˿ƵAPP Executes €900 Million Asset-Intensive Reinsurance Transaction with Baloise in Belgium
ST. LOUIS, February 1, 2024 – Reinsurance Group of America, Incorporated (NYSE: ˿ƵAPP) today announced it has executed an asset-intensive reinsurance transaction in Continental Europe with the Belgian subsidiary of Baloise, one of the leading insurers in Belgium [Baloise Belgium NV].
The underlying portfolio consists of approximately 57,000 individual life insurance policies with guaranteed minimum returns and total reserves of approximately €900 million. The transaction includes collateral in a custody account supporting ˿ƵAPP’s liabilities.
“˿ƵAPP’s expansion in the Continental Europe asset-intensive reinsurance market underscores our deep expertise and strong position in the European market,” said Cormac Galvin, Senior Vice President, Head of EMEA, Global Financial Solutions, ˿ƵAPP. “Our team is proud to be a strategic partner to Baloise, providing the guidance and support to enhance their financial efficiency.”
“˿ƵAPP responded to our risk and capital management needs with a strong solution,” said Wim Kinnet, CFO, Baloise Belgium. “˿ƵAPP has demonstrated to be an excellent partner in addressing the various complexities and intricacies of the current transaction."
Additional terms of the transaction are not being disclosed.
For more information about ˿ƵAPP’s Global Financial Solutions, please visit www.rgare.com.
Reinsurance Group of America, Incorporated (NYSE: ˿ƵAPP) is a global industry leader specializing in life and health reinsurance and financial solutions that help clients effectively manage risk and optimize capital. Founded in 1973, ˿ƵAPP is today one of the world’s largest and most respected reinsurers and remains guided by a powerful purpose: to make financial protection accessible to all. As a global capabilities and solutions leader, ˿ƵAPP empowers partners through bold innovation, relentless execution, and dedicated client focus – all directed toward creating sustainable long-term value. ˿ƵAPP has approximately $3.5 trillion of life reinsurance in force and assets of $87.4 billion as of September 30, 2023. To learn more about ˿ƵAPP and its businesses, please visit rgare.com or follow ˿ƵAPP on Ի . Investors can learn more at .