Reinsurance Group of America
 | |
| Public | |
| Traded as | NYSE: RGA |
| Industry | Reinsurance |
| Founded | 1973 |
| Headquarters | Chesterfield, Missouri, USA |
Key people |
Greig Woodring President, Reinsurance Group of America, Incorporated |
| Products | Reinsurance |
| Revenue | $10.4 billion (2015) |
| Profit |
 $502.2 million (2015) |
| Total assets | $50.4 billion (2015) |
Number of employees | 2201 (2015) |
| Website | www.rgare.com |
RGA Reinsurance Company is a subsidiary of Reinsurance Group of America, Incorporated (NYSE: RGA), which is an international global life and health reinsurance company with approximately $3.0 trillion of life reinsurance in force and assets of $50.4 billion as of December 31, 2015. Business lines include individual life reinsurance, individual living benefits reinsurance, health reinsurance, long-term care reinsurance, group reinsurance and financial solutions. RGA also sells bancassurance and retakaful and offers facultative and underwriting expertise, product development, risk management, e-underwriting solutions and client training services. As a global organization, RGA has received 5 million facultative cases since 1979. RGA currently ranks 273 on the 2015 FORTUNE 500 list[1] and was named to Forbes' "America's 50 Most Trustworthy Financial Companies" 2014 list.[2]
Global operations
RGA has operations in 27 countries, including: Australia, Barbados, Bermuda, Canada, China, France, Germany, Hong Kong (China), India, Ireland, Italy, Japan, Malaysia, Mexico, the Netherlands, New Zealand, Poland, Singapore, South Africa, South Korea, Spain, Taiwan, the United Arab Emirates, the United Kingdom, and the United States.
History
- RGA began operating in the United States in 1973 as General American Re, a reinsurance division created by General American Life Insurance Company. In 1992, General American chartered Reinsurance Group of America, Incorporated (RGA) as a holding company for its reinsurance operations. Later that year, RGA opened its first international office when it acquired National Re of Canada, which went on to become RGA Life Reinsurance Company of Canada. On May 4, 1993, RGA began being traded publicly on the New York Stock Exchange (NYSE: RGA).[3]
- By 1999, RGA had opened additional offices in Spain, Hong Kong, Japan, Australia, New Zealand, South Africa, the U.K., Mexico and Taiwan.
- In 2000, Metropolitan Life Insurance Company (MetLife, Inc.) acquired GenAmerica Corporation, which included General American and its subsidiaries, thereby gaining effective control of RGA. In 2008, RGA became a stand-alone company after it split off from MetLife, Inc.
- Between 2002 and 2014, RGA opened additional offices in South Korea, India, China, Poland, France, Italy, Germany, the Netherlands, the United Arab Emirates, and Turkey.
- In 2010, RGA completed the acquisition of ReliaStar’s U.S. and Canadian group life, accident and health reinsurance business, which operated under the name ING Reinsurance and was owned by ReliaStar Life Insurance Company.
Today RGA is one of the largest life reinsurance companies in the world.
References
- ↑ http://fortune.com/fortune500/reinsurance-group-of-america-273/
- ↑ http://www.forbes.com/sites/kathryndill/2014/04/01/americas-50-most-trustworthy-financial-companies/
- ↑ RGA History Retrieved January 4, 2011