Ebix Australia says revenue grew 8% last year, supported by new clients, a major software upgrade for Aon and strong e-commerce.

“In the current climate, we view that as a very positive result,” MD Leon d’Apice told insuranceNEWS.com.au.

Global broker Gallagher has selected the Ebix Evolution broker system, and life insurance entrant Neos has chosen the OneOffice system. Continued growth from the market-leading Sunrise Exchange transaction platform and the iClose end-to-end business solution also contributed.

While financial details of the Ebix Australia operation’s results are not available, US-based Ebix says its overall group profit grew 7% to $US100.6 million ($126.9 million) last year.

Revenue increased 22% to $US364 million ($459 million), led by gains in the exchanges business as the group expands its offering.

Chairman and CEO Robin Raina says the company has broadened its operations beyond the insurance sector to establish a strong financial exchange presence, and is well positioned for a solid year.

“We are in advanced stages of review on several acquisition opportunities that have the potential to make material contributions to our results [this year] if we complete these transactions on the contemplated terms,” Mr Raina said.

“Also, we have executed a number of large new business contracts that are expected to start contributing to our top line [this year].”