Reinsurance Group Of America Announces New Organizational Structure

(RTTNews) - Life reinsurance company Reinsurance Group of America inc. (RGA) said Thursday that it will align the company's businesses and functions into four global organizations. The new organizational structure will take effect January 1, 2015.

Each of the newly announced organizations will be responsible for a particular operating function and will report directly to RGA's President and Chief Executive Officer, Greig Woodring. However, RGA noted that the current financial reporting and geographic segments will not change.

Woodring said, "Our organization continues to grow in size and reach. As the business and regulatory environments in this industry evolve, so do our clients' needs. I expect that this new structure will sustain and strengthen our unique culture of strong client focus and innovation."

Missouri-based RGA said that Alain Néemeh, Senior Executive Vice President or SEVP of Global Life and Health Markets, will assume responsibility for RGA's core traditional life and health business worldwide.

Anna Manning, SEVP of Global Structured Solutions, will take over responsibility for transactional business, including RGA's Global Financial Solutions and Global Acquisitions units.

Donna Kinnaird, SEVP and Chief Operating Officer, will assume responsibility for corporate initiatives aimed at new expansion opportunities, while also remaining responsible for the company's corporate services and global accounts.

Jack Lay, SEVP and Chief Financial Officer, will continue to be responsible for the Finance and Investments organization.

Worldwide, RGA has about $2.9 trillion of life reinsurance in force and assets of $42.9 billion.

RGA is trading at $86.17, up $1.07 or 1.26 percent on a volume of 7,617 shares.