67 Reinsurance Group of America (RGA), a prominent global reinsurer in life and health, has announced a groundbreaking agreement with Japan Post Insurance Company. The deal entails an RGA affiliate reinsuring an in-force block of individual life annuities worth around 700 billion JPY through coinsurance. This transaction stands as a significant development in Japan’s longevity market, aligning with the strategic objectives of one of the nation’s leading life annuity providers. Gaston Nossiter, Senior Vice President and Head of Asia Pacific, Global Financial Solutions at RGA, emphasized the transaction’s importance, stating, “This transaction marks a significant milestone in the Asia-Pacific longevity market as a first-of-its-kind coinsurance transaction in Japan.” He also highlighted RGA’s expertise and strong foothold in the Japanese and Asia Pacific markets, underscoring the company’s commitment to supporting clients in managing in-force capital and pursuing new business goals. Kampo expressed satisfaction with the partnership, noting RGA’s consistent delivery of tailored coinsurance solutions to bolster capital management. The company highlighted the collaborative nature of the agreement, emphasizing its dedication to customers and strategic objectives. Hironori Takahashi, CEO of RGA Japan, echoed the sentiment, emphasizing RGA’s enduring partnership with Kampo and its role in crafting solutions to mitigate longevity risk and optimize capital. He also pointed out RGA’s local presence in Japan as a key asset, enabling the company to guide clients through capital optimization complexities towards innovative solutions aligned with their capital and regulatory requirements. You Might Be Interested In Hawksford Expands Global Presence with Acquisition of Paradigm Governance Partners World Bank, EU, UN Report Evaluates Impact of Severe Flooding in Libya Nobel laureate Diamond suggests India take defensive stance on monetary, fiscal policy amid global tightening Pfizer’s ABRYSVO Shows Promise in Phase 3 Study for RSV Prevention BRICS invites 6 new members, including Saudi Arabia and Iran Tesla shares valued $3.58 billion sold by Elon Musk