RGA’s Europe, Middle East, and Africa (EMEA) operations maintained consistent execution in core business lines despite pandemic-driven disruption and continued to pursue strategic growth opportunities.

The EMEA segment supports clients from offices in France, Germany, Ireland, Italy, the Netherlands, Poland, South Africa, Spain, the United Arab Emirates, and the United Kingdom. Primary areas of focus include individual and group life, credit life and living benefits, health, distribution, longevity, and capital solutions. In 2020, ceding companies ranked RGA #1 on NMG Consulting’s All Respondent Business Capability Index (BCI) for the EMEA region in aggregate for the eighth consecutive year.

  • EMEA Operations Net Premiums

    (in millions USD)

  • Life Reinsurance in Force
  • Total Revenues
  • Net Premiums
Olav Cuiper

When the COVID-19 crisis began, RGA EMEA responded quickly, knowing the pandemic would accelerate key areas such as digital distribution and capital management. Today, we remain focused on longer-term opportunities and taking concrete actions, with a growth and exploration mindset, to meet the unique needs of clients and consumers.

Olav Cuiper

Executive Vice President, Head of EMEA

EMEA operations enjoyed a successful year in 2020, overcoming COVID-19-related claim costs to generate $285 million in pre-tax income, following a record-high $303 million in 2019. The team continued to refine and implement its strategic framework to drive both current and long-term initiatives and to provide guiding principles for pursuing growth opportunities in the region.

Physical distancing measures moved client engagement online and accelerated RGA and RGAX’s ongoing digital distribution initiatives in EMEA. RGA expanded thought leadership efforts to provide timely COVID-19 updates for clients and the industry via regional and local webinars, online articles, and virtual meetings. With increased demand for digitalized processes, the EMEA team implemented a future-focused e-underwriting strategy, applying new technologies to pursue digital distribution opportunities for clients within alternative channels.

Across the region, RGA worked with clients to develop creative, technology-driven solutions to both address the challenges of the pandemic and help lead the evolution of the industry.

In traditional business lines, net premiums increased 8% over the prior year to reach $1.6 billion, demonstrating the resilience of RGA’s recurring revenue model. A single-premium in-force block transaction in the United Arab Emirates, RGA’s largest transaction ever in the Middle East, highlighted RGA’s continued growth in that region. Notable industry awards recognized RGA’s reputation for innovation: RGA Italy was named “Best Reinsurer” in multiple categories at the Future Bancassurance Forum & Awards, while RGA Spain earned the Premio Azul award for its innovative Plentitud100 product for the senior segment. The South Africa office built on its established market leadership in 2020 as RGA ranked #1 on NMG Consulting’s All Respondent BCI in South Africa for the 11th consecutive year. RGA also ranked #1 on NMG’s All Respondent BCI in Italy and Poland for the third and second year in a row, respectively.

Global Financial Solutions (GFS) increased pre-tax income by 16% to reach $258 million in 2020, and robust new business production in all GFS business lines further established RGA as a regional leader in capital optimization strategies.

An active pension risk transfer market drove longevity business, both through new transactions and ongoing flow structures, and helped diversify RGA’s business portfolio amid high COVID-19-related mortality claims. The U.K. team executed RGA’s largest-ever longevity swap of approximately $6.7 billion with a major retirement fund, and Omnilife, a London-based insurer acquired in 2019 to help consolidate closed blocks of business, executed its first transaction as an RGA company. GFS continued to partner with clients to find innovative ways to support their capital and growth objectives, ending the year with an active transaction pipeline and new opportunities for growth.

    • Ashraf al Azzouni
      Ashraf al Azzouni

      Managing Director, RGA Middle East

    Exemplary client service amid pandemic-driven pressures

    “While navigating the dynamic business climate, RGA remained an integral and trusted partner to clients in the Middle East”


    • Adriano de Matteis
      Adriano de Matteis

      Managing Director, Italy and Chief Marketing Officer, EMEA

    Staying true to core values in difficult times

    “The COVID-19 crisis proved that integrity, collaboration, and relationship focus at RGA are fundamental to the work we do every day.”

  • Learn more about RGA’s EMEA operations at rgare.com


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