Acquisitions

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Adding capabilities and capital to support clients in reaching their goals.



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How Does RGA Perform Acquisitions? 

RGA works with clients to help achieve three types of opportunities:

  • Total divestiture of an entity.
  • Reinsurance with transfer of direct policy administration.
  • Block reinsurance: coinsure (a portion of an) in-force block through an Asset-Intensive transaction.

RGA's Global Financial Solutions Acquisitions team supports our clients in the acquisition and / or disposition of business by assisting with diligence, co-investing, reinsuring the whole or aspects of the risks to facilitate transactions (including assuming responsibility for direct policy administration), and providing cash and regulatory financing.

How Can RGA's Acquisitions Team Help My Company?


Conducting acquisitions well requires deep expertise and experience. RGA's team draws on a long history of successful acquisitions. Explore our timeline below to review our decades-long history of successful deals. Additionally, Direct Policy Administration (DPA) can be complex and resource intensive. RGA will work with you to review your DPA needs, and determine this best solution utilizing our team with 100+ years of combined experience.

 

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Our Timeline


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2009 (Entity)
2011 (Entity)
2012
2014 (Entity)
2015 (Entity)
2017 (In-Force)
2019
2021 (Entity)
2018
RGA Acquires Reliastar Group Re Business — Entity Acquisition

RGA acquires group reinsurance business from ReliaStar Life Insurance Company, a subsidiary of ING Groep N.V. The acquisition is structured as an indemnity coinsurance agreement.

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Leidsche — Entity Acquisition

RGA acquired the Dutch life insurance company, Leidsche Verzekering Maatschappij N.V. (Leidsche).

Philadelphia Financial Group— Entity Transaction

RGA provided cash financing to Philadelphia Financial Group in support of their $117 million acquisition of Hartford Life Private Placement LLC from The Hartford.

John Hancock — In-Force Transaction

RGA conducted a $5.4 billion transaction with John Hancock.


Aurora National Life Assurance Company — Equity Transaction

RGA acquired Aurora National Life Assurance Company (“Aurora”), a wholly-owned life insurance subsidiary of Swiss Re with approximately 82,000 policies in force and statutory policyholder liabilities of $2.7 billion. The underlying business is comprised of approximately two-thirds of annuities, primarily payout annuities, and one-third of interest-sensitive life products.

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Elite Sales Processing — Entity Acquisition
RGA acquired Nebraska-based underwriting services provider, Elite Sales Processing, Inc. (ESP)., a leader in the growing outsourced underwriting market.

Annuity Transaction with Zurich — In-Force Transaction

RGA conducted an asset-intensive transaction with Farmers New World Life (FNWL), a subsidiary of Zurich Insurance Group, to reinsure a closed block of U.S. annuity business and FNWL will continue to service and administer the policies. The transaction increased RGA’s invested asset base by approximately $2.3 billion.

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Horace Mann — In-Force Acquisition

RGA completed a $2.9 billion annuity reinsurance transaction with Horace Mann Life Insurance Company, a subsidiary of Horace Mann Educators Corporation (NYSE: HMN), the largest financial services company focused on providing America's educators and school employees with insurance and retirement solutions.


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Omnilife — Entity Acquisition

RGA acquired the group insurance business Omnilife, and the company is now a specialist insurer, focused on acquiring and managing the liabilities of closed life insurance portfolios.

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Hodge Life Assurance Company Limited — Entity Acquisition

RGA agreed to acquire 100% of the share capital of Hodge Life Assurance Company Limited (HLAC), the PRA-authorized life insurance company of Hodge Limited. HLAC has annuity liabilities of approximately £570 million ($780 million U.S.).

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John Hancock and Mid-Size Mutual Insurer — In-Force Transaction

RGA conducted annuity in-force block transactions with John Hancock and reinsurance transactions with Manulife Canada, acquiring a $3 billion in-force block of individual payout annuities. In the same year, RGA conducted a $1.1 billion annuity reinsurance transaction with a mid-sized mutual insurance company. 

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LOGiQ3 — Entity Acquisition

RGAX, a subsidiary of RGA, agreed to acquire LOGiQ3 Inc. – a group of companies that provides technology, consulting, and outsourcing solutions to the North American life insurance and reinsurance industry. The LOGiQ3 Group includes LOGiQ3 Corp., APEXA, Cookhouse Lab, and Tindall Associates Inc. (TAI).

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Greenhouse Insurance — Entity Acquisition

RGA assembles Greenhouse Insurance with the mission to empower carriers and partners to launch innovative life insurance solutions with greater speed and confidence.

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Richard Leblanc

Why RGA? 

Most transactions are long-tailed, and so are RGA's partnerships with counterparties. RGA delivers a long record of execution certainty, from demonstrating commitment as a buyer to arranging financing contingencies and regulatory approvals to delivering sufficient capital and capacity to complete a transaction. We are able to tailor each solution to meet the client's unique objective. 

RGA can structure reinsurance, stock purchase, and swap solutions as well as partnership approaches. 

Deep Experience

Decades of actuarial and management experience that can: 

  • Reduce the risk of last-minute surprises
  • Empower counterparties to better navigate regulatory and tax issues
  • More seamlessly integrate blocks of business

Financial Strength

Strong ability to assume operational as well as financial risks, including:

  • The assumption of legacy systems and DPA ability
  • Experience working with third-party administrators to reduce operating expenses

Real Value

It is imperative to choose a well-regarded counterparty among relevant regulators or there is a risk that the transaction is not approved. RGA offers real value and competitive pricing, as well as other tangible benefits: 

  • Residual liability (e.g., IBNR)
  • Ongoing obligations (e.g., direct policy administration)
  • Counterparty exposure (e.g., financial strength, collateral, credit for reinsurance)
  • Ease of execution / transition
  • Ongoing relationship with the buyer
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Let's Connect

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Emma Ferris
Emma Ferris

Senior Vice President 
Business Development, EMEA
Global Financial Solutions 


Senior Vice President 
Acquisitions, EMEA
Corporate Development

Contact Emma
Bio
Simon Robinson
Simon Robinson

Vice President
Business Development 
Acquisitions, EMEA
Global Financial Solutions

Contact Simon
Bio

Our Team is Here
to Help

 

RGA will work with you. reviewing your needs and adding capabilities and capital utilizing a team with 100+ years of combined experience. 

Curious? Contact us. 

Get in Touch
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