RGA partners up for ¥100 billion reinsurance deal
RGA partners up for ¥100 billion reinsurance deal | Insurance Business New Zealand
Reinsurance
RGA partners up for ¥100 billion reinsurance deal
Agreement focuses on whole life policies in Japanese market
Reinsurance
By
Mav Rodriguez
Reinsurance Group of America (RGA) has solidified an agreement with Tokio Marine & Nichido Life Insurance Co., Ltd. (Anshin Life) to reinsure an approximately 100 billion JPY paid-up block of whole life policies through coinsurance.
“Our ongoing partnership with Anshin Life is a testament to RGA’s strategic commitment to the Japanese market and our understanding of its distinctive requirements. This transaction is a reflection of our deep-rooted dedication to collaborate with insurers, addressing capital and market risks, and affirming our readiness to support our clients’ evolving goals with innovative and customized financial solutions,” RGA senior vice president Gaston Nossiter said.
Anshin Life echoed this sentiment, emphasizing the benefits of working with RGA.
“RGA’s local presence and ongoing partnership has been a key advantage, and they provided an attractive option that addresses our asset liability management strategies,” a representative from Anshin Life said. “Their ability to understand Japan’s unique market conditions and their flexible approach in responding to our specific needs have made them an excellent reinsurance partner.”
Further details of the transaction remain undisclosed.
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