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September 14, 2007 at 09:44 PM
A young life reinsurer says it is building the infrastructure it needs to handle large transactions.
Wilton Re Holdings Ltd., Hamilton, Bermuda, the parent of Wilton Re, Wilton, Conn., has agreed to pay Computer Sciences Corp., El Segundo, Calif., $20 million over 10 years to have CSC administer the life insurance policies Wilton Re has acquired.
The agreement calls for CSC to handle policy and claims administration, customer service, billing and premium processing for about 80,000 policies acquired by Wilton Re.
The agreement also calls for CSC to “provide the scalable foundation for future Wilton Re acquisitions,” Wilton Re says.
The CSC agreement will “allow us to be agile and aggressive with our acquisition strategy,” Enrico Treglia, chief operating officer at Wilton Re’s Wilton Re Services Inc. unit, says in a statement.
