RGA’s GFS team enjoyed an outstanding year in 2019, generating a record-high $659 million in pre-tax income. Strong results across all product lines and regions contributed to balanced, diversified growth.
Most importantly, we helped our clients achieve their business goals, whether freeing up capital for an acquisition, divesting a block of business, financing redundant reserves or capital, or supporting a growing line of business. Reinsurance is a very long-term business, and we understand that our success depends on fostering strong, long-lasting partnerships. Our success in 2019 was the latest manifestation of a relentless client focus that has fueled our business since the very beginning.
In a growing field of competitors, which now includes traditional reinsurers, private equity-backed firms, and asset accumulators, RGA proudly stands apart from the pack. Some companies focus on acquiring assets, but lack expertise in reinsurance liabilities; others understand mortality and longevity, but lack the appetite to take on market risk. RGA delivers on both, developing creative, holistic solutions for biometric and investment risk as clients’ needs dictate.
Our strong counterparty, seasoned expertise, and innovative culture, combined with RGA’s global reach and product breadth and depth, provide distinct advantages for our clients. Above all, we deliver results. For insurers facing a fast-changing environment, the value of RGA’s execution certainty – doing what we say we are going to do, on time, the right way, each and every time – cannot be overstated. Repeat business from delighted clients is how we know we’re succeeding.
Looking ahead, we anticipate a growing need for reinsurance support worldwide.
We expect continued opportunities to deploy capital into attractive blocks of business and flow transactions to remain a source of high-quality, stable earnings for RGA. As always, discipline will be key as we seek to work with the right partners, on the right transactions, for the right reasons. In short, RGA is prepared to build on our vital role as a financial solutions leader for the industry.