Reinsurance News
RGA
Prudential and RGA launch “first-in-market insurtech solutions” MedScreen+
28th October 2024
Prudential has announced the Hong Kong launch of MedScreen+, a digital underwriting tool developed in collaboration with Reinsurance Group of America, Incorporated (RGA), a global life and health reinsurer. By utilising optical character recognition (OCR) and artificial intelligence (AI) technology, RGA's MedScreen+ can reduce medical report assessment times to ... Read the full article
RGA extends coinsurance contract by KRW 150bn with Tongyang Life Insurance
24th October 2024
Reinsurance Group of America (RGA) and Tongyang Life Insurance Company have agreed to increase coverage of an existing 200 billion Korean Won (KRW) coinsurance contract, originally executed in June 2024. Under the new arrangement, coverage is expanded by an additional KRW 150 billion. The original agreement of in-force block of ... Read the full article
Asia’s growing senior population presents opportunities for insurers: RGA
17th October 2024
Growth opportunities are emerging for insurers as demand for private coverage rises among Asia's growing senior population, according to a recent report by Reinsurance Group of America, Incorporated (RGA). The report is based on a survey of 1,636 respondents aged 55 to 80 with minor health issues across China, Hong Kong, ... Read the full article
Munich Re & Swiss Re remain the world’s largest reinsurers
3rd September 2024
Reinsurance giant's Munich Re and Swiss Re remain the two largest global reinsurers across the globe according to data from ratings agency AM Best. In prior years, the agency ranked the top 50 global reinsurers in a single list, but now, with the adoption of IFRS 17, the ... Read the full article
RGA and American National Insurance announce $3.5bn coinsurance agreement
27th August 2024
Reinsurance Group of America (RGA), a provider of life and health reinsurance, has announced it has finalised a deal with American National Insurance Company, a provider of insurance and financial services, and its affiliates to reinsure a varied portfolio of life insurance business through a coinsurance arrangement. As part of the ... Read the full article
RGA’s consolidated net premiums rise by 17.5% to $3.9bn for Q2’24
2nd August 2024
In Q2 2024, Reinsurance Group of America (RGA), a global life and health reinsurer, reported a 17.5% year-over-year increase in consolidated net premiums, reaching $3.9 billion compared to $3.3 billion in the previous year. Consolidated net premiums saw an adverse net foreign currency effect of $33 million, after the exclusion of ... 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
Manulife & RGA close largest ever Canadian universal life reinsurance deal
4th April 2024
Manulife Financial Corporation has successfully closed the previously announced transaction to reinsure a low ROE Canadian Universal Life block with RGA Life Reinsurance Company of Canada. If you recall, the transaction was announced last month, with Manulife agreeing to reinsure CAD 5.8 billion (USD 4.4 billion) of reserves of ... Read the full article
Manulife & RGA complete largest ever Canadian universal life reinsurance deal
25th March 2024
Manulife Financial Corporation has agreed to reinsure CAD 5.8 billion (USD 4.4 billion) of reserves of low ROE Canadian universal life block to RGA Life Reinsurance Company of Canada. RGA Life Reinsurance Company of Canada, a subsidiary of global life and health reinsurer RGA, and the Manufacturers Life Insurance Company, a ... 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
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