Reinsurance Group of America Reinsures 200 Billion JPY of Statutory Reserves From Dai-ichi Life Insurance Company
June 01 2021 - 5:00PM
Business Wire
Reinsurance Group of America, Incorporated (NYSE: RGA) a leading
global life and health reinsurer, today announced that it reached
an agreement with The Dai-ichi Life Insurance Company, Limited to
reinsure 200 billion JPY of statutory reserves through coinsurance.
The effective date of the transaction was March 31, 2021.
“Following on a transaction we completed with Dai-ichi last
year, we are excited to continue to work with them to optimize
capital and grow our strong partnership,” said Larry Carson,
Executive Vice President, Global Financial Solutions, RGA. “We have
a steady pipeline of opportunities available in Japan and across
Asia, and we expect continued growth of our asset intensive
business in the Asia market.”
Dai-ichi were appreciative of the partnership with RGA, “Our
longstanding relationship with RGA made them an ideal partner in
this transaction. We were able to tailor a solution to meet our
specific needs, and we appreciate RGA’s support as we work to
reinforce our balance sheet.”
Additional terms of the transaction are not being disclosed at
this time.
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 $3.4 trillion of life
reinsurance in force and assets of $84.8 billion as of March 31,
2021. 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 around the world, 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.
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version on businesswire.com: https://www.businesswire.com/news/home/20210601005123/en/
Lynn Phillips Vice President, Corporate Communications
636-736-2351 lphillips@rgare.com
Lizzie Curry Director, Public Relations 636-736-8521
lizzie.curry@rgare.com
Jeff Hopson Senior Vice President, Investor Relations
636-736-2068 jhopson@rgare.com
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