Under the agreement, CSC will transition approximately 80,000 policies acquired by Wilton Re to CSC's insurance BPO operations and provide full back-office administration services. CSC also will provide the scalable foundation for future Wilton Re acquisitions.
"During the past 10 years, we've helped our clients successfully complete more than 85 large-scale life insurance BPO transitions and transformations," said Jim Cook, president of CSC's financial services sector. "Our combination of industry experience, innovative solutions, proven processes and ability to deliver operational results positions Wilton Re for growth."
CSC, according to press information, has offered insurance BPO services for more than 20 years, and provides full insurance operational support and processing for more than 5.3 million policies representing more than $3 billion in life and annuity premiums and $2.5 billion in property and casualty premiums. The El Segundo, Calif.-based firm's BPO services support more than 100 financial services organizations worldwide.
Launched in 2005, Wilton Re Holdings Limited provides traditional insurance solutions through its wholly owned operating subsidiaries, Wilton Reassurance Company, Wilton Reinsurance Bermuda Limited, and Wilton Reassurance Life Company of New York.
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