Global alternative asset manager, Apollo Global Management, Inc., has closed an agreement for its affiliated companies, third-party insurance managed accounts, and other institutional clients to invest $500 million into surplus notes issued by Reinsurance Group of America’s (RGA) wholly owned indirect subsidiary, Chesterfield Reinsurance Company.
This bespoke, high-grade investment solution was Apollo’s second transaction with RGA and utilised cross-platform expertise, including in insurance, insurance-linked securities (ILS), and multi-asset credit.