Reinsurance Group Of America To Acquire Life Insurance Portfolio From PGGM

(RTTNews) - Reinsurance Group of America, Inc. (RGA) announced that its Netherlands life insurance subsidiary, Leidsche Levensverzekeringen Maatschappij N.V., will acquire the life insurance policy portfolio of PGGM Levensverzekeringen under a Part 7 portfolio transfer agreement.

Under the terms of the proposed closed-block transaction, PGGM will transfer 75,500 life insurance policies to RGA. PGGM, a Netherlands-based cooperative, offers its institutional clients asset management, pension fund management, and consultancy.

The move is part of Reinsurance Group's growth strategy in the Netherlands. In accordance with the agreement, additional terms of the transaction are not being disclosed.