RGA Receives Approval to Operate Branch Office in India
MUMBAI, December 27, 2016 – Reinsurance Group of America, Incorporated (NYSE: RGA) today announced that the Insurance Regulatory and Development Authority of India (IRDAI) has approved its R-3 application to operate as a fully licensed branch office in India. The branch applicant entity is RGA Life Reinsurance Company of Canada.
“India is an important market for RGA, and we are excited for the opportunity to work more directly with our clients and continue our business growth through a licensed branch office,” said Alain Néemeh, Senior Executive Vice President, Global Life and Health Markets, RGA. “We look forward to expanding the range of services we offer insurers and developing customized reinsurance solutions for our partners throughout the region.”
“We believe the Indian insurance market has tremendous potential to grow,” said Thomas Mathew, Chief Executive Officer of RGA India. “We look forward to supporting this growth through innovative products in life and health insurance.”
Reinsurance Group of America, Incorporated (RGA), a FORTUNE 500 company, is among the leading global providers of life reinsurance and financial solutions, with approximately $3.1 trillion of life reinsurance in force and assets of $54.8 billion as of September 30, 2016. Founded in 1973, RGA today is recognized for its deep technical expertise in risk and capital management, innovative solutions, and commitment to serving its clients. With headquarters in St. Louis, Missouri and operations in 26 countries, RGA delivers expert solutions in individual life reinsurance, individual living benefits reinsurance, group reinsurance, health reinsurance, facultative underwriting, product development, and financial solutions. To learn more about RGA and its businesses, visit the company’s website at www.rgare.com.