RGA reinsures Manulife longevity risk
Reinsurance Group of America (RGA) has completed a longevity reinsurance deal with Canadian multinational insurance and financial services company Manulife.
RGA's Canadian subsidiary, RGA Life Reinsurance Company of Canada (RGA Canada), will reinsure the longevity risk in respect of approximately 45,000 annuitants.
“We have a long-standing partnership with Manulife and we are proud to implement another customized solution to meet their financial objectives,” said Alka Gautam, president and CEO, RGA Canada. “This innovative longevity transaction deepens the strong collaborative relationship between RGA and Manulife.”
John Laughlin, EVP, global financial solutions, RGA, commented: “RGA’s commitment to delivering long-term value to our clients drives us to develop unique solutions to meet their needs. This transaction once again demonstrates RGA’s expertise in longevity risk and our ability to execute transactions for our clients.”
Get all the latest re/insurance industry news with our daily newsletter - sign up here.
More of today's news
AIG mitigates losses as CEO says insurer is on ‘right path’ for growth
Munich Re leads $7m investment in commercial auto insurtech NN Group show a net loss in 2018, partly caused by ‘goodwill impairment’
USI Insurance unveils major acquisition in expansion move
MS Amlin unveils new all risk tech policy to fill coverage gaps
Markel hires trade credit underwriter from Coface Dubai
Holborn swoops for Gen Re veteran as chief production officer
Download our whitepaper: 'Why Automation & AI Matters For Commercial Lines'
