RGA Sees Strong Competition for Annuity Reinsurance Deals
October 29, 2018 by Allison Bell
Executives at Reinsurance Group of America Inc. say competition for annuity and pension reinsurance business is strong.
RGA executives talked about the state of the longevity deal market Friday, during a conference call with securities analysts.
Anna Manning, the president of the Chesterfield, Missouri-based life reinsurer, told the analysts that the performance of reinsurance arrangements reinsuring U.S. individual life insurance was strong in the third quarter,
Manning also told the analysts that RGA made two large annuity deals during the quarter.
One was for individual annuities that are in payout status, and another was for a block of fixed deferred annuities. The larger of the two blocks was backed by $2.8 billion in assets, Manning said.
“Competition was strong on those deals,” Manning said.
Click HERE to read the full story via ThinkAdvisor.
