Tindall Acquired by Joint Venture of MSG Global Solutions and LOGiQ3
Staff Writer | February 20, 2015
Tindall Associates (TAI), a life reinsurance software and consulting service, 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/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.
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 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. The TAI system, which can be deployed outside North America, is suitable for multiple regions and multiple currencies.
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, CTO 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 establish a 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,” says Bernhard Lang, msg global solutions’ CEO. “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 May 2013, has already acquired 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,” says LOGiQ3 COO Simon Bell. “We are thrilled with the opportunity to extend our comprehensive suite of insurance and reinsurance services to the TAI client base.”
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