RGA reinsures JPY 100bn life block for Anshin Life

Reinsurance Group of America, Incorporated (RGA), a global life and health reinsurance company, has reached an agreement with Tokio Marine & Nichido Life Insurance Co., Ltd. (Anshin Life) to reinsure an approximately JPY 100 billion paid-up block of whole life policies through coinsurance.

Gaston Nossiter, Senior Vice President, Head of Asia Pacific, Global Financial Solutions, RGA, noted that RGA’s ongoing partnership with Anshin Life is a testament to its strategic commitment to the Japanese market.

Nossiert continued, “This transaction is a reflection of our deep-rooted dedication to collaborating with insurers, addressing capital and market risks, and affirming our readiness to support our clients’ evolving goals with innovative and customised financial solutions.”

Anshin Life said, “RGA’s local presence and ongoing partnership has been a key advantage, and they provided an attractive option that addresses our asset liability management strategies.

“Their ability to understand Japan’s unique market conditions and their flexible approach in responding to our specific needs have made them an excellent reinsurance partner.”

In its Q1 2024 results, RGA reported that consolidated net premium increased 58.8% to $5.4 billion. This included a $1.9 billion contribution from a single premium pension risk transfer transaction in the U.S. Financial Solutions business.

RGA’s Q1 2024 net income to shareholders was $210 million, compared with $252 million in the prior-year quarter, while the adjusted operating income for Q1 2024 was reported at $401 million, up from $349 million in the opening quarter of 2023.

This website states: The content on this site is sourced from the internet. If there is any infringement, please contact us and we will handle it promptly.