Ebix Australia says its investment in e-commerce platforms and new technologies including mobile and cloud is paying off.

“Locally we enjoyed a very strong year across all business segments,” Australian MD Leon d’Apice told insuranceNEWS.com.au after the US-based parent reported its results.

“In a very saturated market we continue to add new clients, as well as working with existing clients to expand their use of technology.”

Revenue in local currency terms increased last year for the Australian business, but currency movements curbed the US dollar contribution to the global result.

Ebix operates Sunrise Exchange, the Australian industry’s largest insurance trading platform. It also offers the WinBEAT, eGlobal and CBS broking systems, and added the Evolution system to its range last year.

The global group has forecast a solid result this year, lifted by acquisitions and deals, after overall earnings increased last year.

“We are at the advanced stages of review on several acquisition opportunities that should contribute to our results [this year], if we close these transactions after completing our review,” Chairman and CEO Robin Raina said.

“Also, we have agreed on a number of large-value business contracts that are likely to start contributing to our top line [this year].”

Ebix net profit grew 18% to $US93.8 million ($123.5 million) last year, while revenue gained 12% to $US298.3 million ($392.6 million).

The revenue included an 8% gain from exchanges, which accounted for more than two-thirds of the total, while broker systems revenue declined 3% and risk compliance solutions jumped 33%.

Ebix Corporate VP Darren Joseph says currency movements reduced UK revenue compared with expectations and affected contributions from other parts of the international business.

“The change in foreign currency exchange rates decreased reported Australian and Latin American operating revenues by $US410,000 ($539,616) and $US300,000 ($394,841) respectively,” he said.

Fourth-quarter net profit grew 12% to $US24.6 million ($32.4 million) as revenue increased 14%.