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Jelf moving onto Acturis as revenues soar

03 June 2006

Southern consolidator Jelf is moving its systems onto London based software house Acturis's platform. The majority of Jelf's business is conducted with Open GI (formerly Misys) and the integration onto Acturis will include the recently acquired Goss Group which is currently on Sectornet.

Jermemy Wilson, an executive director in Jelf's insurance division and formerly chief executive of Goss, stepped down from head of the Sector User Group in February this year. The Sector User Group included a panel of Sectornet's customers; Sectornet was acquired by Software Solutions Parrtners (PB, January).

Wilson told Professional Broking: "I became Jelf's 'IT sponsor' following Jelf's acquisition of Goss. This led me to step down as chair of the Sector User Group. We reviewed the different software solutions available carefully and there was a coming together of minds in favour of Acturis".

Jelf had already begun a review of its software supplier Open GI before the Goss acquisition. The migration to Acturis will begin in September and continue until April. Over 200 users will make the switch.

Meanwhile, Jelf reported interim turnover of £7.5m to 31 March this year, an increase of 53% over the same period last year.

Earnings before interest, tax, depreciation and amortisation jumped 75% to £0.82m, in contrast to £0.47m. In addition operating margins increased to 9.8% from 8.5% before goodwill.

John Harding, group finance director at Jelf, told PB: "When we buy a broker we can bring the acquired firm's commission levels onto ours. Insurers would prefer to deal with larger brokers because of the amount of administration involved." He added: "We have plenty of cash, and a good loan facility. There will be further deals soon".

In other news at the broker, Jelf's healthcare managing director Peter Elliott has resigned from the board with effect from 1 June, though he will remain in his day-to-day post. Jelf's commercial director Phil Barton takes his place on the board.

Software Solutions Partners said: "We will continue to support Jelf and Goss and wish them every success with their transition".

Professional Broking


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