Reinsurance Group of America, Incorporated Granted License for Branch Office in Taiwan
TAIPEI, March 22, 2007 – Reinsurance Group of America, Incorporated (NYSE: RGA) announced today that it recently received approval from the Taiwan Ministry of Economic Affairs (MOEA) and the Financial Supervisory Commission (FSC) to operate as a licensed life reinsurance branch in Taiwan. The RGA Global Reinsurance Company Limited Taiwan Branch began full operation on March 1, 2007.
Through its Liaison Office, RGA has maintained a presence in Taiwan for a number of years. "The successful completion of our Branch License application provides us the flexibility to offer a full range of services and support from our local office to this very important market," said Nic Lempriere-Hogg, Chief Executive Officer, RGA Taiwan. "With a well-established reputation in Taiwan, anchored by a local team of experienced professionals, RGA looks forward to strengthening our reinsurance partnerships throughout the Taiwanese life insurance industry."
The RGA Reinsurance Company Taiwan Liaison Office was approved in February 1999. Since then, RGA has continued to build its presence in Taiwan, the fourth-largest life insurance market in Asia and ninth-largest in the world1. RGA offers the Taiwan market globally renowned expertise in traditional life reinsurance, facultative underwriting, pricing, product development and distribution solutions, and financial reinsurance.
"Our commitment to this vital market continues to grow," said Brendan Galligan, Executive Vice President, Asia Pacific Operations. "We have built a solid foundation over the past eight years in the Taiwan market, and we are firmly committed to building lasting client partnerships by providing comprehensive product development expertise and innovative reinsurance consulting on a range of underwriting, claims management and actuarial issues."
About RGA
Reinsurance Group of America, Incorporated, through its various operating subsidiaries, is the third-largest global provider of life reinsurance. In addition to its U.S. operations, Reinsurance Group of America, Incorporated has subsidiary companies or offices in Australia, Barbados, Bermuda, Canada, China, France, Germany, Hong Kong, India, Ireland, Italy, Japan, Mexico, Poland, South Africa, South Korea, Spain, Taiwan, and the United Kingdom. Worldwide, the company has approximately $2.0 trillion of life reinsurance in force, and assets of $19.0 billion. MetLife, Inc. is the beneficial owner of approximately 53 percent of RGA's outstanding shares.
Through its Liaison Office, RGA has maintained a presence in Taiwan for a number of years. "The successful completion of our Branch License application provides us the flexibility to offer a full range of services and support from our local office to this very important market," said Nic Lempriere-Hogg, Chief Executive Officer, RGA Taiwan. "With a well-established reputation in Taiwan, anchored by a local team of experienced professionals, RGA looks forward to strengthening our reinsurance partnerships throughout the Taiwanese life insurance industry."
The RGA Reinsurance Company Taiwan Liaison Office was approved in February 1999. Since then, RGA has continued to build its presence in Taiwan, the fourth-largest life insurance market in Asia and ninth-largest in the world1. RGA offers the Taiwan market globally renowned expertise in traditional life reinsurance, facultative underwriting, pricing, product development and distribution solutions, and financial reinsurance.
"Our commitment to this vital market continues to grow," said Brendan Galligan, Executive Vice President, Asia Pacific Operations. "We have built a solid foundation over the past eight years in the Taiwan market, and we are firmly committed to building lasting client partnerships by providing comprehensive product development expertise and innovative reinsurance consulting on a range of underwriting, claims management and actuarial issues."
About RGA
Reinsurance Group of America, Incorporated, through its various operating subsidiaries, is the third-largest global provider of life reinsurance. In addition to its U.S. operations, Reinsurance Group of America, Incorporated has subsidiary companies or offices in Australia, Barbados, Bermuda, Canada, China, France, Germany, Hong Kong, India, Ireland, Italy, Japan, Mexico, Poland, South Africa, South Korea, Spain, Taiwan, and the United Kingdom. Worldwide, the company has approximately $2.0 trillion of life reinsurance in force, and assets of $19.0 billion. MetLife, Inc. is the beneficial owner of approximately 53 percent of RGA's outstanding shares.