Acturis Acquires Nordic Insurance Software

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,”

About Acturis
Acturis is a leading, award winning Software as a Service provider to the insurance industry and has grown at more than 30% per year over the last 5 years.

The Acturis System is an administration, distribution and underwriting platform used by insurance brokers and underwriters which has been live since 2002 and now has more than 10,000 users across over 400 UK sites.

Acturis operates in the general insurance market, supporting both personal and commercial lines. The company leads the way in real-time integrations with insurers and has won industry Service Provider of the Year awards in 2006, 2007, 2009 and 2010, and the British Insurance Technology Award in 2011.

Acturis has been profiled in the Sunday Times Tech Track 100 and Buyout Track surveys for three consecutive years running due to its rapid growth. Acturis was awarded the Queen’s Award for Enterprise in 2012 and most recently, Acturis was named Company of the Year – Mid Sized at the prestigious Growing Business Awards 2013 and was one of the first 25 high growth companies to be invited onto the Government’s Future Fifty programme.

The Acturis philosophy is to deliver against its promises. http://www.acturis.com

About NIS
Nordic Insurance Software (NIS) was founded in 1996 and is headquartered in Copenhagen, Denmark.

With an extensive IT background gained from their experience in the travel and insurance industries, the founders designed the first interactive travel insurance application in 1997. This application soon gained considerable market share in the Scandinavian countries - Denmark, Norway, Sweden and Finland. NIS now has installations in over 30 countries across the globe.

NIS has an AAA rating from Dun & Bradstreet and is listed under D-U-N-S no.30-550-1330.

http://www.nordicinsurancesoftware.com

SOURCE: Acturis