Reinsurance Group of America (RGA) has reached an agreement with Tokio Marine & Nichido Life Insurance (Anshin Life) to reinsure approximately US$638 million paid-up block of whole life policies through coinsurance.
Gaston Nossiter, senior vice president and head of Asia Pacific, Global Financial Solutions, at RGA, comments: “Our ongoing partnership with Anshin Life is a testament to RGA’s strategic commitment to the Japanese market and our understanding of its distinctive requirements.
“This transaction is a reflection of our deep-rooted dedication to collaborate with insurers, addressing capital and market risks, and affirming our readiness to support our clients’ evolving goals with innovative and customised financial solutions.”
A representative of Anshin Life says: “RGA’s local presence and ongoing partnership have been a key advantage, and they provided an attractive option that addresses our asset liability management strategies.
“Their ability to understand Japan’s unique market conditions and their flexible approach to responding to our specific needs have made them an excellent reinsurance partner.”
RGA, a global life and health reinsurance company, holds approximately US$3.7 trillion of life reinsurance in force and US$106 billion in assets.
