logo
Share SHARE
FONT-SIZE Plus   Neg

Ebix Buys London-based TriSystems - Quick Facts

Ebix Inc. (EBIX) has acquired London-based TriSystems Ltd., an online insurance trading hub facilitating commercial insurance and reinsurance transactions between London intermediaries and insurance companies. The TriSystems products and Services would now become a part of the EbixExchange Division of Ebix Europe.

Further, Ebix expects the merger to be immediately accretive to its earnings per share. The company said the transaction was funded completely in cash, and no Ebix shares were issued and no investment bankers were involved.

The TriSystems On-Demand SaaS platform communicates electronic endorsements and placements with underwriters using ACORD messaging over the Lloyd's Exchange together with Accounting and Settlement or A&S and Electronic Claims File or ECF via. the Insurance Market Repository.

TriSystems Business Development Director, Jeff Ward, said, "Ebix's expertise in the insurance industry coupled with its commitment to open architecture and standards will help us provide an even higher level of quality of services to our customer base. It expands our international reach and also offers us access to Ebix's insurance focused staff of approximately 2000 employees."

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
French aircraft maker Dassault Aviation SA said Wednesday that following repeated delays, it has terminated a contract with French defense company Safran for its Silvercrest engine that was intended to power Dassault's Falcon 5X business jet. Walt Disney Co. has agreed to buy certain assets of Rupert Murdoch's Twenty-First Century Fox, Inc. for about $52.4 billion in stock, the two companies said Thursday. Immediately prior to the acquisition by Disney, 21st Century Fox will separate the Fox Broadcasting network, Fox News Channel, Fox Business Network, FS1, FS2 and Big Ten Network into a newly listed company that will be spun off. Crypto Co., engaged in the digital currencies and blockchain sector, announced its plans to execute a 10-for-1 stock split, citing the significant growth in the value and demand for its shares amid the ongoing digital currency market boost. CEO Mike Poutre said, ""We are aware of the recent fluctuation in our stock, and want to see orderly market activity surrounding the trading of our stock."
comments powered by Disqus
Follow RTT