RGA Taps Lincoln CIO to Helm $156B Global Investment Strategy

ST. LOUIS, MO – March 02, 2026 – Reinsurance Group of America, Incorporated (RGA) today announced a significant leadership transition, appointing Jayson Bronchetti, a high-profile investment chief from Lincoln Financial, as its new Executive Vice President, Investments. The move signals a strategic push to enhance the reinsurer's already formidable investment engine as it navigates an increasingly complex global financial landscape.

Effective today, Bronchetti will take charge of RGA’s global investment management strategy and organization, overseeing the company's $156.6 billion in total assets. He will report directly to Tony Cheng, President and Chief Executive Officer of RGA. The appointment marks a key succession event, with Bronchetti stepping into the role held by Leslie Barbi, who is retiring after leading RGA’s investment function since 2020.

A Strategic Enhancement for a Global Giant

Bronchetti’s appointment is being viewed by industry observers as more than a simple leadership change; it is a strategic acquisition of talent designed to fortify RGA’s financial stewardship. He arrives from Lincoln Financial, where he served as Executive Vice President, Chief Investment Officer, and Head of Hedging & Sustainability. At Lincoln, he was responsible for a colossal portfolio of over $300 billion in assets, spanning both the general account and a separate account mutual fund complex.

His extensive experience includes guiding the strategy for a massive $150 billion variable product hedging program, a skill set directly applicable to the sophisticated risk management required at a top-tier reinsurer like RGA. In the official announcement, RGA’s CEO Tony Cheng highlighted these qualifications, stating, “Jayson’s leadership and ability to pair strategic vision and industry knowledge with rigorous investment execution make him an exceptional addition to RGA’s executive team.” Cheng added, “I am excited to welcome him to RGA, knowing his expertise in investment management, risk oversight, and forward-thinking strategies will help us build on our strengths and continue creating lasting value for stakeholders.”

Bronchetti's background is steeped in complex financial management. Before his promotion to CIO at Lincoln in 2021, he held progressively senior roles within the company, which he joined in 2013. His career also includes senior positions in debt capital markets at J.P. Morgan and roles in private equity and investment banking with Macquarie Investments and Bank of America.

Building on a Foundation of Private Asset Growth

Bronchetti inherits an investment platform that is already performing strongly and evolving. Under the leadership of the retiring Leslie Barbi, RGA has cultivated a high-quality, resilient, and diversified portfolio designed to weather economic cycles. A key feature of her tenure was a significant and successful push into private markets.

In 2024 alone, RGA Investments sourced a record $6 billion in private assets, leveraging both internal origination teams and established relationships with external asset managers. The company's Private Debt and Equity platform also had a record year, investing $1.1 billion in commitments. This strategic allocation is designed to capture higher risk-adjusted returns by focusing on areas like middle-market, sponsor-owned companies.

This existing foundation in alternative investments provides a robust platform for Bronchetti, whose own expertise aligns perfectly with this trajectory. RGA has already demonstrated a commitment to innovative partnerships, such as its recent strategic investment in FoxPath Capital Partners to enhance access to the private credit secondary market. This groundwork ensures that Bronchetti is not starting from scratch but is instead positioned to accelerate a strategy already in motion.

The Bronchetti Playbook: Alternatives, Hedging, and Efficiency

While building on Barbi’s legacy, Bronchetti is expected to bring his own distinct playbook to RGA, shaped by his successes at Lincoln Financial. He is a vocal proponent of expanding the role of private markets in insurance portfolios, viewing asset-liability matching as a critical framework for these allocations. At Lincoln, he was instrumental in forging unique partnerships with top-tier asset managers like Bain Capital and Partners Group to launch new private market funds, a strategy he may look to replicate or expand at RGA.

His reputation is built on deep due diligence and a focus on capital efficiency. At his former post, he concentrated on maximizing distributable earnings and improving free cash flow while reducing the company's sensitivity to market volatility—goals that are paramount for any global reinsurer. His extensive experience managing one of the industry's largest hedging programs provides RGA with elite expertise in protecting its balance sheet against market shocks.

Furthermore, Bronchetti’s mandate at Lincoln extended to sustainability and new ventures. He headed the company's Chief Sustainability Office, embedding ESG principles into investment strategy, and designed investment frameworks for new initiatives, including the launch of a Bermuda-based reinsurance entity. This background suggests he could play a pivotal role in advancing RGA’s ESG integration and exploring innovative new business structures to optimize capital and drive growth.

The Competitive Landscape for Investment Leadership

Bronchetti’s move from one industry giant to another highlights a fierce, ongoing competition for elite investment talent within the financial services sector. For global insurers and reinsurers managing hundreds of billions in assets against long-duration liabilities, the Chief Investment Officer role is one of the most critical in the executive suite.

These leaders are tasked not only with generating returns but also with navigating a minefield of risks, including interest rate volatility, credit cycles, and inflation. The hunt for yield in a fluctuating rate environment has pushed firms deeper into complex asset classes like private credit, infrastructure debt, and private equity, demanding a CIO with a rare combination of market acumen, risk management discipline, and strategic vision.

Bronchetti, a Chartered Financial Analyst (CFA) and Chartered Alternative Investment Analyst (CAIA) who is also a graduate of the Wharton School's Executive Development Program, embodies the type of multifaceted leader these firms covet. His decision to join RGA is a significant win for the St. Louis-based reinsurer, equipping it with a proven leader capable of steering its vast portfolio through the next chapter of market evolution. As he takes the helm, stakeholders will be watching closely to see how his well-honed strategies will shape the future of RGA's powerful investment engine.