Construction Begins on New, $150 Million RGA Headquarters

A once tranquil stretch of tall grass next to Chesterfield City Hall buzzed with activity last week as construction crews began work on the future home of Reinsurance Group of American’s new headquarters.

The 17-acre parcel of land will hold two five-story buildings joined by a two-story atrium when it is finished, a total of 405,000 square feet. An official groundbreaking ceremony is set for Monday.

The $150 million project is projected to finish next year and bring with it some economic benefit to the area. Chesterfield’s Economic Development Director Libby Malberg-Tucker estimated the new HQ will add 300 jobs over a period of 10 years.

A Fortune 500 company, RGA has sought breaks on real estate and personal property taxes from St. Louis County along with assistance from state government to help fund the project.

According to a report in the St. Louis Post-Dispatch, RGA experienced a surge in profits in the first quarter of 2013 and is a big player in the global business of providing insurance to life insurance companies. 

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