Enlarged group set for next stage of global expansion
LONDON, UK – Acturis Group, an award-winning provider of insurance technology solutions, announced today that it has acquired Nordic Insurance Software (NIS), a market leading provider of insurance software in the travel and assistance, expatriate and health insurance markets providing services to clients in over 30 countries.
Acturis, founded in 2000 and headquartered in London, is a leading Software as a Service (SaaS) vendor, providing technology solutions to general insurance brokers, underwriters and affinity networks in the UK and internationally. Acturis’ administration, underwriting and trading platform is used by more than 10,500 users across 400 sites processing in excess of £4 billion of Gross Written Premium annually. Acturis has grown at 30% per year over the last five years and the company’s customers include Allianz, Axa, Aviva, Direct Line Group, QBE, RSA, LV=, AIG, AJ Gallagher, Jelf, Bluefin, Oval, Swinton, Marsh and Willis.
Founded in 1996, NIS is headquartered in Copenhagen with installations Worldwide. The NIS application is considered the market leading platform in the travel and assistance, expatriate and health insurance markets and NIS’s growth reflects this, with a compound revenue growth rate of some 59% per annum over the last three years. NIS customers include Zurich, Munich RE, Gouda, RSA, Global Excel, CEGA and the Canadian Automobile Association. Its solutions are active in over 30 countries across the globe. NIS’s founders and management, will continue to be significant shareholders in the enlarged group and will continue to have a major ongoing involvement in the group.
David McDonald, co-CEO of Acturis comments: “We have been actively engaged in expanding our footprint beyond the UK for some time and we believe that the combination of Acturis and NIS will provide us with new and exciting international growth opportunities. Almost all of NIS revenues are generated outside the UK and this acquisition puts the enlarged Acturis Group in a position where a significant portion of the Group’s revenue is derived outside of the UK. Given our international expansion plans, we expect this to grow over time.”
Theo Duchen, co-CEO of Acturis adds: “We are very excited to welcome Claus Tophoej and his outstanding team into the enlarged Group as we embark on this exciting next chapter of our development. Both companies have a track record of growth and innovation in their respective markets and this bodes well for the combined Group.”
Claus Tophoej, CEO of NIS adds: “We are extremely pleased to join the Acturis Group and we feel that the combination of NIS and Acturis can have a significant impact on the global Insurance Software landscape. Together we have a significant pool of talented colleagues and an exciting portfolio of leading growth platforms within the group targeting different segments. We look forward to working closely with David, Theo and the entire management team to build the pre-eminent global vendor of insurance technology,”