Reinsurance Group of America
Global reinsurance company
 | |
| Company type | Public |
|---|---|
Traded as | NYSE: RGA S&P 400 Component |
| ISIN | US7593516047 |
| Industry | Reinsurance |
| Founded | 1973 (1973) |
| Headquarters | Chesterfield, Missouri, United States |
Key people | Tony Cheng (CEO) |
| Products | Life reinsurance, living benefits reinsurance, health reinsurance, underwriting, financial solutions |
| Revenue | $16.2 billion (2022*) *As of December 31, 2022 |
Net income | $521 million (2022*) |
| Total assets | $84.9 billion (2022*) |
Number of employees | 4000[1] (2023) |
| Parent | Reinsurance Group of America |
| Website | www |
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 $3.5 trillion of life reinsurance in force and assets of $87.4 billion as of September 30, 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 257 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
- ^ "Reinsurance Group of America | 2021 Fortune 500".
- ^ "Forbes – The World's Largest Public Companies". Forbes.
- ^ "Barrons– Reinsurance Group of America Reports Third Quarter Results".
- ^ "A.M. Best: Top 50 World's Largest Reinsurance Groups".
- ^ "RGA Annual Report" (PDF).
- ^ "RGA IPO"
- ^ Strength, Stability, Service – General American 1992 Annual Report, p.34
- ^ "Ombudsman for Life and Health Insurance Canada (French)".
- ^ "Office of the Superintendent of Financial Institutions Canada (French)". 22 October 2013.
- ^ "State of Missouri Incorporation".
- ^ "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).
- ^ "MetLife to Buy General American for $1.2 Billion.A.M. Best Newswire, 27 Aug. 1999, p. 1008238u3131. General OneFile".
- ^ "RGA IPO".
- ^ "Fortune Ranking".
- ^ "Fortune Most Admired".
- ^ "America's 50 Most Trustworthy Financial Companies". Forbes.
- ^ "Global2000: Best Regarded Companies". Forbes.
- ^ "NMG Consulting Global All Respondent Business Capability Index".
External links
- Official website
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