U.S. and Latin America Operations Net Premiums

(in millions USD)


U.S. and Latin America Operations ended 2016 with $1.6 trillion of life reinsurance in force.

Total revenues increased 11% over 2015 to establish a record high of $6.8 billion.

In 2016, RGA ranked #1 on NMG Consulting’s All Respondent Business Capability Index in the U.S. Individual Mortality, U.S. Group Life and Disability, and Mexico Life and Health markets.

From left, from U.S. Mortality Markets: Lisa Renetzky, Senior Vice President and Chief Actuary; Jaime Correa, Senior Vice President, USMM Underwriting.

U.S. and Latin America Operations is RGA’s largest operating division, accounting for 57% of the company’s net premiums in 2016. Principal products include individual and group mortality risk, group disability, health and long-term care reinsurance, asset-intensive risk coverage, and financial reinsurance. The division reported $126 billion in assumed new business in 2016 and pre-tax income of $655 million.

For the tenth consecutive year, U.S. individual mortality underwriters reviewed over 100,000 facultative reinsurance case submissions, which resulted in approximately $15 billion of new life insurance placed. RGA also earned a #1 ranking as the premier facultative underwriter on NMG Consulting’s 2016 Individual Life Mortality study of U.S. ceding companies.

The same NMG study recognized RGA as the leading reinsurer for innovation. Among other innovative solutions in 2016, RGA launched Dynamic Risk Selector, a tool that aggregates life insurance application information and underwriting evidence and evaluates that data set using RGA’s proprietary underwriting rules and predictive model. Dynamic Risk Selector can accelerate the underwriting process to allow insurers to accept fully underwritten cases without fluid testing, dramatically reducing the time to issue a policy.

A diversified product base helped U.S. Group Reinsurance grow net premiums by 11.5% over 2015. RGA worked closely with clients to navigate an insurance environment facing increased uncertainty. Solutions included worksite products to help group carriers meet demand, establish a competitive advantage, and increase profitability. Voluntary offerings to fill coverage gaps and better manage costs included RGA’s first hospital indemnity product in the U.S.

RGA helped insurers improve capital efficiency and meet regulatory requirements through structured financial solutions, including capital-motivated, asset-intensive, and longevity reinsurance. Innovative transactions, such as a first-of-its-kind AG 481-compliant captive reinsurance agreement, proved strong contributors to the division’s performance within its diversified risk portfolio.

Geographic and product line diversification continued in Latin America. RGA obtained approval from the Brazilian regulatory authority to open a branch office in Brazil in February 2016. In Mexico, an operations base from which the company serves additional markets, RGA worked with clients to meet the requirements of the new Solvency II-based regulatory regime. As risk-based capital models permeated the market, RGA applied its established expertise in this arena on behalf of clients and developed innovative reinsurance solutions.

(1) Actuarial Guideline 48 (AG 48), adopted by the National Association of Insurance Commissioners (NAIC), defines rules to be followed for life reserve financing transactions completed after January 1, 2015.


Mike Emerson

Executive Vice President, Head of U.S., Latin and South American Markets


We combine experience and innovation to achieve execution certainty for our clients. In an era of industry experimentation, RGA seeks to affect change in a responsible manner. Our teams align capabilities with client needs to partner at multiple levels and create solutions that work. For example, in 2016 RGA used its advanced mortality experience to develop new underwriting guidelines for persons living with human immunodeficiency virus (HIV). We are now able to offer facultative reinsurance support to our clients’ HIV-positive life insurance applicants who meet specific criteria. This is one of many instances of RGA identifying a need and leveraging knowledge and expertise to help clients better serve customers.


Once again in 2016, RGA experts shared a wealth of knowledge via newsletters, webcasts, white papers, articles, presentations, trainings, and RGA-hosted events. When the Zika virus threatened the Western Hemisphere, RGA published its widely shared research bulletin “Zika Virus: The Insurance Perspective.” With InsurTech promising to transform the industry, RGA made it the focus of the company’s popular Innovation Series at the 2016 Society of Actuaries Annual Meeting. And as prescription drug prices made headlines, RGA released a report identifying 183 high-cost specialty drugs with an accompanying management tool for clients. Sharing insights is central to RGA’s operating philosophy; it allows us to move our clients – and the industry – forward.


Our people. Talented professionals at all levels share a passion for this business and a commitment to exceed expectations. At RGA, every action and interaction is guided by one question: What do we need to do to ensure the best possible outcome for our clients? From there, expert teams of underwriters, actuaries, claims analysts, and other professionals work collaboratively across all of RGA to deliver products and services that produce results. It is our collective knowledge, skill, and client focus that make RGA such a valuable partner.