{"id":756592,"date":"2023-05-09T10:28:39","date_gmt":"2023-05-09T14:28:39","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/rga-completes-transfer-of-hlac-to-omnilife-insurance-company-limited\/"},"modified":"2023-05-09T10:28:39","modified_gmt":"2023-05-09T14:28:39","slug":"rga-completes-transfer-of-hlac-to-omnilife-insurance-company-limited","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/rga-completes-transfer-of-hlac-to-omnilife-insurance-company-limited\/","title":{"rendered":"RGA Completes Transfer of HLAC to Omnilife Insurance Company Limited"},"content":{"rendered":"

<\/p>\n

RGA Completes Transfer of HLAC to Omnilife Insurance Company Limited<\/b><\/p>\n

LONDON–(BUSINESS WIRE<\/a>)–Reinsurance Group of America, Incorporated<\/a> (NYSE: RGA) a leading global life and health reinsurer, today announced it has completed the transformation of the Hodge Life Assurance Company Limited (HLAC) business that RGA purchased in July 2021.<\/p>\n

\nHLAC\u2019s insurance business was transferred to another group company, Omnilife Insurance Company Limited (Omnilife), under a Financial Services and Marketing Act 2000 Part VII transfer. The legal and regulatory process has been completed, as planned, within 12 months.<\/p>\n

\n\u201cOmnilife is RGA\u2019s U.K. consolidation vehicle with strategic plans to acquire additional insurance portfolios,\u201d said Peter Banthorpe, Managing Director, RGA U.K. \u201cThe acquisition of HLAC is Omnilife\u2019s second transaction, and the timely completion of the Part VII transfer demonstrates further the Omnilife team\u2019s capability in executing and integrating these deals.\u201d<\/p>\n

\nFrom a customer point of view, all HLAC policyholders have now been transferred to Omnilife and welcome letters issued to all customers.<\/p>\n

\n\u201cProviding a seamless experience to our customers has been a key priority underpinning the Part VII transfer,\u201d said Deian Jones, CEO, Omnilife and HLAC. \u201cWe are very pleased to welcome the HLAC policyholders to Omnilife.\u201d<\/p>\n

\nNo liabilities remain in HLAC, and the company will therefore be deauthorized.<\/p>\n

About RGA<\/b><\/p>\n

\nReinsurance Group of America, Incorporated (NYSE: RGA) is a global industry leader specializing in life and health reinsurance and financial solutions that help clients effectively manage risk and optimize capital. Founded in 1973, RGA celebrates its 50th anniversary in 2023. Over the past five decades, RGA has become one of the world\u2019s largest and most respected reinsurers and is listed among Fortune’s World’s Most Admired Companies. The global organization is guided by a fundamental purpose: to make financial protection accessible to all. RGA is widely recognized for superior risk management and underwriting expertise, innovative product design, and dedicated client focus. RGA serves clients and partners in key markets around the world and has approximately $3.4 trillion of life reinsurance in force and assets of $89.1 billion as of March 31, 2023. To learn more about RGA and its businesses, visit www.rgare.com<\/a>. Follow RGA on LinkedIn<\/a> and Facebook<\/a>.<\/p>\n

\"\"<\/p>\n

View source version on businesswire.com: <\/span>https:\/\/www.businesswire.com\/news\/home\/20230509005455\/en\/<\/a><\/span><\/p>\n

\nLizzie Curry
\n
Director, Public Relations
\n
RGA
\n
636-736-8521
\n
lizzie.curry@rgare.com<\/a><\/p>\n

KEYWORDS:<\/b> Europe Ireland United Kingdom<\/p>\n

INDUSTRY KEYWORDS:<\/b> Professional Services Business Health Insurance Health Insurance Finance<\/p>\n

MEDIA:<\/b><\/p>\n\n\n\n\n
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RGA Completes Transfer of HLAC to Omnilife Insurance Company Limited LONDON–(BUSINESS WIRE)–Reinsurance Group of America, Incorporated (NYSE: RGA) a leading global life and health reinsurer, today announced it has completed the transformation of the Hodge Life Assurance Company Limited (HLAC) business that RGA purchased in July 2021. HLAC\u2019s insurance business was transferred to another group company, Omnilife Insurance Company Limited (Omnilife), under a Financial Services and Marketing Act 2000 Part VII transfer. The legal and regulatory process has been completed, as planned, within 12 months. \u201cOmnilife is RGA\u2019s U.K. consolidation vehicle with strategic plans to acquire additional insurance portfolios,\u201d said Peter Banthorpe, Managing Director, RGA U.K. \u201cThe acquisition of HLAC is Omnilife\u2019s second transaction, and the timely completion of the … <\/p>\n

Continue reading “RGA Completes Transfer of HLAC to Omnilife Insurance Company Limited”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-756592","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nRGA Completes Transfer of HLAC to Omnilife Insurance Company Limited - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/rga-completes-transfer-of-hlac-to-omnilife-insurance-company-limited\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"RGA Completes Transfer of HLAC to Omnilife Insurance Company Limited - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"RGA Completes Transfer of HLAC to Omnilife Insurance Company Limited LONDON–(BUSINESS WIRE)–Reinsurance Group of America, Incorporated (NYSE: RGA) a leading global life and health reinsurer, today announced it has completed the transformation of the Hodge Life Assurance Company Limited (HLAC) business that RGA purchased in July 2021. HLAC\u2019s insurance business was transferred to another group company, Omnilife Insurance Company Limited (Omnilife), under a Financial Services and Marketing Act 2000 Part VII transfer. 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