Reinsurance Group of America Inc. says it intends to offer Class A common stock with a value of $250 million to members of the general public.
RGA, Chesterfield, Mo., wants to use the cash from the offering for general corporate purposes and to “pursue reinsurance opportunities,” the company says.
MetLife Inc., New York, formerly RGA’s majority owner, recently transferred a large stake in RGA to shareholders and is no longer the company’s majority owner.
Credit Suisse Securities (USA) L.L.C., New York, and Morgan Stanley & Company Inc., New York, are the joint book-running managers for the transaction.
Fox-Pitt Kelton Cochran Caronia Waller (USA) L.L.C., New York, is the lead manager.
RGA says it has given the underwriters an option to buy up to 15% additional shares of RGA Class A common stock.