ST. LOUIS--(BUSINESS WIRE)--Reinsurance Group of America, Incorporated (NYSE: RGA) today announced that it has acquired Nebraska-based underwriting services provider, Elite Sales Processing, Inc. (ESP). Under the terms of the deal, ESP will become a wholly owned subsidiary of RGA.
“Underwriting support has always been one of RGA’s core service offerings. ESP, a leader in the growing outsourced underwriting market, is well-known and highly respected in the direct insurance industry,” said Alain Néemeh, RGA’s Senior Executive Vice President, Global Life and Health Markets. “We are delighted to have ESP become a subsidiary of RGA, and believe our combined product offerings will be beneficial for our clients.”
“RGA and ESP have a long, mutually beneficial history working together,” said Tom Gracey, Chairman and Co-Founder, ESP. “We are looking forward to an exciting future as an RGA subsidiary.”
In addition to its Omaha headquarters, ESP has a contact center in Harlan, Iowa. Staffing at both offices is expected to remain unchanged. Additional terms of the deal, including the transaction price, are not being disclosed.
Reinsurance Group of America, Incorporated is one of the largest global life and health reinsurance companies in the world. The company provides clients with individual life reinsurance, individual living benefits reinsurance, group reinsurance, health reinsurance, financial solutions, facultative underwriting and product development. RGA and its subsidiaries serve clients from operations in Australia, Barbados, Bermuda, Canada, China, France, Germany, Hong Kong, India, Ireland, Italy, Japan, Malaysia, Mexico, the Netherlands, New Zealand, Poland, Singapore, South Africa, South Korea, Spain, Taiwan, Turkey, the United Arab Emirates, the United Kingdom, and the United States. Worldwide, RGA has approximately $2.9 trillion of life reinsurance in force and assets of $47.5 billion.