Reinsurance Group of America, Incorporated Opens Life Reinsurance Office in Germany
The RGA International Reinsurance Company Limited German Representative Office will promote RGA’s global reinsurance expertise and solutions to local life insurance companies. The office will focus its marketing attention on traditional automatic and facultative life reinsurance services as well as product development support, and providing customized reinsurance solutions to clients in Germany, Austria and Switzerland. The Representative Office will be managed by Christoph Ludemann, who brings 25 years of experience in the life reinsurance industry to this position.
"Setting up a local operation in Germany is a key step to our continued efforts in improving the service we provide to our clients located in Germany, Austria and Switzerland. We look forward to building stronger partnerships in helping our clients achieve their strategic and financial objectives,” says Greig Woodring, President and Chief Executive Officer, Reinsurance Group of America, Incorporated. “RGA is acknowledged for its success in leveraging its global knowledge and innovations to each of our clients. We are confident that our experienced local leadership will bring those same standards of success to these markets."
Ludemann adds, "These life reinsurance markets have recently experienced a number of mergers and acquisitions. Life companies, however, tend to diversify their life reinsurance placements to manage risk, so there is a great deal of potential in these markets for RGA, a leading global provider of underwriting services and facultative support."
Reinsurance Group of America, Incorporated, through its various operating subsidiaries, is among the largest global providers of life reinsurance. In addition to its U.S. operations, Reinsurance Group of America, Incorporated now has subsidiary companies or offices in Australia, Barbados, Bermuda, Canada, China, France, Germany, Hong Kong, India, Ireland, Italy, Japan, Mexico, Poland, South Africa, South Korea, Spain, Taiwan, and the United Kingdom. Worldwide, the company reported assets of $21.5 billion and net premiums of $4.9 billion at December 31, 2007. Its subsidiary, RGA International Reinsurance Company, is rated “AA-“ (Very Strong) by Standard & Poor’s Insurance Ratings.