Insurance technology specialist Ebix has reported first-quarter net income of $US18.3 million ($23.1 million), up 19% on the corresponding period last year.

Revenue grew 24% to $US63.8 million ($80.3 million) due to growth in life, annuity, underwriting and health e-commerce services.

Acquisitions last year also contributed to growth, partially offset by falling revenue from international locations due to the strengthening US dollar.

“We believe we can significantly grow both our top line and bottom lines as we execute and deliver on some of our recent large contract wins,” Chairman, President and CEO Robin Raina said.

“We intend to continue to be opportunistic in selecting accretive acquisitions in relevant geographies in line with our strategic plan, and we believe we can continue to secure large deals. We are currently bidding on multiple sizeable deals that we believe could favourably contribute substantially to our results in the future.”

Ebix Australia MD Leon d’Apice told insuranceNEWS.com.au the local business had a strong first quarter, reflecting local market growth and new product strategies.

“In particular, the uptake of our new mobile solutions and iClose e-commerce platform are starting to gain momentum.”