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Ebix grows on ‘domain expertise, customer awareness’

Insurance technology specialist Ebix says first-quarter revenue grew 11% to $US79.1 million ($107.3 million), reflecting growth in its exchange, risk compliance and broker solution channels, and its growing reputation.

Net income was $US26.4 million ($35.8 million), up 19% on the corresponding period last year.

Chairman, President and CEO Robin Raina says deploying more people to projects such as the PPL Reinsurance Exchange in London and underwriting exchanges in the US has provided long-term revenue streams and lucrative referrals.

“The growing customer awareness of Ebix’s domain expertise and performance has opened up many new business opportunities – deals we would not have known about had our customers not made the strong positive recommendations,” he said.

He says Ebix is pursuing acquisition opportunities that can prove major growth drivers, and will announce one such deal soon.

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