Reinsurance Group of America (RGA) has entered into a coinsurance agreement with Tongyang Life Insurance Company to reinsure a KRW200bn (approximately $144.35m) in-force block of life policies in South Korea. This marks the country’s first cross-jurisdictional coinsurance transaction. The deal is expected to help Tongyang Life manage its capital and financial stability amid uncertain market conditions. RGA has been a pioneer in using reinsurance as a financial management tool and has executed numerous coinsurance transactions across the Asia Pacific region.
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