# Reinsurance Group of America, Incorporated > Clarifo company profile — qualitative business description generated from > the company's filings. Financial statements, charts and ratios are > available on Clarifo (https://www.clarifo.com/fi/companies/Reinsurance Group of America, Incorporated). ## Overview Reinsurance Group of America is a U.S.-based insurance holding company focused on life and health reinsurance. Through its subsidiaries, it provides traditional mortality, morbidity, longevity and asset-intensive reinsurance to insurance companies across the Americas, Europe, Asia Pacific, the Middle East, Africa and Australia. ## Products & services • Traditional life reinsurance • Health, disability and critical illness reinsurance • Longevity and payout annuity reinsurance • Asset-intensive reinsurance • Financial reinsurance and capital solutions • Funding Agreement Backed Note (FABN) program - **Traditional life and health reinsurance** (45%) — Yearly renewable term, coinsurance and facultative treaties covering mortality, morbidity, disability and critical illness risk. - **Asset-intensive reinsurance** (30%) — Reinsurance of annuities, corporate-owned life insurance and other products with significant investment risk. - **Financial solutions** (20%) — Longevity, closed-block, capital management and other structured reinsurance transactions. - **Funding Agreement Backed Notes and related spread business** (5%) — Funding agreements and related spread-based liabilities used to support institutional note issuance. - Traditional life reinsurance - Health, disability and critical illness reinsurance - Longevity and payout annuity reinsurance - Asset-intensive reinsurance - Financial reinsurance and capital solutions - Funding Agreement Backed Note (FABN) program ## Customers RGA sells primarily to life insurance companies and other insurers that want to transfer mortality, longevity, morbidity or investment risk. Its clients include large global insurers, regional life companies and, in some structures, institutional investors that participate in funding-agreement backed note programs. The business is relationship-driven and depends on insurers seeking capital relief, earnings stability, and access to reinsurance expertise. - **Global life insurance companies** (primary) — Buy traditional life and health reinsurance to transfer mortality, morbidity and longevity risk and to support underwriting capacity. - **Regional and local insurers** (primary) — Buy treaty reinsurance for individual and group life, disability, critical illness and superannuation-related coverage. - **Annuity and asset-intensive writers** (primary) — Buy structured reinsurance on annuities, corporate-owned life insurance and other investment-sensitive blocks. - **Capital management and closed-block clients** (secondary) — Buy longevity, closed-block and financial solutions transactions to manage capital and runoff exposure. - **Institutional investors** (emerging) — Participate in FABN issuance backed by funding agreements with matching terms. - Large global life insurers buying mortality and longevity protection - Regional life and health insurers seeking capital and risk relief - Insurers with annuity or asset-intensive blocks needing spread support - Ceding companies using reinsurance to meet regulatory requirements - Institutional investors in FABN-related note programs ## Geography RGA operates through regional segments in the U.S. and Latin America, Canada, EMEA and Asia Pacific, with corporate functions supporting the global platform. Its business is geographically diversified, but local regulation, currency, and insurance market structure shape the mix of treaties and the type of reinsurance written in each region. - **U.S. and Latin America** (0%) — Regional operating segment disclosed, but no revenue share provided in excerpts. - **Canada** (0%) — Regional operating segment disclosed, but no revenue share provided in excerpts. - **Europe, Middle East and Africa** (0%) — Regional operating segment disclosed, but no revenue share provided in excerpts. - **Asia Pacific** (0%) — Regional operating segment disclosed, but no revenue share provided in excerpts. - U.S. and Latin America is a core operating segment - Canada focuses on life, health and asset-intensive reinsurance - EMEA writes traditional and financial solutions business - Asia Pacific includes offices across Asia and Australia - Geographic mix affects regulation, currency and product structure ## Strategy RGA’s strategy centers on combining underwriting expertise, data analytics and investment discipline to win complex reinsurance transactions. It also emphasizes global client relationships, product innovation and capital-efficient structures that help insurers manage risk, regulation and balance sheet needs. - **Grow traditional and structured reinsurance** (medium-term) — Broader product capability helps win large blocks and recurring treaty business. - **Maintain disciplined asset-liability management** (short-term) — Reinsurance economics depend on matching asset duration, currency and credit characteristics to liabilities. - **Broaden global client relationships** (medium-term) — Large insurers value execution certainty, service and long-term capacity from a stable reinsurer. - Use underwriting and analytics to price mortality and longevity risk - Expand structured and asset-intensive reinsurance solutions - Deepen relationships with large global and regional insurers - Match assets and liabilities through disciplined investment management - Use partnerships and innovation to open new markets ## Risks RGA is exposed to underwriting risk from mortality, morbidity, lapse and longevity experience, as well as investment and interest-rate risk on asset-intensive and spread-based business. It also faces counterparty, regulatory, currency and execution risks because reinsurance contracts are long-dated, highly regulated and often structured across multiple jurisdictions. - **Assumption risk in mortality, morbidity and lapse rates** [high] — Pricing depends on experience assumptions that can prove wrong over long contract lives. - **Longevity and asset-intensive spread risk** [high] — Longer-than-expected policy lives or lower investment spreads can pressure economics. - **Counterparty and retrocession credit risk** [medium] — Recoveries depend on the financial strength of ceding companies and retrocessionaires. - **Regulatory and execution risk on large transactions** [medium] — Deals can be delayed, restructured or fail to close, affecting growth and capital deployment. - **Foreign exchange and jurisdictional risk** [medium] — Operations span multiple currencies and insurance regimes across regions. - Mortality and morbidity experience can differ from pricing assumptions - Longevity risk affects annuity and closed-block transactions - Investment returns and interest rates affect spread business economics - Large client concentration can affect premium flows and renewals - Reinsurance counterparties and retrocessionaires create credit exposure ## Accounting Insurance accounting is driven by estimates for future policy benefits, claims, lapses, expenses and investment returns, so assumption updates can move earnings materially. Asset-intensive and financial solutions business also requires judgment around deposit accounting, fair value, derivatives and spread recognition, while reinsurance recoverables and goodwill remain important balance-sheet estimates. - **Insurance reserves and future policy benefits** — Mortality, morbidity, lapse, longevity and expense assumptions - **Asset-intensive and financial solutions accounting** — Annuities, funding agreements and closed blocks - **Derivatives and fair value measurements** — Interest-rate, currency and credit risk management - **Reinsurance recoverables and credit estimates** — Balance sheet assets and loss recognition - Future policy benefits and claims reserves depend on actuarial assumptions - Asset-intensive business is sensitive to spread and deposit accounting - Derivative valuation affects reported results and hedging outcomes - Reinsurance recoverables depend on counterparty collectability - Goodwill and intangible assets may require impairment testing --- *Last updated: 2026-04-29T04:51:41.654748+00:00*