Joint venture will expand TAI’s global presence and complement LOGiQ3‘s services offering and msg global solutions’ reinsurance solutions portfolio
Orland Park, Ill. (Feb. 19, 2015) – Tindall Associates (TAI), the U.S. market leader in life reinsurance software and consulting services, is at the center of a new joint venture by msg global solutions – a Swiss-based provider of integrated technology and services to the insurance, reinsurance, and financial services industries – and LOGiQ3 Corp., a Toronto-based company that provides expert life insurance and reinsurance services. Terms of the transaction were not disclosed.
In its 30th year, TAI remains the leader in ceded and retroceded reinsurance systems in North America, with a strong market reputation serving more than 100 customers. Jointly, TAI and the partners will have increased access to global distribution channels and product investment. Through LOGiQ3 and msg global solutions, TAI will also gain access to additional insurance and reinsurance expertise and a full suite of reinsurance administrative solutions available to the market.
TAI’s software products are well-known in North America as the standard for data and exchange for life reinsurance. TAI offers its customers the ability to process assumed as well as ceded and retroceded business on the same stand-alone system. Further, TAI retains a leadership position in life reinsurance reporting. The TAI system, which can be deployed outside North America, is suitable for multiple regions and multiple currencies. The solution enjoys wide acceptance throughout North America, Bermuda and the Caribbean.
TAI operations will remain independent, with support from msg global solutions and LOGiQ3 for any future software development, architecture or consulting services. The firm’s current leadership, along with its license model and commitment to customer service excellence, will remain in place.
“This transaction is a clear signal to existing TAI customers regarding the quality of the solution they have already purchased, and a reflection of our solid commitment to a long-term product strategy,” said Steve Jerger, Chief Technology Officer at TAI. “We believe this joint venture solidifies TAI’s mission to become the global ceded life reinsurance system of choice and the number-one ceded life reinsurance platform worldwide.”
The acquisition of TAI strengthens msg global solutions’ North American business and leading position in the life reinsurance market. With the msg.LRM (life reinsurance module) solution and the TAI system, the three partners (msg global, LOGiQ3 and TAI) establish a unique competitive advantage in North America for ceded and assumed life reinsurance software and services.
“Reinsurance has been a focus of the msg group since the 1980’s,” said Bernhard Lang, msg global solutions’ Chief Executive Officer. “We’ve been well received and successful in the North American market. With the TAI solution we realize a complement to our reinsurance offering and can offer more services to our existing customers and serve new customers with specific needs for ceded and retroceded reinsurance and life reinsurance. The innovations we will bring to the TAI solution will also benefit the existing customer base of TAI.”
LOGiQ3, a joint venture partner to msg global solutions since March 2013, has already acquired solid depth and breadth of experience working with TAI, using the TAI system for its Reinsurance Administration outsourcing business over several years as a consulting and outsourcing services provider.
“This transaction enables LOGiQ3, msg global solutions and TAI to continue to partner with leading insurers and reinsurers to shape the industry through the world-class people, process, and tools that drive the industry forward on a global scale,” said LOGiQ3 Chief Operating Officer Simon Bell. “We are thrilled with the opportunity to extend our comprehensive suite of insurance and reinsurance services to the TAI client base.”
About Tindall Associates (TAI)
Based outside Chicago, TAI offers a complete software solution for life insurance companies to self-report all their reinsurance information; assumed, ceded or retroceded, in an electronic format to share with trading partners on a cost-effective basis. To learn more about TAI, visit www.taire.com.
LOGiQ3 is the expert provider of life insurance and reinsurance consulting and outsourced services. LOGiQ3 delivers long-term strategic solutions and short-term tactical support across Distribution, Underwriting, Reinsurance Administration, Claims and Audit. LOGiQ3 supports clients across the life insurance service chain from agent to retrocessionaire from its offices in Toronto, Canada, and Cardiff, UK. To learn more about LOGiQ3, visit www.LOGiQ3.com.
About msg global solutions
msg global solutions is a product-based systems integrator that serves insurers and reinsurers in all lines of business, in all regions of the world. Our expert teams employ a complete selection of consulting services and software products to help large and mid-size clients succeed with a range of business and IT strategies, including digital transformation.
msg global solutions is part of msg group, an independent, international group of companies with autonomous regional companies and subsidiaries and well over 4,500 employees worldwide. msg offers a holistic service spectrum of creative, strategic consulting and intelligent, sustainable and value-added IT solutions and has acquired an excellent reputation as an industry specialist during its more than 30 years in business. msg holds seventh place in the ranking of IT consulting and system integration companies in Germany. To learn more about msg global solutions, visit www.msg-global.com.