Welcome to our fourth quarter edition of EMEA Quarterly. As we conclude 2017 I hope that your plans for this year have succeeded and you are seeing the rewards for your efforts, even as we all are already finalizing plans for 2018. As always, my hope is that the information we share with you in these newsletters is timely and helpful to your planning and execution in achieving these goals.

Innovation is the word of the decade, and now tangible solutions are emerging from the theoretical. I am pleased to say that RGAx, our innovation incubation subsidiary, is a part of this and most recently has created an exchange to bring companies with questions together with companies that have solutions, as you can read in CollaborationX: A Perfect Marriage by Kate Gillmore, Commercial Director for RGAx in the U.K.

The need for innovation isn’t just driven by competitive pressures. The Italian National Health Service has universal cover, yet still faced a crucial gap in cancer coverage. Silvana Surlas, Head of Health for RGA Italy, writes of the collaborative effort that went into creating an individual medical reimbursement product in her article, Innovation in Insurance Product Development Case Study: Cancer Cover in Italy.

Collaboration and innovation are also prime benefits of attending the annual International Conference of Actuaries, and Dr. Klaus Mattar, Managing Director of Germany and CEE for RGA shares more details about the upcoming conference in Berlin in his article, RGA Sponsoring 2018 ICA.

One topic that may be addressed at ICA is our aging populations in Europe and elsewhere and the impact on long term care cover. In Aging: New Thoughts on Insuring Long-Term Care, Mick James, Business Development Manager for RGAx EMEA, looks at some new thinking on how to identify benefit trigger points and develop products for seniors who want to age at home.

Long-term care isn’t the only area that may benefit from some fresh thinking. In A Convenient Lie, Neil Parkin, Group Risk Business Development Actuary for RGA in South Africa suggests that accepting that the economy and tax changes as the reasons for poor group disability income performance may be masking a threat that is causing greater complexities and increasing co-morbidities in this volatile sector.

In the area of mobile distribution of insurance, the opportunities are not only known, but increasing.  As Leigh Allen, Director, RGA Global Surveys and Distribution Research describes in New Technology, Social Media and the Impact on Bancassurance, mobile technology is becoming a key differentiator in an increasingly competitive market, not only driving greater consumer engagement but also making product development and distribution easier.

Finally, no sooner than we see the implementation of Solvency II, our industry is looking ahead to the coming IFRS 17 regulations. There is much to do, but Alexandra Field, Manager, Business Development, RGA Germany Branch Office offers an overview of the key changes heading our way in IFRS 17 and the (Special) Treatment of Reinsurance.

We extend our warmest greetings of the season and wish you the happiest of holidays and a successful and prosperous New Year. It has been an honor and a pleasure to work with you in the past year, and we look forward to seeing you in 2018.

Olav Cuiper

Executive Vice President, Head of EMEA
RGA International Reinsurance Company dac

December 2017