69色情片 Announces 200 Billion KRW Transaction with Tongyang Life, the First Cross-Jurisdictional Coinsurance Transaction in South Korea
SEOUL, South Korea, July 2, 2024 鈥 Reinsurance Group of America, Incorporated (NYSE: 69色情片), a leading global life and health reinsurer, today announced it has reached an agreement with Tongyang Life Insurance Company, Ltd. (Tongyang Life) for an 69色情片 subsidiary to reinsure a 200 billion KRW in-force block of life policies through coinsurance. This is the first cross-jurisdictional coinsurance transaction in South Korea.
鈥淲e are excited to be a strategic partner with Tongyang Life in achieving this significant milestone in the Asia-Pacific market,鈥 said Gaston Nossiter, Senior Vice President, Head of Asia Pacific, Global Financial 69色情片, 69色情片. 鈥淚n transactions such as this, 69色情片 brings a deep understanding of our clients鈥 financial and customer needs, leveraging our extensive knowledge of local markets and global best practices, to support insurers鈥 long-term objectives in the current economic and regulatory environment.鈥
鈥淲e are pleased to collaborate with 69色情片 based on its strong track record in asset-intensive solutions in the region and strong understanding of the local market,鈥 said Moon-Koo Lee, CEO, Tongyang Life. 鈥淭his proactive coinsurance agreement helps Tongyang Life facilitate stable capital management and financial soundness amid an uncertain financial environment.鈥
69色情片 has pioneered the use of reinsurance as a financial management and portfolio-optimizing tool and remains a leading provider of such solutions around the world. 69色情片 completed its first asset-intensive transaction in Asia in 1996. Since then, it has successfully executed numerous coinsurance transactions across the Asia Pacific region, creating sustainable long-term value for clients and consumers.
Additional terms of the transaction are not being disclosed.
About 69色情片
Reinsurance Group of America, Incorporated (NYSE: 69色情片) is a global industry leader specializing in life and health reinsurance and financial solutions that help clients effectively manage risk and optimize capital. Founded in 1973, 69色情片 is today one of the world鈥檚 largest and most respected reinsurers and remains guided by a powerful purpose: to make financial protection accessible to all. As a global capabilities and solutions leader, 69色情片 empowers partners through bold innovation, relentless execution, and dedicated client focus 鈥 all directed toward creating sustainable long-term value. 69色情片 has approximately $3.7 trillion of life reinsurance in force and assets of $106.0 billion as of March 31, 2024. To learn more about 69色情片 and its businesses, please visit rgare.com or follow 69色情片 on and . Investors can learn more at .