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 RGA Canada 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, reflecting our core strategy of building strong client relationships and focusing on providing our valued partners with excellent customer service.
RGA operates in Canada through its wholly owned subsidiary, RGA Life Reinsurance Company of Canada.
A Market Leader
RGA is a market leader in Canada, conducting business with virtually every life insurance company in the country. For the sixth consecutive year, in 2012 we wrote the leading share of individual life recurring new business, representing a one-third share of the Canadian marketplace.
RGA Canada was ranked #1 in the 2012 Business Capability Index (BCI) in the NMG Consulting cedant studies for the fourth consecutive survey. The 2012 study rated RGA Canada first in both individual and group life and health businesses and emphasized clients’ recognition of RGA Canada as a reinsurance leader in living benefits.
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 65% of all new individual life risk is reinsured, up from less than 15% in 1992. More recently, we have placed the first longevity transaction in Canada and have diversified successfully into living benefit protections.
RGA Canada continues to leverage RGA’s global experience, creative solution-building and technical knowledge as a resource for our valued clients and to assist them in delivering customized, innovative solutions to financial issues via corporate-level transactions. 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 42,000 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
For many years, RGA Canada’s leaders have demonstrated their commitment to the growth and success of the insurance industry in Canada by assuming leadership roles in a number of industry organizations. RGA professionals held a number of important positions in industry bodies and committees in 2012 within the Canadian Institute of Actuaries (CIA), the Society of Actuaries (SOA), the Canadian Life and Health Insurance Association (CLHIA), the International Actuarial Association (IAA), LOMA, the Canadian Reinsurance Conference, and the Reinsurance Administration Professional Association. RGA associates in Canada also participated on many industry task forces and committees.
These roles and activities underscore RGA’s commitment to the continued health and growth of the insurance industry in Canada, and demonstrate our respect and support for the industry’s leading governing bodies.
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.