Acturis Group Ltd, the leading UK insurance software as a service provider, today announced that it has acquired the premier motor insurance software provider in Germany, NAFI GmbH. The deal creates an international group with over 300 colleagues, installations in over 30 countries, and annual revenues of approximately £40 million.
Established in 1991, NAFI’s software covers the entire process from data collection, calculation and rate comparison to the electronic binding of policies for motor insurance policies. The company covers the complete product range of almost all motor vehicle insurers in Germany.
David McDonald, co-CEO at Acturis, says: “We are delighted to welcome NAFI into the Acturis Group. Germany is strategically the most important country for Acturis outside of the UK and the opportunity to build on our UK experience and innovate in Germany excites us greatly. We now have an excellent and well respected German division led by Ivana Höltring and her team who have built a leading range of products and services and established a real position of leadership in the German motor insurance market. Innovation has always been at the heart of the NAFI thinking, and we have a shared vision for how the insurance market and e-trading may develop in Germany. We want to support NAFI’s aspiration to be at the forefront of these changes, and we look forward to supporting them in their continued success.”
Ivana Höltring, Managing Director of NAFI says: “Over the years NAFI has established its position as the market leader in the electronic trading of motor insurance in Germany and we have grown consistently year-on-year based on that success. However, we recognised that we would benefit from external investment and support in order to move to the next level of innovation as greater electronic connectivity and new processes emerge in the German insurance market. In Acturis we have found a partner who has demonstrated deep expertise and innovation in the UK market where its software is used by many of the leading insurers and brokers. Acturis will also bring additional financial strength, skills, geographic presence and resources to support NAFI in its future investment and development.”