Reinsurance Group of America (RGA) has acquired Nebraska-based underwriting services provider, Elite Sales Processing (ESP).
Under the terms of the transaction, ESP will become a wholly owned subsidiary of RGA.
Alain Néemeh, RGA’s senior executive vice president, global life and health markets, said: “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.
“We are delighted to have ESP become a subsidiary of RGA, and believe our combined product offerings will be beneficial for our clients.”
Tom Gracey, chairman and co-founder, ESP, added: “RGA and ESP have a long, mutually beneficial history working together. We are looking forward to an exciting future as an RGA subsidiary.”