OREANDA-NEWS. September 14, 2015. Reinsurance
Group of America, Incorporated (NYSE: RGA) and Voya
Financial, Inc. (NYSE: VOYA) today announced the execution of
agreements in which RGA will reinsure a block of in-force term insurance
policies issued by Voya Financial. RGA will reinsure approximately \\$90
billion of life insurance in force, comprising approximately 155,000
policies written between 2008-2011.
“This transaction is consistent with RGA’s growth strategies, allowing
us to leverage our deep expertise and understanding of the U.S.
Mortality Market,” said
Anna Manning, Senior Executive Vice President,
Global Structured Solutions, RGA. “Voya is a long-standing partner with
whom we have built a strong alliance over the years, and we are pleased
once again to provide them with a solution to their capital and risk
management needs. We believe this transaction will further strengthen
our relationship and highlight RGA’s commitment to long-term
partnerships with our clients.”
Under the terms of the deal, Voya will continue to handle administration
of the business. The transaction is expected to close during the fourth
quarter of 2015 subject to regulatory approvals and other customary
closing conditions.
About RGA
Reinsurance Group of America, Incorporated is one of the largest global
life and health reinsurance companies in the world. The company provides
clients with individual life reinsurance, individual living benefits
reinsurance, group reinsurance, health reinsurance, financial solutions,
facultative underwriting and product development. RGA and its
subsidiaries serve clients from operations in Australia, Barbados,
Bermuda, Canada, China, France, Germany, Hong Kong, India, Ireland,
Italy, Japan, Malaysia, Mexico, the Netherlands, New Zealand, Poland,
Singapore, South Africa, South Korea, Spain, Taiwan, Turkey, the United
Arab Emirates, the United Kingdom, and the United States. Worldwide, RGA
has approximately \\$2.9 trillion of life reinsurance in force and assets
of \\$47.5 billion.
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