RGA receives China licence

RGA Reinsurance Company, the primary operating subsidiary of Reinsurance Group of America (RGA), has received approval to operate a branch office in Shanghai.

RGA said the branch will significantly increase its presence in China and will permit it to provide a full range of services to insurers operating in this important and growing market.

RGA has maintained a presence in China since 2005, when it received approval to open a representative office in Beijing. The Shanghai branch office will be RGA’s eighth business unit in the Asia Pacific region.

Greig Woodring, president and chief executive officer, RGA, said: “I am very pleased that RGA has been authorised to operate a branch office in China, and that we will now be able to offer our full range of services and innovative solutions to insurers there.

“We recognise the uniqueness and potential of the Chinese insurance market, and we hope to leverage our extensive experience developed in other markets around the world to the benefit of insurers operating in this market.”

Allan O’Bryant, executive vice president, head of Asia markets, added: “In every country in which RGA operates, we focus on the specific needs within that market, and provide our clients with the many benefits of our wide-ranging, global experience in managing risk and generating new opportunities. We look forward to growing and prospering with our partners, both existing and new, in the insurance industry in China.”