Glencoe Group Claims Management, an indirect wholly owned subsidiary of RenaissanceRe Holdings, has acquired the assets of Claims Management Services. The terms of the transaction were not disclosed.
Based in Roswell, Georgia, Claims Management Services (CMS) has provided third-party administrative services to the insurance company subsidiaries of Glencoe Group Holdings, RenaissanceRe’s individual risk unit, on an outsourced basis since 2005.
As a result of the transaction, approximately 50 CMS employees have joined the Glencoe Group.
William Ashley, president and CEO of the Glencoe Group, said: We look forward to welcoming the CMS team as our colleagues. Our transaction with CMS furthers our strategic plan to balance owning important capabilities with outsourcing.