RGA Announces AG 48-Compliant Reserve Financing Agreement
Primary assets in this transaction originate from an affiliate of RGA, rather than from the direct insurer, in a manner that is consistent with the regulatory intent of AG 48. Other details of the transaction are not being disclosed.
“We believe this transaction marks the first AG 48-compliant captive reinsurance transaction featuring primary assets from a source other than the direct writer,” said Gary Seifert, Senior Vice President, North America, Global Financial Solutions, RGA. “Our Global Financial Solutions team worked closely with our client to find the most beneficial solution within the AG 48 framework. It is the latest example of RGA’s expertise in helping our clients meet evolving regulatory requirements in the U.S. and every other market we serve.”
Reinsurance Group of America Incorporated (“RGA”) is among the leading global providers of life reinsurance and financial solutions, with approximately $3.1 trillion of life reinsurance in force and assets of $52.2 billion as of March 31, 2016. Founded in 1973, RGA today 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 in 26 countries, 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.