RGA Americas 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 Americas Reinsurance Company, Ltd. RGA Americas Reinsurance Company, Ltd. ( RGA Americas ) is a wholly-owned subsidiary of RGA. RGA Americas was incorporated under the laws of Barbados on July 2, 1998 under the Exempt Insurance Act of Barbados, 1983 and was redomiciled to Bermuda on September 25, 2014 under the Insurance Act 1978 of Bermuda. Effective September 25, 2014, all the shares of RGA Life Reinsurance Company of Canada and RGA Atlantic Reinsurance Company Limited were contributed to RGA Americas. RGA Americas accepts direct business and provides retrocession for general and long-term insurance business from both affiliated and non-affiliated companies. RGA Americas 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 Company is primarily engaged in the reinsurance of individual and group coverages for traditional life and health, as well as creditor, longevity, disability, annuity, critical illness products, and financial reinsurance. RGA Americas uses the staffs of affiliated entities with which it has contracts (RGA Reinsurance Company, RGA Life Reinsurance Company of Canada, RGA International Reinsurance Company Limited, RGA International Corporation, RGA Reinsurance Company of Australia Limited, RGA Services India Private Limited, RGA Reinsurance Company of South Africa Limited, 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 Americas also has an agreement with RGA wherein the Company pays a fee for guarantees from RGA and for access to letters of credit. RGA Americas treaties usually take one of two forms: a quota-share arrangement, where, as reinsurer, RGA Americas assumes a set percentage of all the risk of new business from the first dollar; or an excess-of-retention arrangement, where RGA Americas 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 Americas is rated AA- (Very Strong) by Standard & Poor s Insurance Rating Service and RGA Americas is rated A+ (Superior) by A.M. Best Company. In addition, 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 Lawrence Bird, FCII, AIRM, is currently the Managing Director of Marsh IAS Management Services (Bermuda) Ltd. with 25 years of experience in the insurance industry. Todd Larson is Executive Vice President and Global Chief Risk Officer, Reinsurance Group of America, Incorporated. He has 20 years of experience in the life insurance and reinsurance industry. 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 more than 30 years of experience in the life insurance and reinsurance industry. AUDITORS Deloitte & Touche Corner House, Church and Parliament Streets P.O. Box HM 1556 Hamilton, Bermuda HMFX COMPANY MANAGERS Marsh Management Services (Bermuda) Limited Victoria Hall 11 Victoria Street Hamilton, Bermuda HM11 LEGAL ADVISOR Appleby (Bermuda) Limited Canon s Court 22 Victoria Street Hamilton, Bermuda HM EX APPOINTED ACTUARY James P. Ash, FSA, MAAA RGA Americas Reinsurance Company, Ltd Swingley Ridge Road Chesterfield, MO U.S.A. FINANCIAL REGULATOR The Bermuda Monetary Authority BMA House 43 Victoria Street Hamilton, Bermuda HM12 The security of experience. The power of innovation. 4

6 COMPANY REGISTERED OFFICE Victoria Hall 11 Victoria Street Hamilton, Bermuda HM11 T 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