RGA Life Reinsurance Company of Canada
President and Chief Executive Officer
About RGA Canada
Innovative, attentive and responsive – these three guiding principles are the foundation of our success and have led us to become one of the leading life reinsurers in Canada. We have grown our life reinsurance in force from less than C$20 billion in 1992 to more than C$370 billion in 2012.
RGA operates in Canada through its wholly owned subsidiary, RGA Life Reinsurance Company of Canada.
A Market Leader
We are a market leader in Canada, conducting business with virtually every life insurance company in the country. For the fifth consecutive year, in 2011 we wrote the leading share of individual life recurring new business, representing a market share greater than 30%.
RGA Canada ranked #1 in the Business Capability Index (BCI) in the NMG Consulting cedant studies in 2008, 2009/2010 and 2011. The BCI is an indicator of strong client satisfaction and retention. Our underwriting team also ranked #1 in its Business Capability Index in NMG Consulting cedant studies in 2008 and 2009/2010.
RGA introduced quota-share reinsurance in Canada, which helped move the market away from excess amount insurance. The shift to quota-share reinsurance contributed to the growth of the life reinsurance market in Canada, where today more than 70% of all new individual life risk is reinsured, up from less than 15% in 1992. Our innovative spirit continued in 2010 as we placed the first longevity transaction in the Canadian market.
World’s Leading Facultative Underwriter
When it comes to facultative reinsurance, RGA is the worldwide leader. Globally, the company reviewed more than 327,000 cases in 2012 and has reviewed more than 3 million cases since 1979. In Canada, we processed more than 39,000 facultative applications in 2012.
RGA offers innovative e-Underwriting Solutions developed by our underwriting, business and technology experts to help your organization underwrite better, faster and with greater consistency.
Our flagship underwriting product, AURA, has the strongest underwriting rules engine on the market, with thousands of underwriting rules covering impairments, medications, sports, prescription drug histories, avocations and treatments. We also offer AURA Hosted, which is particularly effective at removing barriers in bringing simplified-issue solutions to market. It can be implemented quickly, securely and easily in almost any environment.
Hands-On Training for Client Underwriters and Actuaries
At RGA Canada, we believe in the power of shared knowledge. When you partner with us, we will help your underwriters and actuaries stay abreast of the latest knowledge, research and trends through conferences and training opportunities, including RGA’s Global Underwriting Learning Framework (GULF). We also share our insight and expertise through webcasts, newsletters, white papers and articles.
Advancing the Canadian Insurance Industry
We have a strong commitment to the growth and success of the Canadian insurance industry. Our experts have played key leadership roles in supporting numerous insurance organizations and associations, including serving as the president of the Canadian Institute of Actuaries, the chair of the Canadian Life and Health Insurance Association, the chair of the Canadian Actuarial Standards Board and chair of the Canadian Reinsurance Conference.
Our associates are also active in the Canadian Institute of Underwriters, l'Association Québécoise des Tarificateurs-vie, Canadian Institute of Actuaries and Society of Actuaries.
As a Canadian life reinsurer we are regulated by the federal Office of the Superintendent of Financial Institutions (OSFI).
We invite you to contact us to find out how we can create customized reinsurance solutions for you – whether you want to bring a new product to market, improve the performance of an existing product or better manage your risk and capital through financial solutions.