RGA Announces Second Dutch Longevity Transaction with Delta Lloyd
June 26 2015 - 1:30AM
Business Wire
Reinsurance Group of America, Incorporated (NYSE: RGA) announces
today the completion of a new agreement whereby RGA will provide
additional longevity risk protection and capital benefit on
reserves of approximately €12 billion to Delta Lloyd
Levensverzekering N.V., the Dutch life insurance arm of the Delta
Lloyd Group (“Delta Lloyd”). The transaction, with a duration of
eight years, is a liability replication derivative based on the
Dutch population mortality results.
“This marks RGA’s second transaction with Delta Lloyd to
mitigate a portion of Delta Lloyd’s longevity risk,” said Paul
Sauvé, Senior Vice President, Global Financial Solutions, EMEA,
RGA. “We see considerable interest in the EMEA region for proven
solutions that address the new capital requirements framework and
are actively talking to our clients about how such liability
replication strategies can be applied to similar
opportunities.”
“This is the second time Delta Lloyd has transferred a part of
its longevity exposure to the reinsurance market,” said Hans van
der Noordaa, Executive Board Chairman, Delta Lloyd. “Both
transactions, the first one was in 2014, are part of our sound and
efficient capital management. We continuously investigate options
to optimise our capital structure and strengthen our balance sheet,
through our product mix, underwriting, asset optimisation and
transactions, such as announced today.”
“With this transaction, RGA again demonstrates its ability to
implement creative and effective solutions for our clients under
changing regulatory environments,” said David Boettcher, Executive
Vice President and Chief Operating Officer, Global Financial
Solutions, RGA. “By applying our extensive knowledge of biometric
risk, we are able to offer efficient, flexible solutions that
integrate with our clients’ capital models for Solvency II as well
as address the requirements of other principles-based solvency
regimes and frameworks around the globe, such as SAM (in South
Africa), C-ROSS (in China), and SST (in Switzerland).”
About RGA
Reinsurance Group of America, Incorporated, one of the largest
global life reinsurance companies in the world, provides clients
with individual life reinsurance, individual living benefits
reinsurance, group reinsurance, health reinsurance, financial
solutions, facultative underwriting and product development. The
company serves clients from operations in Australia, Barbados,
Bermuda, Canada, China, France, Germany, Hong Kong, India, Ireland,
Italy, Japan, Malaysia, Mexico, the Netherlands, New Zealand,
Poland, Singapore, South Africa, South Korea, Spain, Taiwan,
Turkey, the United Arab Emirates, the United Kingdom, and the
United States. Worldwide, RGA has approximately $2.8 trillion of
life reinsurance in force and assets of $44.7 billion.
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version on businesswire.com: http://www.businesswire.com/news/home/20150625006469/en/
Reinsurance Group of America, IncorporatedRijn van der Linden,
+31-20-333-9013 or +31-65-063-5102Head of Business Development and
Marketing, RGA Netherlands and
Nordicsrvanderlinden@rgare.comorSally Smith, 636-736-8167Vice
President, Corporate Communicationsssmith@rgare.com
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