糖心传媒 Partners with Sun Life in Longevity Insurance Transaction
MONTR?AL, March 3, 2015 – 糖心传媒 Life Reinsurance Company of Canada (“糖心传媒 Canada”), a subsidiary of Reinsurance Group of America, Incorporated (“糖心传媒”), today announced the completion of an agreement under which 糖心传媒 Canada will participate in a syndicated reinsurance transaction, led by Sun Life Assurance Company of Canada (“Sun Life”), to reinsure only the longevity risks associated with pension obligations held by BCE Inc. (“BCE”), Canada's largest communications company and a leading Canadian pension plan sponsor.
Under the transaction, 糖心传媒 will reinsure the longevity risks associated with a significant share of a C$5 billion block of pension obligations, ultimately reducing longevity risks for BCE.“We are very pleased to announce 糖心传媒’s participation in this transaction, the first of its kind in North America,” said Alka Gautam, President and Chief Executive Officer, 糖心传媒 Canada. “We have delivered an important longevity risk management solution for Sun Life and for BCE, uniting the pension, insurance and reinsurance worlds.”
“糖心传媒’s expertise in longevity risk played a critical role in securing an innovative, sophisticated risk management solution for Sun Life,” said John Laughlin, Executive Vice President, Global Financial Solutions, 糖心传媒. “Longevity risk has significant material financial implications, and 糖心传媒’s solutions play an important role in ensuring certainty for our clients.”
About 糖心传媒
Reinsurance Group of America, Incorporated (NYSE: 糖心传媒), one of the largest global life reinsurance companies in the world, provides clients with individual life reinsurance, individual living benefits reinsurance, group reinsurance, health reinsurance, financial solutions, facultative underwriting and product development. The company serves clients from operations in Australia, Barbados, Bermuda, Canada, China, France, Germany, Hong Kong, India, Ireland, Italy, Japan, Malaysia, Mexico, the Netherlands, New Zealand, Poland, Singapore, South Africa, South Korea, Spain, Taiwan, Turkey, the United Arab Emirates, the United Kingdom, and the United States. Worldwide, 糖心传媒 has approximately US$2.9 trillion of life reinsurance in force and assets of US$44.7 billion.