Most recently, Babej served as Chairman and Interim Head of Banking at Citigroup before retiring in 2024.

Before this, he was the Chief Executive Officer (CEO) of Citi Asia Pacific, leading operations across multiple markets and overseeing a workforce of approximately 70,000 employees.

During his tenure at Citi, Babej helped the organisation through complex strategic initiatives, including the expansion of institutional and wealth management capabilities across the region.

In the past, he has also served as the Global Head of Financial Institutions at Citi, and has held senior roles at Deutsche Bank and Lazard.

Babej has deep expertise in advising on mergers, acquisitions, and capital markets transactions, with a particular focus on clients across financial services, insurance, and reinsurance.

Tony Cheng, President and CEO, RGA, commented, “Peter brings deep global financial services expertise and a proven record of leadership across complex institutions and markets.

“His experience advising and leading financial institutions through periods of transformation, combined with his extensive knowledge of insurance, capital markets, and Asia-Pacific operations, will be a great resource as RGA advances its long-term strategy and pursues opportunities worldwide.”

Stephen O’Hearn, Chair of the Board of Directors, RGA, added, “With more than three decades of experience at the intersection of banking, insurance, and financial advisory, Peter offers a global perspective that will further strengthen our Board.

“He has successfully led organizations through significant strategic initiatives; we are delighted to welcome him to RGA and look forward to benefiting from his insights and counsel.”

The post Peter Babej joins Reinsurance Group of America’s Board of Directors appeared first on ReinsuranceNe.ws.

Blake brings more than 20 years of actuarial experience across multiple practice areas, including reinsurance, product development, individual life and annuities, Bermuda EBS, US GAAP/STAT accounting, capital management, pricing, group life, and group disability.

He joins RGA from Somerset Reinsurance, where he served as Chief Actuary, primarily responsible for managing Somerset’s IFRS 17 reporting and EBS capital position.

Prior to that, Blake was Reinsurance Actuarial Pricing Director at Athene, where he oversaw the development and pricing of new products for flow reinsurance treaties. He also led pricing for UK pension block deals, including liability analysis, portfolio development, and legal entity structuring.

Earlier in his career, he held senior actuarial positions at CNO Financial Group and OneAmerica.

In a recent LinkedIn post, Blake said, “Very excited to be joining a world class organization like RGA and look forward to helping them take the Bermuda organisation to new heights. A strong commitment to Bermuda is great for RGA and great for the island as well! I’m thrilled to be a part of it!”

The post RGA names Logan Blake as President of Bermuda Operations appeared first on ReinsuranceNe.ws.

Bronchetti will succeed Leslie Barbi, who is retiring in 2026 after leading RGA’s investment function since 2020.

In his new role, Bronchetti will provide global leadership to RGA’s investment organisation and oversee its investment management strategy. He will report to Tony Cheng, President and Chief Executive Officer of RGA.

He is a strategic investment and risk management executive with extensive experience in investment management, business development, change management, team leadership, and board oversight.

Most recently, Bronchetti served as Executive Vice President, Chief Investment Officer, and Head of Hedging & Sustainability at Lincoln Financial. In this role, he led Lincoln Financial Investments and Lincoln Investment Management Company, overseeing over $300 billion in assets across both the general account and separate account mutual fund complex.

He also chaired the board of directors of the Lincoln Variable Insurance Products Trust and is currently a member of the Board of CITRS and Teach For America Greater Philadelphia.

Prior to Lincoln Financial, Bronchetti served as Executive Director of Debt Capital Markets for J.P. Morgan and held positions in private equity, fixed income asset management, trading, and investment banking with Macquarie Investments and Bank of America.

Cheng commented, “Jayson’s leadership and ability to pair strategic vision and industry knowledge with rigorous investment execution make him an exceptional addition to RGA’s executive team.

“I am excited to welcome him to RGA, knowing his expertise in investment management, risk oversight, and forward-thinking strategies will help us build on our strengths and continue creating lasting value for stakeholders.”

