Ebix Australia has posted a strong second quarter and expects revenue to increasingly flow from new initiatives, MD Leon d’Apice says.

“We have a number of new strategic projects that have kicked off, and we are just starting to see some revenue flow from those,” he told insuranceNEWS.com.au.

These projects involve life and general insurance, while the company has also seen good interest from recent product additions such as a cloud solution rolled out late last year, Mr d’Apice says.

Ebix’s global second-quarter net profit grew 2% to $US23.4 million ($29.6 million) after revenue surged 20% to $US87.39 million ($110.7 million).

Revenue growth in the exchanges segment was bolstered by the acquisition of the ItzCash payments business, while risk compliance solutions also had strong gains.

“These are record results for the company in terms of top line and we are pleased to get there with 30.4% in operating margins,” Chairman and CEO Robin Raina said.

The company flagged substantial revenue growth “from a number of areas” over the next few quarters as it aims towards a quarterly run-rate level of $US100 million ($126.6 million).

Mr Raina says drivers will include contracts and initiatives in Brazil and India, plus “many new insurance exchange-related contracts” in the US and Australia.