Acturis Group, the leading Software-as-a-Service provider to the insurance industry, has announced another year of continued growth in 2019. Results for the financial year ended 30 September 2019 show revenues of £89.7m, an increase of 15.6% over the previous year.
David McDonald, Co-CEO commented:
“Following the replacement of our previous minority investor with Astorg Partners in May 2019, we are delighted to report another period of sustained growth in the year to September 2019.
COVID-19 is undoubtedly having a significant impact on the economy as a whole and the insurance industry in particular. Although we are not immune to the impact of the crisis, the Acturis Group is financially strong and well positioned strategically and operationally to weather the current storm. Our Software-as-a-Service model allowed us to seamlessly transition to remote working and to support our clients in moving their businesses smoothly to remote working. We are grateful for the extensive positive feedback we have received from clients for the continuity of service excellence we have delivered throughout the crisis.
We have continued to invest in our platforms and technology (£13.3m in 2019). This enables us to maintain our leadership in electronic trading, extend our support for mobile services, invest in the development of AI and Big Data services and support our clients in the transition to digital insurance. We have also further strengthened our position in the UK personal lines marketplace.”
Theo Duchen, co-CEO further commented:
“Another year of strong user and product growth across the group has delivered good results. Continued growth and acquisitions by existing clients were underpinned by the addition of many new clients such as DRP, Routen Chaplin, Guy Penn and Rees Astley from competitors. The Acturis platform now supports over 22,000 users with around 80,000 users worldwide across the group companies.
We successfully acquired Zycomp Systems in Canada last summer and have subsequently established a user base for the Acturis SaaS platform in North America alongside the existing PowerBroker user base. We also acquired Add Value Assurance, which is the leading commercial lines e-trade platform in the French market. We continue to be excited by the international opportunities available to us.
Looking ahead, our focus is on supporting our customers through the COVID-19 crisis and helping them transition their businesses into digitally enabled and efficient businesses, suitable for a different environment.”
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