Geographic Operations

Canada Operations

RGA Canada recorded $877 million in net premiums and $1.1 billion in total revenues in 2015, generating $138 million in pre-tax income, a 36% increase over 2014. For the ninth consecutive year, RGA wrote the leading share of individual life recurring new business in this key market.



RGA net premiums derived from Canada operations in 2015.

For the seventh consecutive time, RGA Canada was ranked #1 on the Business Capability Index in NMG Consulting’s 2015 study of Canadian ceding companies.

$333 billion

Canada Operations ended 2015 with $333 billion of life reinsurance in force.

$1.1 billion

Total revenue exceeded $1 billion for the fifth consecutive year.

$138 million

Pre-tax income totaled $138 million, a 36% increase over 2014.


Alka Gautam    President and Chief Executive Officer, RGA Life Reinsurance Company of Canada


How does RGA maintain its leading share of the Canadian life reinsurance market year after year?

In an industry that, by its nature, may see volatility in the short term, insurers know they can turn to RGA for reliable, long-term solutions. RGA’s rich database of mortality risks provides a robust basis for evaluating the effects of selection, determining underwriting criteria, and developing appropriate pricing and modeling of risks. RGA Canada recorded another solid year in 2015 as a direct result of our underwriters, actuaries, and claims professionals applying their accumulated knowledge and expertise on behalf of our clients.


RGA Canada completed a landmark longevity transaction in 2015. Why was it significant?

It was the first transaction of its kind in North America, bringing together pension, insurance, and reinsurance entities, and required an understanding of our client’s business, deep expertise in pension risk transfer, and sophisticated execution. Such longevity risk solutions offer pension plan sponsors and insurers a method of transferring long-tail liabilities to achieve more efficient deployment of capital, which is particularly valuable in the current low interest rate environment.


What is RGA doing to address client concerns about renewal lapses of term life insurance products?

In 2015, RGA Canada released the results of our second study on individual life post-renewal term experience, along with our comprehensive analysis of its potential impact on pricing assumptions. We followed that with a webcast on the relationship between the renewal premium increase, lapses, and mortality. We also continue to examine the value of products such as yearly renewable term (YRT) mortality reinsurance and the growing interest of insurers in ceding lapse risk through coinsurance.


How is RGA helping clients succeed in an increasingly competitive Canadian market?

Within Canada’s life and health markets, RGA’s comprehensive expertise in mortality, health, critical illness, and disability risks offers insurers valuable insight to correctly price and market products to serve customers. RGA Canada’s diverse range of offerings also includes longevity risk and capital management solutions, and our annual seminars and forums allow clients to network and stay abreast of developing industry trends. Above all, we help our clients capitalize on opportunities, by applying knowledge, ideas, and insights from our diversified business lines and global operations.

Year in Review

Continued strong client relationships and excellent customer service at a competitive price have positioned RGA Life Reinsurance Company of Canada (RGA Canada) as a leader in the life and health reinsurance market, and accelerated the division’s growth into related lines of business. RGA Canada provides market-leading individual life reinsurance services, as well as creditor, group life and health, living benefits, and longevity reinsurance.

Robust new business growth and increased persistency within in-force business produced strong mortality results for RGA Canada and drove an increase in pre-tax income of $36.4 million, or 36%, over 2014. New assumed individual life reinsurance volume reached $39 billion in 2015, as RGA reinsured close to 20% of all new life insurance in Canada, maintaining its approximate one-third market share.

RGA Canada remained the market leader in individual life reinsurance. The underwriting team processed more than 40,000 facultative applications in 2015, a record high. The division also pursued growth opportunities in individual living benefits, group life and health, and longevity products. These lines generated 31% of total 2015 premiums in Canada. Across all lines, RGA professionals provided actuarial, claims management, and product development expertise to help client partners capitalize on profitable growth opportunities.

RGA Canada participated in a landmark syndicated reinsurance transaction in 2015, led by Sun Life Assurance Company of Canada, to reinsure only the longevity risks associated with pension obligations held by a leading Canadian pension plan sponsor. The transaction marked the first of its kind in North America, and RGA’s expertise in longevity risk was critical in the creation of this innovative risk management solution.

RGA continued its long-standing support of the Canadian insurance industry in 2015. RGA Canada served as key sponsor of the Canadian Institute of Actuaries 50th anniversary celebration and annual general meeting. In addition, as part of RGA Canada’s annual seminar for the individual pricing, underwriting, claims, and administration clients, the division hosted key group insurance executives for an in-depth review of pharmacare to explore how to position the Canadian industry for the future.