RGA agrees $100bn life deal in US

Reinsurance Group of America (RGA) has reached an agreement with Voya Financial, formerly ING US, to reinsure approximately $104 billion of in-force life insurance.

The agreements will provide RGA with almost 170,000 term level life insurance policies.

Other terms of the transaction, which is likely to conclude during the fourth quarter this year, weren't disclosed.

Greig Woodring, chief executive of RGA, said: "This transaction leverages RGA's deep expertise and understanding of the US mortality market, and aligns well with our disciplined global acquisitions strategy.

"We are pleased to further strengthen our long-term customer relationship with Voya Financial through this transaction."