Asia Pacific (APAC) operations serve clients throughout the region from offices in Australia, China, Hong Kong, India, Japan, Malaysia, New Zealand, Singapore, South Korea, and Taiwan. Primary reinsurance products include individual and group life, living benefits, health, high net worth, Retakaful, superannuation, annuity, and financial solutions.
Across Asia Pacific, our disciplined growth in 2025 was powered by deep client partnerships, market‑relevant innovation, and execution at scale. With a relentless focus on the needs of our diverse markets in Asia, RGA is poised to set the pace for the industry’s next decade.
Asia Pacific delivered another record year in 2025, with ambitious goals met and exceeded. The region generated adjusted operating income before taxes of $759 million,* reflecting momentum across protection and financial solutions. A stable regulatory backdrop supported consistent performance, while RGA’s continued integration of its enterprise strategy enhanced capital efficiency and client outcomes.
RGA celebrated the 30th anniversary of operations in APAC and expanded office footprints in Australia, Kuala Lumpur, Shanghai, and Mumbai. The business reinforced its position as an innovative leader in Asia’s reinsurance industry with the following honors:
Significant financial solutions activity fueled positive results in APAC. In Japan, transactions with Daiichi and Anshin Life underscored deep client relationships with repeat wins:
RGA Japan led the financial solutions market across both flow and block business. In Hong Kong, a landmark asset‑intensive transaction closed in December 2025 for a global client’s legacy participating block. RGA’s solution met the client’s strategic objectives for improving capital efficiency and the sustainability of policyholder returns.
Across Asia Pacific, market leadership in 2025 was underpinned by a consistent focus on client‑centric solutions and disciplined execution to capture market opportunities.
In response to rapidly aging demographics across the APAC region, RGA developed advanced protection products through proprietary simplified underwriting, enhanced product design and pricing, and expanded reach to underserved populations. In China, RGA launched a market-first critical illness (CI) disability product integrating targeted senior disease protection with disability coverage. In Taiwan, RGA continued to evolve its protection business and supported key insurers as they engaged with distribution partners to market innovative products for seniors.
To assist Chinese insurers facing a low‑interest‑rate environment, RGA introduced a market-first CI product with dividend‑generating features, delivering comprehensive health coverage alongside potentially long‑term value accumulation.
The Insurance Regulatory and Development Authority of India’s ambitious vision to provide “Insurance for All by 2047” spurred innovations across the insurance value chain. RGA solidified its leadership position in the term market, especially in the Term with Unit Linked Investment Plan (TULIP) segment, reflecting continued innovation at the intersection of protection and wealth creation.
Momentum also accelerated across Southeast Asia. RGA deployed biometric expertise and proven operational capabilities through an exclusive partnership with a market- leading life insurer established by one of the largest banks in Vietnam. The relationship is poised to capture new businesses in one of the fast-growing markets in Asia.
Southeast Asia is entering a new phase of growth, where innovation, partnership, and disciplined execution are expanding access to protection and turning market momentum into enduring opportunity.
As high‑net‑worth needs become more complex, RGA is helping insurers in Hong Kong and Singapore deliver sophisticated protection and capital solutions – combining underwriting expertise, product innovation, and multi‑market execution to support the growth of regional HNW platforms.
China’s health insurance market is entering a pivotal shift toward sustainable, quality‑driven growth, and RGA helps insurers unlock that opportunity — especially in senior protection — through disciplined risk management that enables innovation with confidence.
RGA continued to demonstrate its ability to operate as a strategic partner across product development, underwriting, and capital management. In Hong Kong, deep relationships with leading insurers positioned RGA as a strategic connector, delivering multi‑line, multi‑year solutions. Highlights include:
Australia and New Zealand teams navigated evolving market conditions with resilience, maintaining focus on sustainability and disciplined growth. A collaborative product and pricing review with a client optimized new business premium rates, driving approximately 25% sales growth while preserving pricing margins.
Claims and analytics capabilities continued to advance. A behavioral‑science‑informed claims initiative was recognized as a finalist for the ALUCA Partnership Impact Award. This initiative was complemented by an RGA-developed quality assurance dashboard that translates complex qualitative claims data into actionable insights to strengthen claims management and improve fraud detection.
As the lead sponsor of the Pacific Insurance Conference (PIC) 2025 held in Seoul, RGA was the key driving force in curating the agenda for C-suite industry leaders across 19 markets, nine regulatory representatives, and 10 life insurance associations. This unique forum, attended by more than 500 delegates across the region, included keynote sessions, leadership panels, and an exclusive CEO roundtable. Throughout PIC 2025, RGA reinforced its position as a leading industry thought leader on strategic priorities including capital management, life and health innovation, technology advancement, and international growth.
