RGA Atlantic Reinsurance Company Ltd. Overview

Transcription

1 Overview April, 2015 The security of experience. The power of innovation.

2 REINSURANCE GROUP OF AMERICA, INCORPORATED Reinsurance Group of America, Incorporated ( RGA ) is one of the largest life reinsurers in the world, serving clients in more than 60 countries from operations in 26 countries around the world. RGA, a FORTUNE 500 company, has been listed on the New York Stock Exchange since 1993 (NYSE: RGA). As of December 31, 2014, RGA had approximately $2.9 trillion of life reinsurance in force and consolidated assets of $44.7 billion. Total revenues in 2014 were $10.9 billion. For the sixth consecutive time, RGA s main operating subsidiary, RGA Reinsurance Company, was named Best Overall Life Reinsurer in the 2015 Flaspöhler Survey (Direct Writers Evaluate Reinsurers / Life N. A.). RGA Atlantic Reinsurance Company Ltd. RGA Atlantic Reinsurance Company Ltd. ( RGA Atlantic ) is a wholly-owned subsidiary of RGA. RGA Atlantic, based in Barbados, W.I. and incorporated under the laws of Barbados on December 5, 2007, was established mainly to provide capital management for RGA affiliate companies worldwide. It is licensed to conduct business as an Exempt Insurance Company under the Exempt Insurance Act of Barbados, RGA Atlantic provides retrocession for general and long-term insurance business from affiliated companies not domiciled in the U.S. RGA Atlantic also performs annual financial reviews of its retrocessionaires to evaluate financial stability and performance. The security of experience. The power of innovation. 1

3 LINES OF BUSINESS The majority of the business reinsured by RGA Atlantic is mortality-based. The Company enters into reinsurance agreements with related parties on a facultative or automatic basis, and may also enter into in-force block transactions. The underlying mortality product is primarily life insurance. RGA Atlantic also reinsures annuity products and health-based products such as critical illness and disability income protection. RGA Atlantic uses the staffs of affiliated entities with which it has contracts (RGA Reinsurance Company, RGA International Corporation, RGA Reinsurance Company of Australia Limited, RGA Life Reinsurance Company of Canada, and RGA UK Services Limited) to market and administer its products and services to existing and potential clients which, for the most part, are life insurance companies. RGA Atlantic also has an agreement with RGA wherein the Company pays a fee for guarantees from RGA and for access to letters of credit. RGA Atlantic treaties usually take one of two forms: a quota-share arrangement, where, as reinsurer, RGA Atlantic assumes a set percentage of all the risk of new business from the first dollar; or an excess-of-retention arrangement, where RGA Atlantic assumes a set percentage of risk over and above the ceding company s own retention. The security of experience. The power of innovation. 2

4 RATINGS RGA Atlantic is rated A+ (Superior) by A.M. Best Company. RGA s principal operating subsidiaries in the U.S. and Canada have the following financial strength ratings from the major rating agencies: RGA Reinsurance Company RGA s principal operating subsidiary in the United States Standard & Poor s Insurance Rating Service A.M. Best Company Moody s Investors Services AA- (Very Strong) A+ (Superior) A1 (Good) RGA Life Reinsurance Company of Canada RGA s Canadian operating subsidiary Standard & Poor s Insurance Rating Service A.M. Best Company AA- (Very Strong) A+ (Superior) Insurers rated AA- by Standard & Poor s offer very strong financial security characteristics, differing only slightly from those rated higher. Insurers rated A+ (Superior) by A.M. Best Company are considered to have financial strength operating performance and market profile characteristics that are superior to its established benchmarks, and are considered to have a superior ability to meet ongoing policyholder obligations. Moody s Insurance Financial Strength Ratings reflect an insurance company s ability to punctually repay senior policyholder claims and obligations. Insurance companies rated A1 by Moody s offer good financial security. The ratings are based on industry analysis, regulatory trends, and evaluation of the company s business fundamentals. The security of experience. The power of innovation. 3

5 BOARD OF DIRECTORS Dr. Trevor Carmichael, Q.C., is Principal and Founder of Chancery Chambers, with more than 30 years of experience practicing law. Chancery Chambers, located in Bridgetown, Barbados, W.I., is one of the more diversified law firms in the Caribbean, offering comprehensive legal services to clients with international business interests. John Hayden is Senior Vice President and Controller, Reinsurance Group of America, Incorporated. He has 25 years of experience in the life insurance and reinsurance industry. James Kellett is Senior Vice President, Valuation and Financial Analysis, Reinsurance Group of America, Incorporated. He has over 30 years of experience in the life insurance and reinsurance industry. AUDITORS Deloitte & Touche The Goddard Building Haggatt Hall St. Michael, BB11059 COMPANY MANAGERS CGE International Insurance Services, Ltd. Orena St. Lawrence Main Road Christ Church, BB15029 LEGAL ADVISOR Dr. Trevor Carmichael, Q.C. Chancery Chambers Chancery House High Street Bridgetown, BB11128 APPOINTED ACTUARY James P. Ash, FSA, MAAA RGA Atlantic Reinsurance Company Ltd Swingley Ridge Road Chesterfield, MO U.S.A. FINANCIAL REGULATOR Financial Services Commission #34 Warrens Industrial Park Warrens St. Michael The security of experience. The power of innovation. 4

6 COMPANY REGISTERED OFFICE Chancery Chambers Chancery House High Street Bridgetown, BB11128 CONTACT John Hayden Senior Vice President Controller Reinsurance Group of America, Incorporated Swingley Ridge Road Chesterfield, MO U.S.A. T jhayden@rgare.com (As of April 2015) The security of experience. The power of innovation. 5