Ë¿¹ÏÊÓƵAPP Announces 700 Billion JPY Longevity Asset-Intensive Reinsurance Transaction with Japan Post Insurance Company
TOKYO, Mar. 22, 2024 ¨C Reinsurance Group of America, Incorporated (NYSE: Ë¿¹ÏÊÓƵAPP), a leading global life and health reinsurer, today announced it has reached an agreement with Japan Post Insurance Company (Kampo) for an Ë¿¹ÏÊÓƵAPP affiliate to reinsure an approximately 700 billion JPY in-force block of individual life annuities through coinsurance. The transaction is a landmark transaction in the longevity space with one of Japan¡¯s leading providers of life annuities.
¡°This transaction marks a significant milestone in the Asia-Pacific longevity market as a first-of-its-kind coinsurance transaction in Japan,¡± said Gaston Nossiter, Senior Vice President, Head of Asia Pacific, Global Financial Solutions, Ë¿¹ÏÊÓƵAPP. ¡°This is one of a number of recent asset-intensive transactions that Ë¿¹ÏÊÓƵAPP has completed demonstrating our deep expertise and strong position in the Japanese and Asia Pacific markets. We look forward to continuing to support our clients with their in-force capital management and new business objectives.¡±
¡°We value our partnership with Ë¿¹ÏÊÓƵAPP, which has consistently delivered customized coinsurance solutions to enhance our capital management,¡± stated Kampo. ¡°This transaction further cements our collaborative approach to risk management and capital optimization, reinforcing our commitment both to our customers and our strategic goals.¡±
¡°Ë¿¹ÏÊÓƵAPP has a long-standing partnership with Kampo, and we are pleased to once again work with them to develop a solution to reduce longevity risk and manage capital,¡± said Hironori Takahashi, CEO, Ë¿¹ÏÊÓƵAPP Japan. ¡°Looking ahead, Ë¿¹ÏÊÓƵAPP¡¯s robust local presence in Japan positions us to lead our clients through the complexities of capital optimization toward innovative solutions that meet their capital and regulatory needs.¡±
Additional terms of the transaction are not being disclosed.
About Ë¿¹ÏÊÓƵAPP
Reinsurance Group of America, Incorporated (NYSE: Ë¿¹ÏÊÓƵAPP) 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, Ë¿¹ÏÊÓƵAPP 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, Ë¿¹ÏÊÓƵAPP empowers partners through bold innovation, relentless execution, and dedicated client focus ¡ª all directed toward creating sustainable long-term value. Ë¿¹ÏÊÓƵAPP has approximately $3.7 trillion of life reinsurance in force and assets of $97.6 billion as of Dec. 31, 2023. To learn more about Ë¿¹ÏÊÓƵAPP and its businesses, please visit rgare.com or follow Ë¿¹ÏÊÓƵAPP on and . Investors can learn more at .