Acturis, the leading Software as a Service provider to the insurance industry, has announced another year of strong growth in 2018. Results for the financial year ended 30 September 2018 show revenues of £79.8m, an increase of £17.7m (or 28%) over the previous year.
Theo Duchen, co-CEO of Acturis commented:
“Even against the backdrop of a challenging economy, Acturis has continued its run of double-digit revenue growth. This is the result of continued broker wins and market expansion including the migration of Towergate, the biggest software house move the market has seen for several years, as well as numerous significant broker wins from across the software house market such as Griffiths & Armour, UK Global, Mason Owen, Bollington Wilson Group, Bruce Stevenson and independent broker Willis Insurance and Risk Management. These new contracts have resulted in us breaking through the 20,000 user milestone, reflecting our strong position in the market.
The major investment in our personal lines proposition continues to pay off whilst our expansion into mid-market underwriter tools and complex e-trade is giving our insurer and MGA clients capabilities not seen elsewhere in the market. The robustness of our e-trade, extranet and multi-channel distribution solutions is also demonstrated by our 1st position across the board of software house categories and our supply of the underlying technology to vast majority of the leading Insurer extranets in the latest Insurance Times E-Trading Survey.
We look forward to delivering on a strong pipeline across the spectrum of Brokers, Insurers and MGAs, which will continue to support growth and deliver value to our clients and partners over the next 12 months.”
David McDonald, Co-CEO further commented:
“Once again we have maintained our strong financial performance and strategic position thanks to continual investment in our team, products and services. Our R&D investment increased year on year to nearly £14m. This constant focus on improved functionality and infrastructure allows us to deliver best-in-class availability, scalability and reliability.
During the reporting period, we continued expanding our presence both within and outside the UK. Since joining the Acturis Group in November 2017, ICE InsureTech has delivered excellent sales results under our ownership, while NIS continues to lead the travel and assistance and international health segments. We have also integrated our German portfolio and started the move to cloud, reinforcing our position as the leader in broking software in the German market. At the same time, our first broker in the Caribbean highlights the success of our international expansion strategy.
Looking ahead, we are well-positioned for the future, with the recent change in minority investor to Astorg supporting further international organic development and acquisition opportunities.”
For further information please contact:
- Jeff McCracken at Acturis: jeff.mccracken@acturis.com or 07826 909 263
- Theo Duchen at Acturis: theo.duchen@acturis.com or 020 7079 4000