Reinsurance Group of America (RGA) has appointed Axel André as its new executive vice president (EVP), with plans to elevate him to chief financial officer (CFO) after a transition period. 

André will assume his new role as EVP on 24 June 2024. He is set to take on the responsibility of CFO on 5 August 2024, replacing Todd Larson.

Larson will become special adviser to the CEO until his retirement on 31 December 2024.

André joins RGA from American Equity Investment Life Insurance Company, where he has been working as the executive vice president and CFO since 2021.

His background in the sector also includes a tenure as EVP and CFO at Jackson National Life Insurance, and seven years at American International Group, culminating in the role of CFO for its individual retirement business. 

RGA CEO Tony Cheng said: “We are thrilled to welcome Axel to RGA. His strong track record, coupled with his experience in the life insurance industry, reinforces our confidence in his ability to guide our strategic initiatives.

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“Axel’s leadership qualities and deep insurance knowledge are aligned with our commitment to excellence and growth, and we are confident that his contributions will be instrumental as we continue to evolve and achieve new successes.”

Recently, RGA signed a reinsurance agreement with Tokio Marine & Nichido Life Insurance to reinsure a Y100bn ($637.74m) paid-up block of whole life policies through coinsurance.

In another strategic development earlier this year, RGA appointed Sunil Sharma as its country CEO for RGA India, bringing over three decades of global insurance and reinsurance market experience to the company’s operations in the region.

Meanwhile, December 2023 marked the launch of Ruby Reinsurance Company (Ruby Re), a third-party life reinsurer established by RGA.

With equity capital commitments from Golub Capital, Sammons Financial Group, and Hudson Structured Capital Management, Ruby Re will focus on US asset-intensive business, operating from Missouri.