RGA Finalizes Acquisition of U.S. and Canadian Group Life, Accident and Health Reinsurance Business from ING Group

Reinsurance Group of America, Incorporated (NYSE:RGA) announced it has finalized the acquisition of the U.S. and Canadian group life, accident and health reinsurance business from ReliaStar Life Insurance Company. ReliaStar's reinsurance business operated under the name ING Reinsurance. ReliaStar is a subsidiary of ING Groep N.V. The acquisition was effective January 1.

A. Greig Woodring, president and chief executive officer of RGA, said, "We are excited to have ING Reinsurance's highly regarded group reinsurance team become a part of our organization. Our businesses already are aligned in a number of ways. We are both industry leaders with a strong focus on client satisfaction, and we both have long-tenured, experienced associates. Drawing on our collective knowledge, we can build and strengthen RGA's group reinsurance business in North America and around the world."

The ING Reinsurance team, which consists of approximately 90 associates, will remain in Minneapolis. The team will continue to underwrite group life, disability, specialty and medical and managed care reinsurance, as well as provide value-added services such as the ROSE® and ROSEBUD® claims management services, client-directed market research, facultative underwriting and risk reviews.

"We are excited to join a company where our reinsurance services will be considered part of the core business operations," said Mike Emerson, president of ING Reinsurance. "Becoming part of one of the largest reinsurance companies in the world will be a significant benefit to our clients and associates. We expect this to be a smooth transition."