RGA completes private placement of $125 million in common stock with MetLife.
RGA completes private placement of $125 million in common stock with MetLife.
November 24, 1999
St. Louis—November 24, 1999 Reinsurance Group of America, Incorporated (NYSE: RGA) successfully completed its previously announced private placement of $125 million in common stock with Metropolitan Life Insurance Company (MetLife). The proceeds from this placement will be used for general corporate purposes including addressing the immediate capital needs associated with the growth of RGA’s primary businesses. The shares of common stock issued were not registered under the Securities Act of 1933 and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements. MetLife does, however, have certain registration rights.
Reinsurance Group of America, Incorporated, through its U.S. and Canadian subsidiaries, RGA Reinsurance Company and RGA Life Reinsurance Company of Canada, is one of the largest life reinsurers in North America. RGA also operates through offices or subsidiary companies in Argentina, Australia, Barbados, Bermuda, Chile, Hong Kong, Japan, Mexico, Taiwan, South Africa, and the United Kingdom. Worldwide, RGA has more than $400 billion of life reinsurance in force, and assets of $5.2 billion.
For more information please contact:
Jack B. Lay
Executive Vice President and Chief Financial Officer
Tel: (636) 736-7439
E-mail: jlay@rgare.com