Reinsurance Group of America Reinsures 153 Billion JPY of Statutory Reserves for Daido Life
TOKYO, April 4, 2023 – Reinsurance Group of America, Incorporated (NYSE: RGA) a leading global life and health reinsurer, today announced that it reached an agreement with Daido Life Insurance Company (Daido Life), a subsidiary of T&D Holdings, Inc. (T&D Holdings), to reinsure 153 Billion JPY of statutory reserves through coinsurance.
“RGA has a long-standing partnership with Daido Life and its parent company T&D Holdings, and we are pleased to once again work with them to craft a solution to reduce risk and manage capital,” said Simon Armand-Smith, Vice President, Business Development, Global Financial Solutions, RGA. “This is one of a number of recent asset-intensive transactions that RGA has completed in the Japanese market, and we look forward to continuing to support our clients with their in-force capital management and new business objectives.”
“Our working relationship with RGA spans many years and multiple transactions,” said Daido Life. “Their understanding of our needs and ability to customize coinsurance agreements that help us to effectively manage asset and liability risks have enabled us to improve our capital efficiency.”
Additional terms of the transaction are not being disclosed at this time.
Reinsurance Group of America, Incorporated (NYSE: RGA) is a global industry leader specializing in life and health reinsurance and financial solutions that help clients effectively manage risk and optimize capital. Founded in 1973, RGA celebrates its 50th anniversary in 2023. Over the past five decades, RGA has become one of the world’s largest and most respected reinsurers and is listed among Fortune's World's Most Admired Companies. The global organization is guided by a fundamental purpose: to make financial protection accessible to all. RGA is widely recognized for superior risk management and underwriting expertise, innovative product design, and dedicated client focus. RGA serves clients and partners in key markets around the world and has approximately $3.4 trillion of life reinsurance in force and assets of $84.7 billion as of December 31, 2022. To learn more about RGA and its businesses, visit www.rgare.com. Follow RGA on LinkedIn and Facebook.