˿ƵAPP to Reinsure £900 Million Block of LV= Annuity Business
LONDON, Dec. 19, 2017 – Reinsurance Group of America, Incorporated (NYSE: ˿ƵAPP), a leading global life reinsurer, today announced the completion of an asset and longevity risk transaction with Liverpool Victoria Friendly Society (LV=). Under the agreement, ˿ƵAPP will reinsure approximately £900 million in individual annuity business.
“This transaction supports ˿ƵAPP’s key initiative to expand asset-intensive partnerships in the European market,” said John Laughlin, Executive Vice President, Global Financial Solutions, ˿ƵAPP. “Creating an innovative structure allowed ˿ƵAPP to develop an attractive longevity, risk, and asset strategy that provides significant capital and risk benefit for LV=.”
“This transaction is a key part of the risk management and capital efficiency programme LV= has been running for a number of years which is focused on reducing volatility of our Solvency II balance sheet and member outcomes,” said Mark Laidlaw, Chief Capital and Investment Officer at LV=.
Additional terms of the transaction are not being disclosed.
About ˿ƵAPP
Reinsurance Group of America, Incorporated (˿ƵAPP), a Fortune 500 company, is among the leading global providers of life reinsurance and financial solutions, with approximately $3.3 trillion of life reinsurance in force and assets of $58.7 billion as of September 30, 2017. Founded in 1973, ˿ƵAPP today is recognized for its deep technical expertise in risk and capital management, innovative solutions, and commitment to serving its clients. With headquarters in St. Louis, Missouri and operations in 26 countries, ˿ƵAPP delivers expert solutions in individual life reinsurance, individual living benefits reinsurance, group reinsurance, health reinsurance, facultative underwriting, product development, and financial solutions. To learn more about ˿ƵAPP and its businesses, visit the company’s website at .
“This transaction supports ˿ƵAPP’s key initiative to expand asset-intensive partnerships in the European market,” said John Laughlin, Executive Vice President, Global Financial Solutions, ˿ƵAPP. “Creating an innovative structure allowed ˿ƵAPP to develop an attractive longevity, risk, and asset strategy that provides significant capital and risk benefit for LV=.”
“This transaction is a key part of the risk management and capital efficiency programme LV= has been running for a number of years which is focused on reducing volatility of our Solvency II balance sheet and member outcomes,” said Mark Laidlaw, Chief Capital and Investment Officer at LV=.
Additional terms of the transaction are not being disclosed.
About ˿ƵAPP
Reinsurance Group of America, Incorporated (˿ƵAPP), a Fortune 500 company, is among the leading global providers of life reinsurance and financial solutions, with approximately $3.3 trillion of life reinsurance in force and assets of $58.7 billion as of September 30, 2017. Founded in 1973, ˿ƵAPP today is recognized for its deep technical expertise in risk and capital management, innovative solutions, and commitment to serving its clients. With headquarters in St. Louis, Missouri and operations in 26 countries, ˿ƵAPP delivers expert solutions in individual life reinsurance, individual living benefits reinsurance, group reinsurance, health reinsurance, facultative underwriting, product development, and financial solutions. To learn more about ˿ƵAPP and its businesses, visit the company’s website at .