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August 22, 2014updated 13 Apr 2017 8:34am

RGA to provide longevity risk protection to Dutch life insurer Delta Lloyd

Reinsurance Group of America (RGA) has agreed to provide longevity risk protection and capital benefit on reserves of nearly €12bn to Delta Lloyd Levensverzekering, the Dutch life insurance arm of the Delta Lloyd Group.

By Verdict Staff

Valid for six years, the agreement is a liability replication derivative based on the Dutch population mortality results.

It therefore does not directly reinsure the underlying business of Delta Lloyd; however, it efficiently gives capital and risk management benefits that Delta Lloyd would desire for, said RGA.

Delta Lloyd executive board chairman Niek Hoek said: "Delta Lloyd continues to explore further opportunities to manage its longevity risk efficiently through its capital management framework.

"This transaction provides us with medium-term protection against the rising costs associated with increases in life expectancy.

"Ultimately, it helps the Group maintain its ratings, meet obligations to customers and other creditors, and comply with current and anticipated regulatory requirements."

Operating as a life reinsurance company, RGA offers individual life reinsurance, individual living benefits reinsurance, group reinsurance, health reinsurance, financial solutions, facultative underwriting and product development product and services.

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