Reinsurance Group of America Inc. is expanding its ability to offer big reinsurance arrangements throughout the world.
RGA, a life and health reinsurer based in Chesterfield, Missouri, has announced two major deals this week.
The company’s RGAx insurtech arm has agreed to acquire LOGiQ3 Inc., a Toronto-based insurtech company.
The company has also agreed to team up with RenaissanceRe Holdings Ltd. to set up Langhorne Re, a reinsurer that will specialize in reinsuring large, in-force blocks of life and annuity business.
(Related: Reinsurer Says Mortality, Investment Spreads Look Fine)
RGA is a publicly traded reinsurer with about $59 billion in assets and $3.3 trillion of reinsurance in force.
Acquiring LOGiQ3 would help RGA manage any insurance companies, or large blocks of business, it acquires through reinsurance arrangements.
LOGiQ3 is a privately held company can underwrite life insurance, process insurance claims, and administer life and health reinsurance arrangements.
Another arm, TAI, provides reinsurance software and consulting services in the United States.
LOGiQ3 has a total of about 100 employees in the United States, Canada and the United Kingdom.