Reinsurance Group of America completed the acquisition of Hodge Life Assurance Company Limited from Hodge.

Reinsurance Group of America, a providers of life reinsurance and financial solutions, completed the acquisition of Hodge Life Assurance Company Limited, a provider of underwriting of life insurance services, from Hodge, an independently owned group of businesses. Financial terms were not disclosed. “This is a significant transaction for Hodge; allowing us to focus and grow across our specialist markets through Hodge Bank. Later life lending remains a key part of our business and we will continue to evolve and develop our product range. As a result of the sale, we are withdrawing from the equity release market. However, as the longest established equity release lender in the UK, we are looking at opportunities to re-enter this market soon, working with third party funders,” David Landen, Hodge Group CEO.