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
Changyou.com Ltd. (CYOU) Monday reported first quarter net income attributable to Changyou.com of $30 million, down from $32 million in the prior year. Adjusted net income was $35 million. The online games developer noted that its first quarter was impacted by currency fluctuations. On average, five... Dutch consumer electronics giant Philips Electronics NV reported Monday significantly higher earnings in its first quarter as sales were boosted by higher volume. Looking ahead, the company said its outlook for 2017 remains unchanged as it expects further operational improvements and comparable sales growth in the year to be back-end loaded. A search has been launched for a dog that was placed aboard a wrong WestJet flight and ended up in Hamilton. The labradoodle named Cooper was mistakenly put on a flight to Hamilton and got off its leash in the Ontario city after it was taken out of its kennel by airline staff for a walk.
comments powered by Disqus
Follow RTT