RGA to Acquire $22 Billion Block of U.S. Term Life Reinsurance from XL Group plc
“This transaction supports RGA’s strategy of deploying capital by acquiring run-off life insurance blocks,” said Anna Manning, President, RGA. “Our deep expertise and understanding of the life reinsurance market has provided us with the tools to secure an innovative solution for XL. We are pleased to announce the completion of the transaction.”
The transaction is effective immediately. Other details 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 $2.8 trillion of life reinsurance in force and assets of $47.6 billion.