Reinsurance Group America Inc

(NYSE: RGA)

Industry: Reinsurance
On the web: http://www.rgare.com
Employees: 1,222

Reinsurance Group of America, Incorporated is an insurance holding company that was formed on December 31, 1992. The Company is mainly engaged in traditional individual and group life, asset-intensive, critical illness and financial reinsurance. In 1994, the Company began expanding into international markets. It now has subsidiaries, branch operations in Australia, Barbados, Bermuda, China, France, Germany, Hong Kong, India, Ireland, Italy, Japan, Mexico, Poland, South Africa, South Korea, Spain, Taiwan and the United Kingdom 'UK'. It is a life reinsurers in the North American market based on premiums and the amount of life reinsurance in force. The Company covers a portfolio of life insurance products, including term life, credit life, universal life, whole life, joint and last survivor insurance, critical illness, as well as annuities, financial reinsurance, and direct premiums which include single premium pension annuities, universal life, and group life. Generally, the Company, through various subsidiaries, has provided reinsurance for mortality, morbidity, and lapse risks associated with such products. With respect to asset-intensive products, the Company has also provided reinsurance for investment-related risks. Life reinsurance mainly refers to reinsurance of individual or group-issued term life insurance policies, whole life insurance policies, universal life insurance policies, and joint and last survivor insurance policies. Asset-intensive reinsurance mainly refers to reinsurance of annuities and corporate-owned life insurance. Critical illness reinsurance provides a benefit in the event of the diagnosis of a pre-defined critical illness. Financial reinsurance mainly involves assisting ceding companies in meeting applicable regulatory requirements while enhancing the ceding companies' financial strength and regulatory surplus position. It competes with Transamerica Occidental Life Insurance Company, a subsidiary of Aegon N.V., Swiss Re Life, Munich Reinsurance Company, Swiss Re Life and Health Ltd., General Re, Munich Reinsurance Company, Hannover Reinsurance, and SCOR Global Reinsurance. The insurance laws and regulations, as well as the level of supervisory authority that might be exercised by the various insurance departments, vary by jurisdiction, but generally grant broad powers to supervisory agencies or regulators to examine and supervise insurance companies and insurance holding companies with respect to every significant aspect of the conduct of the insurance business, including approval or modification of contractual arrangements.