Strong Partnerships Turn Challenges into Opportunities

Cormac Galvin, Vice President, Business Development, Global Financial Solutions, U.K. and Ireland.

Many insurers sought new alternatives to navigate the evolving economic landscape in 2016. Partnering with a reinsurer through structured financial transactions and block acquisitions offered a cost-effective solution. At RGA, building strong partnerships extends beyond any one year; it resides at the core of the company’s foundational business philosophy.

RGA has become a global reinsurance leader and capital solutions partner of choice through an unrelenting focus on clients. Experienced professionals listen to insurers and structure transactions tailored to achieve their specific goals. By identifying the “why” and not just the “what” of a situation, RGA develops solutions that emphasize long-term results over short-term gains and can survive regulatory scrutiny. Capital solutions teams adapt as insurers’ needs evolve and revise treaties over time to reflect current conditions. RGA’s unparalleled success in this area is best measured by the large amount of repeat business from returning clients year after year.

In 2016, the U.K. team epitomized the effectiveness of RGA’s approach. One client, with whom RGA had completed a large asset-intensive transaction in 2015, sought to free up capital to facilitate a major acquisition. A close relationship and earned reputation positioned RGA as a trusted partner to execute a capital-freeing longevity swap. Another longstanding client sought to optimize capital efficiency by eliminating redundant reserve financing. RGA leveraged a deep understanding and familiarity with the client to develop an innovative financial reinsurance structure, the first of its kind in the U.K. under Solvency II.