Funded reinsurance (funded re) deals in Continental Europe present unique challenges, but RGA has distinguished itself as a market leader in the space, exemplified by its recent transactions with Allianz Suisse and with Baloise Belgium.

RGA's €300m ($348m) funded re deal in Switzerland with Allianz Suisse, announced in August 2025 was a first-of-its-kind transaction. Along with RGA's 2024 €900m transaction with Baloise in Belgium, it signals increased acceptance and continued momentum for similar opportunities in Continental Europe.

What stood out to the judges is that RGA delivered bespoke funded re structures that enabled Allianz Suisse and Baloise Belgium to optimise regulatory capital under Solvency II, freeing up resources for growth and strategic investments.

For Allianz Suisse, the RGA deal required harmonising Swiss regulatory expectations with Solvency II principles, a task that demanded meticulous planning and stakeholder engagement. RGA's team worked closely with Allianz Suisse's risk and finance departments, as well as external advisors, to ensure seamless execution.

The Baloise Belgium transaction further demonstrated RGA's execution expertise.

Operating within the Belgian regulatory environment, the life reinsurer collaborated intensively with the client to structure a solution that balanced capital efficiency with operational simplicity.

In executing these deals, RGA has demonstrated that funded re can be a powerful tool for insurers navigating capital challenges in a dynamic regulatory landscape.