Legal & General Retirement America and RGA Partner to Complete $700 Million Pension Risk Transfer Transaction with FirstEnergy [Yahoo! Finance]
Reinsurance Group of America, Incorporated (RGA)
Last reinsurance group of america, incorporated earnings: 1/28 04:15 pm
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Source: Yahoo! Finance
STAMFORD, Conn., March 14, 2024 BUSINESS WIRE Legal & General Retirement America (LGRA), a division of Banner Life Insurance Company, and Reinsurance Group of America, Incorporated (NYSE:RGA) announced today they completed a pension risk transfer (PRT) transaction with FirstEnergy , one of the nation's largest investor-owned electric utilities, for approximately $700 million. The retiree lift-out was executed in December and covers approximately 2,000 retirees – representing about 8% of the company's total pension liability associated with its former generation subsidiaries. LGRA is lead administrator and will be fully responsible for the service and administration of all participants transferred as part of the transaction. Aon and K&L Gates advised FirstEnergy on this transaction. "Partnering with RGA enables us to deliver a unique risk-management solution to FirstEnergy and its annuitants that is backed by the financial strength and experience of two leading insurance companies
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News
- Reinsurance Group of America, Incorporated (NYSE: RGA) had its price target raised by analysts at Morgan Stanley from $178.00 to $185.00. They now have an "equal weight" rating on the stock.MarketBeat
- Global Property and Casualty Reinsurance Market Poised for Strong Growth, Reaching USD 718.8 Billion by 2028, Driven by Increased Catastrophic Events and Regulatory Evolutions [Yahoo! Finance]Yahoo! Finance
- Reinsurance Group of America, Incorporated (NYSE: RGA) had its "outperform" rating re-affirmed by analysts at Royal Bank of Canada. They now have a $212.00 price target on the stock.MarketBeat
- Reinsurance Group of America, Incorporated (NYSE: RGA) had its price target raised by analysts at Wells Fargo & Company from $193.00 to $210.00. They now have an "overweight" rating on the stock.MarketBeat
- Reinsurance Group of America, Incorporated (NYSE: RGA) had its price target raised by analysts at Evercore ISI from $200.00 to $215.00. They now have an "outperform" rating on the stock.MarketBeat
RGA
Earnings
- 2/1/24 - Beat
RGA
Sec Filings
- 4/11/24 - Form ARS
- 4/11/24 - Form DEF
- 4/8/24 - Form 3
- RGA's page on the SEC website