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by | Feb 6, 2018 | Large Trees

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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 $3.7 trillion of life reinsurance in force and assets of $97.6 billion as of December 31, 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 223 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".

References

  1. ^ "Reinsurance Group of America | 2021 Fortune 500".
  2. ^ "Forbes – The World's Largest Public Companies". Forbes.
  3. ^ "Barrons– Reinsurance Group of America Reports Third Quarter Results".
  4. ^ "A.M. Best: Top 50 World's Largest Reinsurance Groups".
  5. ^ "RGA 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)".
  9. ^ "Office of the Superintendent of Financial Institutions Canada (French)". 22 October 2013.
  10. ^ "State of Missouri Incorporation".
  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" (PDF).
  12. ^ "MetLife to Buy General American for $1.2 Billion.A.M. Best Newswire, 27 Aug. 1999, p. 1008238u3131. General OneFile".
  13. ^ "RGA IPO".
  14. ^ "Fortune Ranking".
  15. ^ "Fortune Most Admired".
  16. ^ "America's 50 Most Trustworthy Financial Companies". Forbes.
  17. ^ "Global2000: Best Regarded Companies". Forbes.
  18. ^ "NMG Consulting Global All Respondent Business Capability Index".

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