AMSTERDAM--(BUSINESS WIRE)--Jun. 26, 2015--
Reinsurance
Group of America, Incorporated (NYSE: RGA) announces
today the completion of a new agreement whereby RGA will provide
additional longevity risk protection and capital benefit on reserves of
approximately €12 billion to Delta Lloyd Levensverzekering N.V., the
Dutch life insurance arm of the Delta Lloyd Group (“Delta Lloyd”). The
transaction, with a duration of eight years, is a liability replication
derivative based on the Dutch population mortality results.
“This marks RGA’s second transaction with Delta Lloyd to mitigate a
portion of Delta Lloyd’s longevity risk,” said Paul Sauvé, Senior Vice
President, Global Financial Solutions, EMEA, RGA. “We see considerable
interest in the EMEA region for proven solutions that address the new
capital requirements framework and are actively talking to our clients
about how such liability replication strategies can be applied to
similar opportunities.”
“This is the second time Delta Lloyd has transferred a part of its
longevity exposure to the reinsurance market,” said Hans van der
Noordaa, Executive Board Chairman, Delta Lloyd. “Both transactions, the
first one was in 2014, are part of our sound and efficient capital
management. We continuously investigate options to optimise our capital
structure and strengthen our balance sheet, through our product mix,
underwriting, asset optimisation and transactions, such as announced
today.”
“With this transaction, RGA again demonstrates its ability to implement
creative and effective solutions for our clients under changing
regulatory environments,” said David Boettcher, Executive Vice President
and Chief Operating Officer, Global Financial Solutions, RGA. “By
applying our extensive knowledge of biometric risk, we are able to offer
efficient, flexible solutions that integrate with our clients’ capital
models for Solvency II as well as address the requirements of other
principles-based solvency regimes and frameworks around the globe, such
as SAM (in South Africa), C-ROSS (in China), and SST (in Switzerland).”
About RGA
Reinsurance Group of America, Incorporated, one of the largest global
life reinsurance companies in the world, provides clients with
individual life reinsurance, individual living benefits reinsurance,
group reinsurance, health reinsurance, financial solutions, facultative
underwriting and product development. The company serves clients from
operations in Australia, Barbados, Bermuda, Canada, China, France,
Germany, Hong Kong, India, Ireland, Italy, Japan, Malaysia, Mexico, the
Netherlands, New Zealand, Poland, Singapore, South Africa, South Korea,
Spain, Taiwan, Turkey, the United Arab Emirates, the United Kingdom, and
the United States. Worldwide, RGA has approximately $2.8 trillion of
life reinsurance in force and assets of $44.7 billion.
View source version on businesswire.com: http://www.businesswire.com/news/home/20150625006469/en/
Source: Reinsurance Group of America, Incorporated
Reinsurance Group of America, Incorporated
Rijn van der Linden,
+31-20-333-9013 or +31-65-063-5102
Head of Business Development and
Marketing, RGA Netherlands and Nordics
rvanderlinden@rgare.com
or
Sally
Smith, 636-736-8167
Vice President, Corporate Communications
ssmith@rgare.com
