Reinsurance Group Of America Reinsures 160 Billion JPY Of Statutory Reserves For Taiyo Life – InsuranceNewsNet – Insurance News Net
TOKYO, April 7, 2022 – Reinsurance Group of America, Incorporated (NYSE: RGA) a leading global life and health reinsurer, today announced that it reached an agreement with Taiyo Life Insurance Company (Taiyo Life), a subsidiary of T&D Holdings, Inc., to reinsure 160 Billion JPY of statutory reserves through coinsurance. Taiyo Life will continue to service the policies under the insurance contract.
“Reinsurance transactions require a solid partnership. We value the working relationship we have with Taiyo Life as we identified a creative, comprehensive, and customized solution to meet their capital management needs,” said Larry Carson, Executive Vice President, Global Financial Solutions, RGA. “Coinsurance is an effective piece of RGA’s strategy for optimizing retuon capital and is suitable for a wide range of life insurance needs in Japan and around the world.”
Speaking to the relationship with RGA and the transaction, Taiyo Life said, “We were pleased to have a trusted partner in RGA to help reduce our risk and improve capital efficiency. Through this reinsurance transaction, we are able to transfer economic risk while still maintaining a strong relationship between Taiyo Life and our policyholders.”
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 $3.5 trillion of life reinsurance in force and assets of $92.2 billion as of December 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 leamore about RGA and its businesses, visit the company’s website at www.rgare.com.
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