RGA and AXA France Announce Signing of Longevity Transaction
PARIS, Nov. 9, 2016 – Reinsurance Group of America, Incorporated (NYSE: RGA) and AXA France today announced that they have entered into a reinsurance agreement covering more than 15,000 annuitants and related commitments of nearly €1.3 billion.
“Through this transaction, RGA again demonstrates its ability to implement effective solutions that mitigate longevity risk under changing regulatory environments,” said John Laughlin, Executive Vice President, Global Financial Solutions, RGA.
“With this second swap, AXA France continues to secure its obligations associated with longevity, and reinforces its lead as the only insurance player in France to enter into such transactions,” said Jacques de Peretti, Chief Executive Officer, AXA France.
About RGA:
Reinsurance Group of America, Incorporated(NYSE: RGA) is among the leading global providers of life reinsurance and financial solutions, with operations in 26 countries and assets of $54.8 billion as of September 30, 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. To learn more about RGA and its businesses, visit the company’s website.
About AXA France / AXA Epargne Retraite Entreprise:
The AXA Group is a worldwide leader in insurance and asset management. In France 34,000 people are providing services and support to 9 million customers. AXA Corporate Retirement Savings specializes in implementing long term retirement savings plans for corporate clients. It is the leading provider in France with a 20% market share based on assets under management and also has international business outside of France.
“Through this transaction, RGA again demonstrates its ability to implement effective solutions that mitigate longevity risk under changing regulatory environments,” said John Laughlin, Executive Vice President, Global Financial Solutions, RGA.
“With this second swap, AXA France continues to secure its obligations associated with longevity, and reinforces its lead as the only insurance player in France to enter into such transactions,” said Jacques de Peretti, Chief Executive Officer, AXA France.
About RGA:
Reinsurance Group of America, Incorporated(NYSE: RGA) is among the leading global providers of life reinsurance and financial solutions, with operations in 26 countries and assets of $54.8 billion as of September 30, 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. To learn more about RGA and its businesses, visit the company’s website.
About AXA France / AXA Epargne Retraite Entreprise:
The AXA Group is a worldwide leader in insurance and asset management. In France 34,000 people are providing services and support to 9 million customers. AXA Corporate Retirement Savings specializes in implementing long term retirement savings plans for corporate clients. It is the leading provider in France with a 20% market share based on assets under management and also has international business outside of France.