Reinsurance Group of America

Prudential and RGA entrusted to fulfill $5.9 billion in pension promises for Verizon

Retrieved on: 
Wednesday, March 6, 2024

Prudential Financial, Inc. ( NYSE: PRU ) and Reinsurance Group of America, Incorporated ( NYSE: RGA ) have been selected in a pension risk transfer involving Verizon Communications Inc.

Key Points: 
  • Prudential Financial, Inc. ( NYSE: PRU ) and Reinsurance Group of America, Incorporated ( NYSE: RGA ) have been selected in a pension risk transfer involving Verizon Communications Inc.
  • Prudential and RGA, organizations with a long history of providing lifetime income to individuals, are well positioned to meet this commitment.
  • The transaction marks the second major pension risk transfer agreement between Prudential and Verizon.
  • Prudential revolutionized the modern pension risk transfer market with its pioneering pension buyouts with General Motors and its first transaction with Verizon in 2012.

Manulife announces additions to its Board of Directors

Retrieved on: 
Tuesday, March 5, 2024

He holds a Bachelor of Commerce from Saint Mary's University and a Ph.D. in Management from Queen's University.

Key Points: 
  • He holds a Bachelor of Commerce from Saint Mary's University and a Ph.D. in Management from Queen's University.
  • Mr. Kanak is a former senior executive with deep insurance experience in Asia.
  • He served in senior executive positions at American International Group (AIG) for over 14 years before joining Prudential.
  • "Mike, Don, Anna and John bring skills and experience critical to supporting the Board of Directors' effective oversight of Manulife given its growth ambitions and strategic priorities," said Don Lindsay, Chair of the Board, Manulife.

LIBRA Insurance Partners, DigitalOwl, and RGA Announce Collaboration to Revolutionize and Enhance Efficiencies in the Informals Submission Process

Retrieved on: 
Wednesday, February 7, 2024

Dedicated specifically to addressing inefficiencies in the informals submission process, this collaboration will utilize DigitalOwl technology via RGA's facultative underwriting program.

Key Points: 
  • Dedicated specifically to addressing inefficiencies in the informals submission process, this collaboration will utilize DigitalOwl technology via RGA's facultative underwriting program.
  • "We are thrilled to announce this underwriting collaboration which provides transformative efficiencies to what is historically one of the least efficient steps in the life insurance case submission process," said William (Bill) Shelow, CLU®, ChFC®, CPCU®, LLIF, President and CEO of LIBRA.
  • "This is just the first step in our collaboration with LIBRA and RGA," reports Yuval Man, CEO of DigitalOwl.
  • Specifically, LIBRA is focused on adding value to its partners and driving quality business to its carriers, guided by three strategic pillars:
    1.

Baloise optimises the run-off portfolio in its Belgian life business

Retrieved on: 
Monday, February 5, 2024

Baloise is optimising a run-off life insurance portfolio in Belgium by entering into a reinsurance transaction with RGA International, a subsidiary of Reinsurance Group of America, Incorporated.

Key Points: 
  • Baloise is optimising a run-off life insurance portfolio in Belgium by entering into a reinsurance transaction with RGA International, a subsidiary of Reinsurance Group of America, Incorporated.
  • The portfolio comprises around 57,000 life insurance policies with reserves of some EUR 900 million.
  • As part of its active management of closed policy portfolios, Baloise is announcing the optimisation of a life insurance portfolio of its Belgian business unit by means of a reinsurance transaction with RGA International.
  • The transaction represents the next step in Baloise’s strategy for the life insurance business of focusing on modern insurance products.

RGA Executes €900 Million Asset-Intensive Reinsurance Transaction With Baloise in Belgium

Retrieved on: 
Thursday, February 1, 2024

Reinsurance Group of America, Incorporated (NYSE: RGA) today announced it has executed an asset-intensive reinsurance transaction in Continental Europe with the Belgian subsidiary of Baloise, one of the leading insurers in Belgium [Baloise Belgium NV].

Key Points: 
  • Reinsurance Group of America, Incorporated (NYSE: RGA) today announced it has executed an asset-intensive reinsurance transaction in Continental Europe with the Belgian subsidiary of Baloise, one of the leading insurers in Belgium [Baloise Belgium NV].
  • The underlying portfolio consists of approximately 57,000 individual life insurance policies with guaranteed minimum returns and total reserves of approximately €900 million.
  • “RGA’s expansion in the Continental Europe asset-intensive reinsurance market underscores our deep expertise and strong position in the European market,” said Cormac Galvin, Senior Vice President, Head of EMEA, Global Financial Solutions, RGA.
  • “RGA has demonstrated to be an excellent partner in addressing the various complexities and intricacies of the current transaction.”
    Additional terms of the transaction are not being disclosed.

Reinsurance Group of America Named to Fortune’s World’s Most Admired Companies

Retrieved on: 
Wednesday, January 31, 2024

Reinsurance Group of America, Incorporated (NYSE: RGA) has again been named to Fortune magazine’s 2024 list of the World’s Most Admired Companies.

