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  • June 2022
  • 5 minutes

RGActual June 2022 Issue: Making promises. Keeping promises.

  • Peter Hovard
  • André Dreyer
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In Brief

Explore RGActual, a new magazine covering innovation, experience, and development for insurance professionals. In this issue, we investigate the role of reinsurance in extending financial protection and much more. 
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When clients enter into a transaction with RGA’s Global Financial Solutions (GFS) team, they should know that it’s based on a promise made and a promise kept, with the overarching goal of ensuring consumers have the financial protection they need. What does that look like in the complex world of finance, risk mediation, and reinsurance?

GFS is the business within RGA that helps clients optimize their capital. Through asset-intensive solutions, we can help release trapped capital in blocks of business, reduce exposure to credit or investment risk, and manage capital and financial metrics important to investors or ratings agencies. We also understand both sides of a client’s balance sheet and how assets and liabilities can be structured for maximum value. As one example, GFS has used RGA’s strong mortality expertise as a springboard to help clients manage the exposure and capital associated with longevity risk from individual and pension risk transfer (PRT) products. 

In addition to helping clients with their financial management, GFS is well positioned to help with major accounting changes (IFRS 17; GAAP LDTI) that are happening in the industry. These are causing insurance companies to rethink how they address financial and capital metrics. RGA is on the leading edge of these changes, and GFS’s global experience and perspectives could provide some nice win-win opportunities. 

As can be seen, GFS’s solutions can be complicated and time-intensive. Within GFS, there is a direct link between client-centricity and execution certainty. In other words, we take the time to develop a client promise, and then make sure we keep that promise for a lifetime.

Our business has expanded in recent years via transactions all around the globe, mainly because of strong long-term local, regional, and global relationships, combined with our ability to help clients identify needs and implement solutions at the right time. Clients trust us to help them think through strategic issues they’re facing, such as how they want to transform their business or allocate capital. 

Often, it takes time for a conversation to lead to an idea that eventually turns into a promise. And that’s fine with us – our focus is on long-term strategic partnerships. As we look to the future and RGA’s five-year strategy, the RGA record of keeping promises is critical to our strategy, and to the meticulous construction of customized solutions. Because our clients value this long-term partnership mentality, I’m confident we’ll achieve many great things in the years ahead. 

Overarching everything we do, and what I’d like our clients (and everyone) to understand, is that we’re in the business of making financial protection accessible to all. That starts with keeping promises. When we contemplate our work, we’re not only thinking about our clients’ needs; we’re also thinking about their clients’ – the end consumers’ – needs. We’re proud of our track record of helping millions and millions of families around the globe in their times of need, and our experience and expertise is dedicated to providing our clients with the security and capabilities they need to be able to help their customers through those times. 

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Meet the Authors & Experts

Peter Hovard
Peter Hovard
Lead Behavioural Scientist, Risk and Behavioral Science
Andre Dreyer
André Dreyer
Vice President, Ventures and Acquisitions, RGAX