Message from the CEO
Throughout 2020, RGA’s operational and financial resilience was put to the test, and I am incredibly proud of how our employees and our business responded and have continued to deliver on the commitments and promises to our clients, our investors, and the communities in which we live and work.
President and Chief Executive Officer
COVID-19 has brought disruption, strain, and grief for millions of people around the world who have lost friends, family members, or loved ones, or who struggled through increasing economic hardships. This past year has reaffirmed RGA’s vital role in an industry that helps to safeguard families’ financial futures during times of uncertainty and loss. Throughout 2020, RGA’s operational and financial resilience was put to the test, and I am incredibly proud of how our employees and our business responded and have continued to deliver on the commitments and promises to our clients, our investors, and the communities in which we live and work.
A company’s culture is not built during crisis; rather, crisis reveals and amplifies the culture already in place. RGA’s culture of client focus, collaboration, innovation, integrity, and technical expertise was evident in how the organization responded to the crisis and the logistical and personal challenges of remote work.
Our strength as a company starts with our employees and, first and foremost, we made their safety and well-being our top priority to ensure that everyone had access to the services, resources, and support that they needed. At RGA, our people support and look out for one another, and throughout the year it was encouraging to witness many examples of this and to see our culture strengthen and endure.
For our clients and the industry, RGA served as a trusted partner and a leading source of valuable insights. With insurers adapting to the many implications of the pandemic, RGA teams hosted virtual conferences and delivered hundreds of webcasts, research papers, and articles to help guide their actions. Our mortality and morbidity experts provided proactive and knowledgeable COVID-19 underwriting guidance, actuarial modeling, and claims adjudication support. Above all, RGA remained focused on our clients and partners as we navigated a rapidly changing industry landscape together.
A history of steady growth
(27-year CAGR since IPO, 1993-2020)
Book Value Per Share
(as of December 31, 2020)
RGA’s commitment to society was most directly evidenced by the social purpose embedded in our core business as we provided financial security to families in need worldwide, including an estimated $720 million in COVID-19-related claim costs. Our commitment extended to matching employee donations and providing grants from the RGA Foundation to support frontline healthcare workers and COVID-19 charitable efforts. In addition, as the world reacted to racial unrest in the U.S., RGA strengthened our ongoing commitment to diversity and inclusion and matched employee contributions to organizations dedicated to equity and social justice. Meanwhile, RGA employees around the globe came together to support their local communities through inspiring displays of generosity and virtual volunteerism.
Reinsurance is a long-term business, and 2020 has demonstrated the ongoing strength of our well-diversified global enterprise, the success of our client-focused strategy, and the resilience of the RGA franchise that is designed to withstand short-term disruptions – even a global pandemic.
Above all, the past year further revealed the character and commitment of our people, and I have never been prouder to be part of this extraordinary organization.
President and Chief Executive Officer