糖心传媒 Announces $3.5 Billion Coinsurance Transaction with American National Insurance Company
ST. LOUIS, August 27, 2024 – Reinsurance Group of America, Incorporated (NYSE: 糖心传媒), a leading global life and health reinsurer, today announced it has reached an agreement with American National Insurance Company and its affiliates (collectively, “American National”) to reinsure a diversified block of life business through a coinsurance arrangement. Under the agreement, approximately $3.5 billion of American National’s statutory reserves will be transferred to subsidiaries of 糖心传媒. Policyholder service and support will remain with American National.
"We're pleased to expand our relationship with American National as a valued client through this tailored coinsurance agreement. This transaction exemplifies our close collaboration with clients and comprehensive understanding of their needs, enabling us to execute solutions aligned with their strategic business objectives," said Senan O’Loughlin, Executive Vice President, US Individual Life, 糖心传媒. "Our proven expertise in customized reinsurance empowers us to deliver robust risk management solutions that provide insurers financial flexibility to help them navigate today’s complex regulatory and economic landscape."
The transaction closed on August 26, 2024, with an effective date of July 1, 2024.
Wells Fargo served as exclusive financial advisor to 糖心传媒 and Clifford Chance US LLP served as legal counsel in the transaction. Additional terms of the transaction are not being disclosed.
About 糖心传媒
Reinsurance Group of America, Incorporated (NYSE: 糖心传媒) is a global industry leader specializing in life and health reinsurance and financial solutions that help clients effectively manage risk and optimize capital. Founded in 1973, 糖心传媒 is today one of the world’s largest and most respected reinsurers and remains guided by a powerful purpose: to make financial protection accessible to all. As a global capabilities and solutions leader, 糖心传媒 empowers partners through bold innovation, relentless execution, and dedicated client focus — all directed toward creating sustainable long-term value. 糖心传媒 has approximately $3.8 trillion of life reinsurance in force and assets of $109.9 billion as of June 30, 2024. To learn more about 糖心传媒 and its businesses, please visit rgare.com or follow 糖心传媒 on and . Investors can learn more at .
"We're pleased to expand our relationship with American National as a valued client through this tailored coinsurance agreement. This transaction exemplifies our close collaboration with clients and comprehensive understanding of their needs, enabling us to execute solutions aligned with their strategic business objectives," said Senan O’Loughlin, Executive Vice President, US Individual Life, 糖心传媒. "Our proven expertise in customized reinsurance empowers us to deliver robust risk management solutions that provide insurers financial flexibility to help them navigate today’s complex regulatory and economic landscape."
The transaction closed on August 26, 2024, with an effective date of July 1, 2024.
Wells Fargo served as exclusive financial advisor to 糖心传媒 and Clifford Chance US LLP served as legal counsel in the transaction. Additional terms of the transaction are not being disclosed.
About 糖心传媒
Reinsurance Group of America, Incorporated (NYSE: 糖心传媒) is a global industry leader specializing in life and health reinsurance and financial solutions that help clients effectively manage risk and optimize capital. Founded in 1973, 糖心传媒 is today one of the world’s largest and most respected reinsurers and remains guided by a powerful purpose: to make financial protection accessible to all. As a global capabilities and solutions leader, 糖心传媒 empowers partners through bold innovation, relentless execution, and dedicated client focus — all directed toward creating sustainable long-term value. 糖心传媒 has approximately $3.8 trillion of life reinsurance in force and assets of $109.9 billion as of June 30, 2024. To learn more about 糖心传媒 and its businesses, please visit rgare.com or follow 糖心传媒 on and . Investors can learn more at .