Investment Strategy
Reinsurance Group of America is one of the world’s largest life and health reinsurers, providing reinsurance solutions to insurance companies across more than 80 countries. Headquartered near St. Louis, Missouri, RGA has built its business on deep actuarial expertise and risk management capabilities. The company’s investment portfolio of approximately $80 billion supports its reinsurance obligations and is managed by an experienced in-house investment team.
The portfolio is predominantly invested in investment-grade fixed income, including US corporate bonds, government securities, asset-backed securities, and commercial mortgage-backed securities. RGA’s long-duration life reinsurance liabilities require a carefully managed fixed income portfolio with appropriate duration matching. Within this framework, the company allocates approximately 7% to alternative investments.
RGA’s alternatives program includes private equity fund commitments, private credit investments, and real estate. The company has been growing this allocation to enhance risk-adjusted returns and reduce concentration in traditional fixed income. Private credit is a natural extension of RGA’s fixed income expertise, and the company invests in direct lending, structured credit, and mezzanine strategies.
How to Approach
GPs seeking engagement with RGA should approach the investment management team in Chesterfield. The company’s institutional sophistication, rooted in actuarial and financial modeling expertise, means the investment team evaluates opportunities rigorously. Managers offering private credit, infrastructure, or buyout strategies with predictable cash flow characteristics will find the strongest alignment. The company values transparency, operational quality, and track record consistency.
Frequently Asked Questions
What is RGA's investment portfolio composition?
RGA's investment portfolio of approximately $80 billion is primarily invested in investment-grade fixed income, including corporate bonds, US government securities, and structured products. The company allocates roughly 7% to alternatives including private equity, private credit, and real estate, managed to complement the core fixed income portfolio.
How does RGA approach alternative investments?
RGA invests in alternatives through fund commitments and co-investments with established managers. The company's focus on life and health reinsurance means its liabilities are long-duration, making private equity, infrastructure, and private credit natural complements to the fixed income core. RGA has been incrementally growing its alternatives allocation in recent years.
How can fund managers engage with RGA?
GPs should approach RGA's investment management team based in Chesterfield, Missouri. The company evaluates opportunities across private equity, private credit, and real estate. Managers with strategies offering yield enhancement, portfolio diversification, and capital efficiency will find the best alignment. RGA is a sophisticated investor with deep actuarial and financial expertise.
