Reinsurance Group Of America To Buy In-Force Mortality Block From Voya Financial

(RTTNews) - Reinsurance Group of America, Inc. or "RGA" and Voya Financial, Inc. (VOYA), which has rebranded from ING U.S., announced the execution of agreements, pursuant to which RGA would reinsure a block of in-force level term insurance policies issued by Voya Financial. RGA would reinsure nearly $104 billion of life insurance in force comprising nearly 170,000 policies.

"This transaction leverages RGA's deep expertise and understanding of the U.S. mortality market, and aligns well with our disciplined Global Acquisitions strategy," said Greig Woodring, President and Chief Executive Officer. "We are pleased to further strengthen our long-term customer relationship with Voya Financial through this transaction."

The transaction may close in the fourth quarter of 2014.