RGA International Reinsurance Company Limited (RGA International Re) is a wholly owned subsidiary of Reinsurance Group of America, Incorporated (RGA).
RGA International Re is based in Ireland and its affiliate, RGA Global Reinsurance Company, Ltd., is based in Bermuda. Together they form an integral platform for RGA’s business operations outside North America. RGA’s International Division contributed 34% of RGA’s net premiums in 2011. Both RGA International Re and RGA Global Re received the ‘AA-’ issuer credit and financial strength rating from Standard and Poor’s.
Lines of Business
RGA International Re was formed in June 2003, in Dublin, Ireland as a life reinsurance company to support clients located in Continental Europe, India and Singapore. The company has branch offices in France, Germany, Italy, the Netherlands, Poland, Spain and the U.K., and is an authorized reinsurer in Singapore. The company focuses on the provision of effective economic- and service-oriented solutions for each of the individual European markets.
RGA International Re meets local legislative and fiscal requirements by setting up branches in local countries, as appropriate. Moreover, as a highly rated company, RGA International Re provides strong counterparty protection for its clients.
RGA International Re allows RGA to more efficiently manage the administration of its international operations. Regulated by the Central Bank of Ireland, the company is ideally placed to maximize the effective use of capital to the benefit of its customers, while at the same time leveraging its branch network to support locally based sales, marketing and administrative teams.
RGA International Re’s local offices are supported by the group’s service team, located in Toronto (International Head Office) and St. Louis (Corporate Head Office), to ensure that clients receive the same high standards of underwriting, claims management, administration and IT support that RGA has used to build its worldwide reputation. The combination of local and international personnel ensures that international expertise and standards are harnessed to meet local client needs.
RGA International Re currently writes business in Ireland, Continental European (including Eastern Europe and Scandinavia), the Commonwealth of Independent States, India, Singapore and the U.K.
RGA's staff markets products and services to existing and potential clients which, for the most part, are life insurance companies. RGA supports its clients with locally based, experienced personnel.
RGA International Re assesses counterparty risk of retrocessions (e.g., retro approval process), and monitors its counterparty exposure and mitigation strategies, as part of its prudent approach to risk management.
RGA International Reinsurance Company Limited receives high ratings for its claims-paying ability based on the company’s financial condition and earnings. RGA International Re is rated by Standard & Poor’s; the rating has consistently been AA- since 2004 (current outlook: stable). Insurers rated in the AA- class offer very strong financial security characteristics, differing only slightly from those rated higher.