Key Points: 
  • Reinsurance Group of America, Incorporated (NYSE: RGA) has again been named to Fortune magazine’s 2024 list of the World’s Most Admired Companies.
  • “It is both an honor and a privilege to stand once again in the ranks of the world's most admired companies.
  • Fortune collaborates with executives, directors, and industry analysts each year to rate outstanding companies within their fields according to nine criteria.
  • RGA's distinction as one of Fortune's World's Most Admired Companies reflects its strong global presence and long track record of performance.

RGA Announces Strategic Investment and Exclusive Global Life and Health Reinsurance Partnership with DigitalOwl

Retrieved on: 
Tuesday, January 9, 2024

Reinsurance Group of America, Incorporated (NYSE: RGA), a leading global life and health reinsurer, announced today a strategic investment and exclusive global life and health reinsurance partnership with DigitalOwl , an insurance technology company that utilizes advanced artificial intelligence to interpret and transform medical records into a comprehensive and interactive Digital Underwriting Abstract.

Key Points: 
  • Reinsurance Group of America, Incorporated (NYSE: RGA), a leading global life and health reinsurer, announced today a strategic investment and exclusive global life and health reinsurance partnership with DigitalOwl , an insurance technology company that utilizes advanced artificial intelligence to interpret and transform medical records into a comprehensive and interactive Digital Underwriting Abstract.
  • “For more than 50 years, RGA has been deeply committed to underwriting excellence as a cornerstone of our client value proposition.
  • Through our strategic partnership with DigitalOwl, this pursuit of excellence continues,” said Dave Rengachary, Senior Vice President, Head of Underwriting, U.S.
  • Individual Life, RGA.

Reinsurance Group of America Announces Fourth Quarter Earnings Release Date, Webcast

Retrieved on: 
Thursday, January 4, 2024

Reinsurance Group of America, Incorporated (NYSE:RGA) plans to release fourth quarter earnings on Thursday, February 1, at approximately 4:15 p.m. Eastern Time.

Key Points: 
  • Reinsurance Group of America, Incorporated (NYSE:RGA) plans to release fourth quarter earnings on Thursday, February 1, at approximately 4:15 p.m. Eastern Time.
  • RGA will host a conference call to discuss the fourth quarter results beginning at 10 a.m. Eastern Time on Friday, February 2.
  • Interested parties may access the call by dialing 1-844-481-2753 (412-317-0669 international) and asking to be joined into the Reinsurance Group of America, Incorporated (RGA) call.
  • Reinsurance Group of America, Incorporated (NYSE: RGA) is a global industry leader specializing in life and health reinsurance and financial solutions that help clients effectively manage risk and optimize capital.

AM Best Assigns Credit Ratings to RGA Life and Annuity Insurance Company; Affirms Credit Ratings of Reinsurance Group of America, Incorporated and Its Subsidiaries

Retrieved on: 
Friday, December 8, 2023

AM Best also has affirmed the Long-Term ICR of “a-” (Excellent) and all existing Long-Term Issue Credit Ratings (Long-Term IR) on the debt securities and indicative shelf ratings of Reinsurance Group of America, Incorporated (Chesterfield, MO) [NYSE: RGA].

Key Points: 
  • AM Best also has affirmed the Long-Term ICR of “a-” (Excellent) and all existing Long-Term Issue Credit Ratings (Long-Term IR) on the debt securities and indicative shelf ratings of Reinsurance Group of America, Incorporated (Chesterfield, MO) [NYSE: RGA].
  • Liquidity measures remain strong and financial leverage remains well within AM Best guidelines for the current ratings.
  • For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best's Credit Ratings .
  • AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry.

Reinsurance Group of America, Incorporated Launches Ruby Reinsurance Company

Retrieved on: 
Wednesday, December 6, 2023

Reinsurance Group of America, Incorporated (NYSE: RGA), a leading global life and health reinsurer, announced today the launch of Ruby Reinsurance Company (Ruby Re), a Missouri-domiciled third-party life reinsurance company targeting U.S. asset-intensive business.

Key Points: 
  • Reinsurance Group of America, Incorporated (NYSE: RGA), a leading global life and health reinsurer, announced today the launch of Ruby Reinsurance Company (Ruby Re), a Missouri-domiciled third-party life reinsurance company targeting U.S. asset-intensive business.
  • Ruby Re has closed its first round of funding and secured equity capital commitments from lead investors Golub Capital, Hudson Structured Capital Management Ltd. (doing its re/insurance business as HSCM Bermuda), and Sammons Financial Group.
  • Ruby Re will reinsure business from RGA and will not face clients directly.
  • “For decades, we have recognized RGA as one of our trusted partners and are excited to be a lead investor in Ruby Re,” said Esfand Dinshaw, Sammons Financial Group Chief Executive Officer.