Reinsurance Group of America Announces Longevity Reinsurance Transaction With Athora Netherlands
September 08 2021 - 7:00AM
Business Wire
Reinsurance Group of America, Incorporated (NYSE: RGA) a leading
global life and health reinsurer, today announced the completion of
a longevity reinsurance transaction with Athora Netherlands, a
leading pension provider in the Dutch market. The reinsurance
transaction covers an inforce portfolio of approximately 46
thousand individual annuity polices written by Athora in the
Netherlands with total reserves of approximately EUR 3.3 bln. Under
this reinsurance agreement, the longevity risk is transferred to
RGA over the full remaining term of the underlying portfolio.
“We are very pleased to have worked with Athora to complete this
transaction. This deal is representative of the guiding principles
of RGA – to work closely with our clients and partners to develop
customized solutions to help them address financial challenges and
position themselves for future growth,” said Olav Cuiper, Executive
Vice President, Head of RGA EMEA. “We are actively working to grow
our longevity business in continental Europe, and we are proud to
build on our past groundbreaking transactions in the Netherlands
and France and our strong franchise in the U.K.”
“By collaborating with RGA, we were able to use their local
market knowledge and global expertise to build an attractive
solution to meet our risk capital and management goals,” said
Etienne Comon, Chief Capital & Investment Officer, Athora
Netherlands. “Our strong partnership with RGA made the process
smooth and beneficial for both parties.”
The transaction closed on July 1, 2021 and is effective since
then. Additional terms of the transaction are not being
disclosed.
About RGA
Reinsurance Group of America, Incorporated (RGA), a Fortune 500
company, is among the leading global providers of life reinsurance
and financial solutions, with approximately $3.5 trillion of life
reinsurance in force and assets of $88.9 billion as of June 30,
2021. Founded in 1973, RGA is recognized for its deep technical
expertise in risk and capital management, innovative solutions, and
commitment to serving its clients. With headquarters in St. Louis,
Missouri, and operations around the world, RGA delivers expert
solutions in individual life reinsurance, individual living
benefits reinsurance, group reinsurance, health reinsurance,
facultative underwriting, product development, and financial
solutions. To learn more about RGA and its businesses, visit the
company’s website at www.rgare.com.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20210908005155/en/
Lynn Phillips Vice President, Corporate Communications
636-736-2351 lphillips@rgare.com
Lizzie Curry Director, Public Relations 636-736-8521
lizzie.curry@rgare.com
Jeff Hopson Senior Vice President, Investor Relations
636-736-2068 jhopson@rgare.com
Reinsurance Group of Ame... (NYSE:RGA)
Historical Stock Chart
From Mar 2024 to Apr 2024
Reinsurance Group of Ame... (NYSE:RGA)
Historical Stock Chart
From Apr 2023 to Apr 2024