Reinsurance Group's RGAx to acquire LOGiQ3, terms not disclosed
RGAx, a subsidiary of Reinsurance Group of America, announced that it has agreed to acquire LOGiQ3, a group of companies that provides technology, consulting, and outsourcing solutions to the North American life insurance and reinsurance industry. The LOGiQ3 Group includes LOGiQ3, APEXA, Cookhouse Lab, and Tindall Associates. LOGiQ3 specializes in consulting and outsourcing services for life insurance underwriting, claims, and life and health reinsurance administration. APEXA delivers a centralized online solution for advisor contracting and compliance in Canada. Cookhouse Lab, a joint venture with msg global solutions, aims to accelerate insurance innovation by bringing the industry together through an open and collaborative model. TAI is the U.S. market leader in reinsurance software and consulting services with over 30 years of experience. In a related transaction, RGAx will also acquire the remaining ownership stake in TAI held by msg global solutions. LOGiQ3 Group, with approximately 100 employees in the U.S., Canada, and the U.K., will maintain a separate operation and retain employees in their current roles. The transactions are expected to close during 1Q18. Additional terms of the transactions, including the sale prices, are not being disclosed.