The post RGA appoints Jayson Bronchetti as EVP, Investments appeared first on ReinsuranceNe.ws.

Adjusted operating income was also up for the full year 2025, reaching $1.518 billion, compared with $1.342 billion in 2024.

Meanwhile, RGA’s net premiums in 2025 totalled $17.2 billion, a decrease of 3.4% from 2024, with a favourable net foreign currency effect of $56 million.

According to the firm, net premiums for the full year included a contribution of approximately $300 million from single premium pension risk transfer transactions, compared with approximately $2.9 billion in the prior year.

RGA’s largest segment, U.S. and Latin America, reported net premiums of $7.927 billion in 2025, up from $7.5 billion in 2024.

Other significant contributions came from Asia Pacific, which generated $3.335 billion in net premiums, followed by Europe, the Middle East and Africa (EMEA) at $2.258 billion, and Canada at $1.331 billion.

Excluding spread-based businesses, investment income increased 22.8% for the full year 2025 compared to 2024. RGA said this was due to a larger average invested asset base and higher earned yields.

Average investment yield was 4.99% for the full year, compared with 4.82% in 2024. The increases reportedly reflect higher new money rates relative to the existing portfolio yields and higher variable investment income.

For Q4 2025 alone, net income available to RGA shareholders was $463 million, up from $148 million in Q4 2024.

Consolidated net premiums in Q4 2025 were $4.8 billion, an increase of 15% over the same period of 2024, with a favourable net foreign currency effect of $42 million.

Tony Cheng, President and Chief Executive Officer, commented, “A very strong fourth quarter capped off another year of excellent financial results. This was another quarter with positive contributions from most of our business segments, demonstrating the strength and diversity of our global platform and local teams.

“I am gratified that the collective efforts of the global RGA team have produced results that we all can be proud of. Taking a step back, it is important to view our results in the context of a longer-term journey and relative to our intermediate-term financial targets.

“Since the beginning of our most recent strategy cycle in 2023, our financial metrics are tracking at or ahead of our targets, giving us further confidence that we will meet or exceed the established goals.

“Looking forward, there are plenty of reasons for optimism, and I believe that we are well-positioned for continued success. Our balance sheet is strong, business conditions are favourable, and we have a proven strategy that I expect to result in attractive financial results over time.”

The post RGA signals confidence as 2025 net income reaches $1.18bn appeared first on ReinsuranceNe.ws.

Reporting to Executive Vice President and Chief Financial Officer Axel André, Krueger will take on a leadership role in RGA’s investor relations.

He will collaborate closely with the executive leadership team to effectively communicate RGA’s strategic evolution and performance to the investor community.

Krueger is joining RGA following a decade at investment bank Keefe, Bruyette & Woods (KBW), where he was Managing Director, Equity Research of the U.S. life insurance sector.

André commented: “Ryan is a seasoned and well-respected financial analyst with a strong reputation among investors, analysts, and industry stakeholders.

“His impressive track record of engaging with the investor community gives us confidence that he will drive deeper understanding and clarity of RGA’s strategy and performance. I look forward to working with Ryan as we continue to strengthen our relationships with investors and advance our strategic objectives.”

Krueger also has a career as a sell-side equity research analyst, focusing on life insurers, which began in 2006. Before his time at KBW, he was a Partner at Dowling & Partners Securities.

The post RGA welcomes Ryan Krueger as Senior VP, Investor Relations appeared first on ReinsuranceNe.ws.

Barbi is a member of RGA’s Executive Committee and joined the life reinsurance company in 2020.

As the CIO, Barbi led a global investment team of approximately 250 professionals across North America, Europe, the Middle East and Asia (EMEA), and Asia.

She is responsible for the strategic leadership of RGA’s global asset platform, portfolio, and investment policy.

Barbi has three decades of experience in investment management, of which she spent two in leadership roles in the insurance industry. She has also been extensively involved across the enterprise and serves on various corporate or steering committees, including risk, business, balance sheet, technology, and rewards.

Additionally, Barbi’s board engagement includes the RGA Board of Directors and the Board Investment Committees of RGA entities around the world.

