RGA to acquire life insurance portfolio from PGGM

21-08-2015

Reinsurance Group of America (RGA) has revealed it will acquire the life insurance policy portfolio of cooperative PGGM through its Netherlands life insurance subsidiary, Leidsche Levensverzekeringen Maatschappij. 

Netherlands-based PGGM will transfer 75,500 life insurance policies to RGA, under the terms of the proposed closed-block transaction. 

Olav Cuiper, executive vice president, EMEA markets, RGA, said: "RGA has a clear growth strategy in the Netherlands. We believe this transaction supports our long-term strategic objectives to capitalise on the realignment of the financial services industry and demonstrates our ability to provide portfolio run-off solutions in the European market.”


RGA, PGGM, Leidsche Levensverzekeringen Maatschappij, Europe

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