth of 19.2%
2nd February 2024
Reinsurance Group of America (RGA), a global life and health reinsurer, has reported fourth-quarter 2023 premium growth of 19.2% over the prior-year quarter as consolidated net premiums hit $4.1 billion. Net premiums for the quarter include a $500 million contribution from a single premium pension risk transfer transaction in the U.S. ... Read the full article
RGA enters €900m reinsurance transaction with Baloise in Belgium
1st February 2024
RGA International, a subsidiary of Reinsurance Group of America, Incorporated, has entered into a reinsurance transaction with the Belgian subsidiary of Baloise Holdings AG. Cormac Galvin, Senior Vice President, Head of EMEA, Global Financial Solutions, RGA, commented, “RGA’s expansion in the Continental Europe asset-intensive reinsurance market underscores our deep expertise and ... Read the full article
RGA names Sunil Sharma as India CEO
25th January 2024
Reinsurance Group of America, Incorporated (RGA) has named Sunil Sharma as the country Chief Executive Officer (CEO) for RGA Life Reinsurance Company of Canada India Branch (RGA India). The appointment is subject to approval from the Insurance Regulatory and Development Authority of India. Arthur Ozeki, Executive Vice President, Head of Asia Pacific, ... Read the full article
RGA enters global life and health reinsurance partnership with DigitalOwl
17th January 2024
Reinsurance Group of America, Incorporated has announced a strategic investment and exclusive global life and health reinsurance partnership with insurance technology company DigitalOwl. Yuval Man, Co-Founder and CEO of DigitalOwl, commented, "With applications across numerous disciplines, including underwriting, automation, claims, and in-force analysis, DigitalOwl’s technology addresses inefficiencies that have plagued the ... Read the full article
Tony Cheng begins tenure as CEO of RGA
5th January 2024
It was announced a year ago that Tony Cheng would succeed Anna Manning, who has now left Reinsurance Group of America (RGA) after roughly 17 years of service, as Chief Executive Officer (CEO) of the life and health reinsurer. Cheng joined RGA in 1997, and took over from Manning as President ... Read the full article
RGA launches third-party life reinsurer Ruby Re
6th December 2023
Reinsurance Group of America (RGA), a global life and health reinsurer, has launched Ruby Reinsurance Company (Ruby Re), a Missouri-domiciled third-party life reinsurance company targeting US asset-intensive business. According to the announcement, Ruby Re has closed its first round of funding and secured equity capital commitments from lead investors Golub Capital, ... Read the full article
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