Reinsurance Group of America completes annuity reinsurance deal with Modern Woodmen
Reinsurance Group of America, the global life, annuity, and health reinsurer, has completed an annuity reinsurance transaction with Modern Woodmen of America, a member-owned fraternal financial services organisation.
Under the agreement, which closed on June 3, 2021, with an effective date of April 1, 2021, an RGA subsidiary will reinsure a seasoned block of US annuity business. Modern Woodmen will continue to service and administer the contracts.
The Willis Re Life Solutions Group served as the broker for the transaction.
Larry Carson, executive vice president of global financial solutions at RGA, emphasised the importance of collaboration and trust to enable this long-term transaction.
“By working closely together, we were able to tailor a mutually beneficial transaction that meets Modern Woodmen’s specific capital and risk management objectives,” he said.
RGA said the deal is part of its strategy to grow its asset-intensive business.
Did you get value from this story? Sign up to our free daily newsletters and get stories like this sent straight to your inbox.
Already registered?
Login to your account
If you don't have a login or your access has expired, you will need to purchase a subscription to gain access to this article, including all our online content.
For more information on individual annual subscriptions for full paid access and corporate subscription options please contact us.
To request a FREE 2-week trial subscription, please signup.
NOTE - this can take up to 48hrs to be approved.
For multi-user price options, or to check if your company has an existing subscription that we can add you to for FREE, please email Elliot Field at efield@newtonmedia.co.uk or Adrian Tapping at atapping@newtonmedia.co.uk
Editor's picks
Editor's picks
More articles
Copyright © intelligentinsurer.com 2024 | Headless Content Management with Blaze