Bermuda reinsurer RenaissanceRe Holdings Ltd. announced late yesterday that its indirect wholly-owned subsidiary, Glencoe Group Claims Management Inc., has acquired the assets of US company Claims Management Services Inc. (CMS).

CMS is a privately-held provider of claims administration, adjustment and consulting services. Based in Roswell, Georgia, CMS has provided third party administrative services to the insurance company subsidiaries of Glencoe Group Holdings Ltd., RenaissanceRe's Individual Risk unit, on an outsourced basis since 2005. Terms of the transaction were not disclosed.

"Extending the capabilities of our individual risk companies while maintaining our reputation for high quality client service is a key priority for our company," said Neill Currie, president and chief executive officer.