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Ebix, a supplier of on-demand software and e-commerce services to the insurance industry, announces that it has acquired London-based TriSystems Ltd., an online insurance trading hub that facilitates commercial insurance and reinsurance transactions between London intermediaries and insurance companies. The TriSystems products and services will now become a part of the EbixExchange division of Ebix Europe. Ebix expects the transaction to be immediately accretive to Ebix earnings per share (EPS). Ebix disclosed that it funded this transaction completely in cash. No Ebix shares were issued and no investment bankers were involved in the transaction. The TriSystems SaaS platform communicates electronic endorsements and placements with underwriters using ACORD messaging over the Lloyd's Exchange together with A&S (Accounting and Settlement) and ECF (Electronic Claims File) via the Insurance Market Repository. All functions are accessed through a single user portal on the Internet. The TriSystems products and services enable communication between underwriters and brokers using the ACORD XML messaging standards, together with other UK and worldwide messaging standards like EDI and XML. Want to continue reading? |
Ebix Acquires Reinsurance Trading Hub TriSystems
Ebix, a supplier of on-demand software and e-commerce services to the insurance industry, announces that it has acquired London-based TriSystems Ltd., an online insurance trading hub that facilitates commercial insurance and reinsurance transactions between London intermediaries and insurance companies. The TriSystems products and services will now become a part of...
