Life reinsurer creates three global businesses

US-based life reinsurer Reinsurance Group of America (RGA) has reorganised its structure around three new global business units.

The three units are Global Mortality Markets, Global Group, Health and Long-Term Care, and Global Financial Markets.

Global Financial Markets includes all capital motivated transactions, asset intensive businesses and in force block transactions.

“We believe our new organisational structure will let us transcend geographical boundaries, and provide our clients with greater access to the tremendous breadth and depth of resources and knowledge available within RGA,” RGA president and chief executive Greig Woodring said in a statement. “We will continue to assess geographic markets as we review new market opportunities, capital allocation and economic performance.”

The reinsurer has also made management changes related to the restructuring. Graham Watson will lead the Global Mortality Markets business. Watson joined RGA in 1996.

Paul Schuster now heads the Global Group, Health and Long-Term Care businesses, as well as Global Financial Markets. Schuster took the helm of the U.S. Division in 1991.

Paul Nitsou will assume the role of executive vice-president, major accounts - a newly created position. Nitsou joined RGA in 1996 and was a founding member of the management team that created RGA’s international reinsurance operations.

Gary Comerford will become the global chief marketing officer. Comerford joined RGA in 2009.

Mark Showers will oversee the global integration of information technology, providing services and support across all businesses regardless of geography.