The Australian operations of insurance technology specialist Ebix has been singled-out for further growth.

Reporting a 21% rise in third-quarter net profit to $US29.2 million ($40.2 million), driven by its core exchange business, Chairman and CEO Robin Raina said

Exchange revenue, which made up 83% of turnover, grew 67% to $US106.9 million ($147.22 million), lifting overall revenue 39% to $US128.6 million ($177 million).

Discussions are under way to grow the exchange business further in Australia and the UK.

“We are… negotiating a number of large-value recurring exchange deals in international markets,” Mr Raina said. “If consummated, these agreements should contribute to our growth goals for revenue and operating margins.

“We believe substantial top-line growth [next year] will come primarily from the US, southeast Asia, the Middle East, the UK, Australia and Brazil, where we are undertaking a number of new business development initiatives.”