Company:Reinsurance Group of America

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Short description: Global reinsurance company
Reinsurance Group of America, Incorporated (RGA)
TypePublic
NYSE: RGA
S&P 400 Component
ISINUS7593516047
IndustryReinsurance
Founded1973 (1973)
HeadquartersChesterfield, Missouri, United States
Key people
Tony Cheng (CEO)
ProductsLife reinsurance, living benefits reinsurance, health reinsurance, underwriting, financial solutions
Revenue$16.2 billion (2022*) *As of December 31, 2022
$521 million (2022*)
Total assets$84.9 billion (2022*)
Number of employees
4000[1] (2023)
ParentReinsurance Group of America
Websitewww.rgare.com

Reinsurance Group of America, Incorporated (NYSE: RGA) is a holding company for a global life and health reinsurance entity[2] based in Greater St. Louis within the western suburb of Chesterfield, Missouri, United States. With approximately $3.5 trillion of life reinsurance in force and assets of $87.4 billion as of September 30, 2023,[3] RGA has grown to become the only international company to focus primarily on life and health-related reinsurance.[4][5]

History

General American Reinsurance, a reinsurance division formed in 1973 by General American Life Insurance Company (GA), was the forerunner to RGA.[6] By 1993, GA's reinsurance division had grown its life reinsurance in force to $114.7 billion.[7] General American acquired the life reinsurance business of National Reinsurance of Canada,[8] later renamed General American Life Reinsurance Company of Canada,[9] thereby establishing its first international office; the Canadian business became RGA Life Reinsurance Company of Canada after RGA's initial public offering (IPO).

Incorporated in 1992 in the state of Missouri,[10] Reinsurance Group of America, Incorporated (RGA) was formed as a holding company for GA's U.S. and Canadian reinsurance businesses. RGA was taken public by IPO in 1993 on the New York Stock Exchange (NYSE: RGA), with General American retaining a 65% share.[11]

MetLife acquired General American in 2000, including its interest in RGA,[12] and after 8 years of ownership, MetLife spun RGA off to become a fully independent company.[13]

Awards

Ranked 257 on the 2023 Fortune 500 list,[14] and named to the 2023 Fortune's list of the "World’s Most Admired Companies".[15] RGA was also named to Forbes' “America’s 50 Most Trustworthy Financial Companies” 2014 list[16] and the Forbes Global 2000: Best Regarded Companies list.[17] In 2023, RGA was ranked #1 on NMG Consulting's Global All Respondent Business Capability Index (BCI) for the 12th consecutive year, based on feedback from insurance executives in more than 50 markets.[18]

Products and services

RGA's products and services include life reinsurance, living benefits reinsurance, group reinsurance, health reinsurance, financial solutions, facultative underwriting, and product development. "CBInsights". https://www.cbinsights.com/company/reinsurance-group-of-america. 

References

  1. ↑ "Reinsurance Group of America | 2021 Fortune 500". http://fortune.com/fortune500/reinsurance-group-of-america/. 
  2. ↑ "Forbes – The World's Largest Public Companies". https://www.forbes.com/companies/reinsurance-group/. 
  3. ↑ "Barrons– Reinsurance Group of America Reports Third Quarter Results". https://www.barrons.com/articles/reinsurance-group-of-america-reports-third-quarter-results-4979b19b. 
  4. ↑ "A.M. Best: Top 50 World's Largest Reinsurance Groups". http://www.ambest.com/review/displaychart.aspx?Record_Code=274409. 
  5. ↑ "RGA Annual Report". https://www.rgare.com/docs/default-source/investor-relations/2018-annual-report.pdf. 
  6. ↑ "RGA IPO"
  7. ↑ Strength, Stability, Service – General American 1992 Annual Report, p.34
  8. ↑ "Ombudsman for Life and Health Insurance Canada (French)". https://www.oapcanada.ca/resultats-de-la-recherche-2/. 
  9. ↑ "Office of the Superintendent of Financial Institutions Canada (French)". 22 October 2013. http://www.osfi-bsif.gc.ca/fra/fi-if/ic-sa/Pages/wwr.aspx. 
  10. ↑ "State of Missouri Incorporation". https://bsd.sos.mo.gov/Common/CorrespondenceItemViewHandler.ashx?IsTIFF=true&filedDocumentid=2080264&version=1. 
  11. ↑ "GENERAL AMERICAN COMPLETES IPO OF REINSURANCE GROUP OF AMERICA; A.M. BEST ASSIGNS INITIAL RATING TO SAINT LOUIS RE. PR Newswire, 6 May 1993, p. 0506NY107. General OneFile". https://rgare.com/docs/default-source/history/general_american_completes_ipo.pdf. 
  12. ↑ "MetLife to Buy General American for $1.2 Billion.A.M. Best Newswire, 27 Aug. 1999, p. 1008238u3131. General OneFile". http://0-link.galegroup.com.iii.slcl.org/apps/doc/A55574514/ITOF?u=slclpowersearch&sid=ITOF&xid=338b5ff3/. 
  13. ↑ "RGA IPO". https://www.sec.gov/Archives/edgar/data/898174/000095013708011617/c35483e8vk.htm. 
  14. ↑ "Fortune Ranking". http://fortune.com/fortune500. 
  15. ↑ "Fortune Most Admired". https://fortune.com/company/reinsurance-group-of-america/worlds-most-admired-companies/. 
  16. ↑ "America's 50 Most Trustworthy Financial Companies". https://www.forbes.com/sites/kathryndill/2014/04/01/americas-50-most-trustworthy-financial-companies/#5b453d5e618f. 
  17. ↑ "Global2000: Best Regarded Companies". https://www.forbes.com/top-regarded-companies/list/. 
  18. ↑ "NMG Consulting Global All Respondent Business Capability Index". https://www.intelligentinsurer.com/article/not-all-reinsurers-are-created-equal/. 

External links




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