ST. LOUIS--(BUSINESS WIRE)--Jul. 6, 2016--
Reinsurance Group of America, Incorporated (NYSE:RGA) today announced
the completion of a transaction with a leading life insurance company to
provide VM20 reserve financing for a block of term life insurance. The
captive reinsurance agreement is one of the first such transactions in
compliance with Actuarial Guideline 48 (“AG 48”), adopted by the
National Association of Insurance Commissioners (“NAIC”), through which
the NAIC defined rules to be followed for life reserve financing
transactions completed after January 1, 2015.
Primary assets in this transaction originate from an affiliate of RGA,
rather than from the direct insurer, in a manner that is consistent with
the regulatory intent of AG 48. Other details of the transaction are not
being disclosed.
“We believe this transaction marks the first AG 48-compliant captive
reinsurance transaction featuring primary assets from a source other
than the direct writer,” said Gary Seifert, Senior Vice President, North
America, Global Financial Solutions, RGA. “Our Global Financial
Solutions team worked closely with our client to find the most
beneficial solution within the AG 48 framework. It is the latest example
of RGA’s expertise in helping our clients meet evolving regulatory
requirements in the U.S. and every other market we serve.”
About RGA
Reinsurance Group of America, Incorporated (“RGA”) 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
$52.2 billion as of March 31, 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.
View source version on businesswire.com: http://www.businesswire.com/news/home/20160706005736/en/
Source: Reinsurance Group of America, Incorporated
Reinsurance Group of America, Incorporated
Lynn Phillips,
636-736-2351
Executive Director, Public Relations
lphillips@rgare.com
