RGA Europe, Middle East, and Africa (EMEA) supports clients from offices in the United Kingdom, France, Germany, Ireland, Italy, the Netherlands, Poland, South Africa, Spain, and the United Arab Emirates. Primary areas of focus include longevity, asset-intensive, capital solutions, individual and group life, health and medical reimbursement, and credit life and living benefits.
Our strong performance in 2024 demonstrates our ability to deliver innovative solutions and drive growth across diverse markets through a unique combination of local expertise and global capabilities. These achievements reflect our team’s dedication to excellence and strong industry partnerships, underscoring our pivotal role in shaping the future of reinsurance in EMEA.
RGA EMEA achieved success across multiple business lines, generating $375 million in adjusted operating income before taxes.* RGA serves clients in EMEA by combining a strong local presence with global resources, biometric risk expertise, and sophisticated investment capabilities. In 2024, that powerful combination resulted in innovative solutions, milestone reinsurance transactions, and the launch of a cutting-edge health administration platform.
RGA’s UK operations continue to serve as a strong engine of regional growth. The Financial Solutions team closed several large pension risk transfer (PRT) transactions and expanded its offerings for defined benefit pension plans. RGA remained the market leader in underwritten annuity products – retirement products designed for individuals with health conditions or other lifestyle limitations.
RGA expanded its presence in the Continental Europe asset-intensive reinsurance market with a $937 million transaction with a subsidiary of one of the leading insurers in Belgium. These types of tailored, innovative solutions ensured effective risk transfer and capital management opportunities for clients. Across Continental Europe, RGA also continued to write mass-lapse shock-absorbing treaties and renewed existing treaties with key clients.
RGA successfully developed reinsurance-based capital optimization solutions in the South African market. Backed by a strong track record of execution and a deep understanding of clients’ needs, RGA substantially expanded an existing optimization treaty and secured a new treaty with another large South African insurer for completion in early 2025. In addition, RGA supported clients seeking liquidity through reinsurance financing structures, including a material tranche of in-force financing with an existing client. Innovative underwriting and novel use of data supported the development and launch of several new insurance products, advancing RGA’s purpose to increase access to financial protection for all. For the 15th consecutive year in 2024, RGA was rated #1 by insurers in South Africa on NMG Consulting’s All Respondents Business Capability Index.
In the Middle East in 2024, RGA launched Aspire, a licensed third-party health administrator offering transformative digital health insurance portfolio management for insurance companies in the region. The state-of-the-art Aspire platform facilitates real-time data exchange and communication between insurers and key stakeholders, enhancing efficiency in claims processes and providing added value to insured members. Supported by Aspire, RGA secured a multi-year contract to reinsure health policies in a Gulf Cooperation Council member state. RGA was selected as Life Reinsurer of the Year at the Middle East Insurance Industry Awards 2024 and was rated #1 on NMG Consulting’s 2024 All Respondents Business Capability Index – receiving both recognitions for the third consecutive year.