Barbi is the key liaison to the Chair of the RGA’s Board Investment Committee. She has also been serving as a member of the board of directors of two of RGA’s significant operating subsidiaries – RGA Reinsurance Company and RGA Life and Annuity Insurance Company.

The post RGA’s Chief Investment Officer Leslie Barbi to retire in 2026 appeared first on ReinsuranceNe.ws.

Adjusted operating income for the quarter totalled $310 million, an increase from $242 million in Q3’24.

RGA noted that net foreign currency fluctuations had an adverse effect of $0.01 per diluted share on net income available to RGA shareholders, and a favourable effect of $0.04 per diluted share on adjusted operating income, both compared with the prior year.

The reinsurer’s consolidated net premiums amounted to $4.3 billion, down 2.5% from $4.4 billion, with a favourable net foreign currency effect of $29 million. Net premiums in the prior-year quarter included approximately $600 million from a single premium pension transfer transaction in the U.S. Financial Solutions business.

By segment, U.S. and Latin America posted net premiums of $1.9 billion, Canada recorded $326 million, Europe, Middle East and Africa (EMEA) was $562 million, and Asia Pacific was $880 million.

Investment income increased 12.4%, primarily due to a larger average invested asset base. Average investment yield was 4.73%, down from 5.08% in the prior year, reflecting lower variable investment income.

Tony Cheng, President and CEO of RGA, said, “The record third quarter operating results were strong, and above expectations. A number of our businesses performed very well, particularly Asia Traditional and EMEA and U.S. Financial Solutions. Also, as a reminder, the Equitable transaction closed in the quarter, and our results reflected the expected earnings contribution from that block. We continued to have very good momentum overall and benefited from the earnings diversity that comes from our global platform. New business in the quarter remained strong, and our success with exclusive client arrangements is a good indicator of our competitive strength and unique position in the market.

“We deployed $1.7 billion into in-force transactions, including $1.5 billion for the Equitable transaction. Our pipeline continues to be attractive and heavily weighted toward exclusive opportunities, and our balance sheet is strong, with estimated excess capital of $2.3 billion at the end of the quarter. With estimated deployable capital of $3.4 billion, we are well-positioned to fund our growth and return capital to shareholders, noting that we repurchased $75 million of common shares in the quarter.

“Looking forward, we remain excited about our business prospects. RGA is well-positioned in its markets, with a proven strategy. We point to a long track record of successful execution, which has produced strong financial results, and we expect to continue to deliver attractive financial results in the future.”

The post RGA’s Q3’25 net income rises 62% as net premiums dip appeared first on ReinsuranceNe.ws.

Based in New York and founded in 2023, FoxPath is a specialist credit secondaries investment firm tailored to meet the rapidly growing need for private market liquidity solutions.

RGA’s investment broadens its access to high-quality private assets in the credit secondary market, increasing portfolio flexibility and expanding investment opportunities.

Leslie Barbi, Executive Vice President and Chief Investment Officer, RGA, said, “Our investment in FoxPath reflects RGA’s ongoing dedication to innovative partnerships that strengthen our investment portfolio and create long-term value for our stakeholders.

“By collaborating with FoxPath, we deepen our access to differentiated underwriting expertise in the private credit market, aligning with our strategy to partner with organizations that complement and expand our global investment reach.”

Tony Colarusso, Managing Partner, FoxPath. Chief Investment Officer, FoxPath, Brian Laureano, added, “We are honored to partner with RGA, a global leader in reinsurance, whose confidence in our vision affirms the value we bring to the investment landscape.

“This collaboration with RGA not only accelerates our growth trajectory but also enhances our capacity to deliver innovative capital solutions to the private credit markets.”

Goodwin Procter LLP served as legal advisor to RGA. Piper Sandler & Co. served as financial advisor, and Akin Gump served as legal advisor to FoxPath.

The post RGA makes strategic investment in FoxPath Capital Partners appeared first on ReinsuranceNe.ws.

