RGA Strikes $32B Reinsurance Deal With Equitable, Expects $1.5B Deployment in Equitable Deal, Sees Boost to Operating EPS
Benzinga Newsdesk 1 year ago
News
Reinsurance Group of America, Incorporated (NYSE:RGA), a leading global life and health reinsurer, today announced it has entered into an agreement with Equitable Holdings, Inc. (NYSE:EQH, "Equitable"))) to reinsure a
Reinsurance Group of America, Incorporated (NYSE:RGA), a leading global life and health reinsurer, today announced it has entered into an agreement with Equitable Holdings, Inc. (NYSE:EQH, "Equitable"))) to reinsure a diversified block of life insurance products and expand their strategic partnership.
- RGA to reinsure $32 billion of a diversified mix of life insurance products
- RGA expects to deploy $1.5 billion of capital at closing into this reinsurance transaction
- Priced with attractive returns within RGA's target range
- Expected to meaningfully contribute to adjusted operating EPS
- Broadens RGA's relationship with Equitable across underwriting, product development, distribution, and investment management