RGA to Acquire Life Insurance Portfolio from PGGM
"RGA has a clear growth strategy in the Netherlands,” said Olav Cuiper, Executive Vice President, EMEA Markets, RGA. “We believe this transaction supports our long-term strategic objectives to capitalize on the realignment of the financial services industry and demonstrates our ability to provide portfolio run-off solutions in the European market.”
In accordance with the agreement, additional terms of the transaction are not being disclosed.
Reinsurance Group of America, Incorporated is one of the largest global life and health reinsurance companies in the world. The company provides clients with individual life reinsurance, individual living benefits reinsurance, group reinsurance, health reinsurance, financial solutions, facultative underwriting and product development. RGA and its subsidiaries serve 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 $2.9 trillion of life reinsurance in force and assets of $47.5 billion.