In AM Best’s Top Global Reinsurance Groups rankings, RGA rose from fourth place in 2023 to third in 2024 by gross premiums written, reaching $15.6 billion compared with $14.3 billion the year prior.

While RGA’s premiums increased year over year, Swiss Re’s shift from non-IFRS 17 to IFRS 17 reporting was a key factor in its move up the rankings. As a result, Swiss Re now holds the top spot in overall reinsurance revenue, surpassing Munich Re at year-end 2024.

It is important to note that Berkshire Hathaway Inc., which holds the top position for companies reporting under non-IFRS 17, and Lloyd’s, which ranks second, as well as the big for European reinsurers, all write life and non-life reinsurance. Whereas, among pure life reinsurers, RGA remains in the leading spot.

Canada Life Re, predominantly a life reinsurer but also offering P&C solutions, reported $3.4 billion in revenue in 2024, placing it eighth among IFRS 17 reporters. In 2023, the firm’s revenue hit $3.6 billion, putting it in seventh place for IFRS 17 reporters.

Meanwhile, pure life reinsurer Pacific LifeCorp held steady in 14th place among non-IFRS 17 reporters, with total premiums of $2.8 billion in 2024, down from $3.2 billion in 2023.

Our Top Global Reinsurance Groups directory is based on AM Best research and ranks companies according to full-year 2024 performance.

The post AM Best data highlights strong life reinsurer performance in 2024 appeared first on ReinsuranceNe.ws.

RGA adjusted operating income and adjusted operating income, excluding notable items, for the second quarter totalled $315 million, compared with $365 million the year before.

At $4.2 billion, net premiums saw a 5.9% increase in Q2 2025 from the $3.9 billion reported in the same period last year, with a favourable net foreign currency effect of $45 million.

According to the reinsurer, net premiums for the prior-year quarter included a contribution of approximately $280 million from a single premium pension transfer transaction in the U.S. Financial Solutions business.

Net foreign currency fluctuations had a favourable effect of $0.08 per diluted share on net income available to RGA shareholders, and $0.12 per diluted share on adjusted operating income, both as compared with the prior year.

Tony Cheng, President and Chief Executive Officer, attributed the lower-than-expected operating result to “claims volatility in our U.S. Individual Life business.”

He elaborated that the U.S. Individual Life segment experienced a high level of large claims, which offset the favourable performance seen in the first quarter.

Cheng added: “However, we continue to execute successfully on our strategy, maintaining very good momentum overall and benefiting from the earnings diversity that comes from our global platform. New business in the quarter remained strong, and our Creation Re strategy continues to perform above expectations.

“Additionally, we continue to benefit from our balance sheet optimization efforts, as our estimated excess capital increased from $1.9 billion to $3.8 billion in the quarter, reflecting additional capital credit received on the value of a portion of our in force business.

“When factoring in the transaction with subsidiaries of Equitable Holdings, Inc., which closed earlier today, our pro forma excess capital is estimated to be $2.3 billion. Considering this, and our estimated deployable capital of $3.4 billion, we are well positioned to continue to fund our growth and return capital to shareholders through dividends and share repurchases.”

The company’s Asia-Pacific (APAC) and Europe, Middle East and Africa (EMEA) segments, along with its U.S. Financial Solutions business, delivered strong results.

The CEO added: “U.S. Individual Life experience reflected a high level of large claims, offsetting the favourable experience in the first quarter. U.S. Group business saw higher than expected claims in the healthcare excess line, consistent with industry trends.

“We deployed $276 million into in force transactions, with good diversification across products and geographies. Our pipeline remains attractive. As mentioned earlier, the Equitable transaction has closed, and we are excited about the long-term value that this transaction is expected to provide RGA.”

Cheng concluded: “Looking forward, we remain optimistic about our business prospects. RGA is well positioned in its markets, with a proven strategy. We point to a long track record of successful execution, which has produced strong financial results, and we expect to continue to deliver attractive financial results in the future.”

The post RGA sees Q2’25 net income decline despite net premium increase appeared first on ReinsuranceNe.ws.