LONDON--(BUSINESS WIRE)--Dec. 19, 2017--
Reinsurance
Group of America, Incorporated (NYSE: RGA), a leading global life
reinsurer, today announced the completion of an asset and longevity risk
transaction with Liverpool Victoria Friendly Society (LV=). Under the
agreement, RGA will reinsure approximately £900 million in individual
annuity business.
“This transaction supports RGA’s key initiative to expand
asset-intensive partnerships in the European market,” said John
Laughlin, Executive Vice President, Global Financial Solutions, RGA.
“Creating an innovative structure allowed RGA to develop an attractive
longevity, risk, and asset strategy that provides significant capital
and risk benefit for LV=.”
“This transaction is a key part of the risk management and capital
efficiency programme LV= has been running for a number of years which is
focused on reducing volatility of our Solvency II balance sheet and
member outcomes,” said Mark Laidlaw, Chief Capital and Investment
Officer at LV=.
Additional terms of the transaction are not being disclosed.
About RGA
Reinsurance Group of America, Incorporated (RGA), a Fortune 500 company,
is among the leading global providers of life reinsurance and financial
solutions, with approximately $3.3 trillion of life reinsurance in force
and assets of $58.7 billion as of September 30, 2017. 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/20171219005224/en/
Source: Reinsurance Group of America, Incorporated
Reinsurance Group of America, Incorporated
Lynn Phillips,
636-736-2351
Vice President, Corporate Communications
lphillips@rgare.com
or
Jeff
Hopson, 636-736-7000
Senior Vice President, Investor Relations
jhopson@rgare.com
or
Lizzie
Curry, 636-736-8521
Public Relations Manager
lizzie.curry@rgare.com
