Prima Solutions and Effisoft Announce Their Merger to Bolster Global Leadership in Providing Insurance Solutions
As part of their continuing growth strategies, Prima Solutions and Effisoft announce their merger to create a global InsureTech company. This merger between Effisoft, the leading vendor of reinsurance and regulatory software solutions for insurance and reinsurance companies across the globe, and Prima Solutions, one of Europe’s leading software provider for Life, Health, and P&C insurance companies, will produce one of the largest and most comprehensive players in Europe, North America, and the Asia-Pacific region with cloud-based solutions covering all areas of the insurance market.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20181217005249/en/
This merger, concluded on December 13, will enable both groups to accelerate their development in the P&C, health and personal protection insurance markets. This merger is part of an ambitious and coherent growth strategy: it completes Prima Solutions' and Effisoft's existing product range, diversifies the customer base and strengthens the group's international positioning.
The transactional and analytical offerings of Prima Solutions and Effisoft, available in the cloud, now cover all insurance processes end-to-end: Life, Non-Life, reinsurance, regulatory reporting, and analytics (including predictive simulations and actuarial calculations).
“This merger of two key players is a major step for both our organizations; it broadens our customer base and our international footprint, thanks to a global offering that covers all the core business digitalization needs of our customers we now have further opportunities for growth across the board. This offer, available in the cloud and billable upon use, effectively targets players of all sizes in the insurance and reinsurance markets,” stated Hugues Delannoy, CEO of Prima Solutions.
Julien Victor, CEO of Effisoft, added: “The proliferation of High Tech and regulatory evolution are inevitable in the insurance market. This merger enables us to become the first player to provide a 100% digital solution that addresses the overall business needs of the industry. Moreover, our groups are complementary in nature in terms of both customer-base and geographic implementation coverage, and together we will share more than 20 years of experience in building comprehensive business software solutions for the insurance industry.”
Following this merger, the group will continue to be led by Hugues Delannoy and Julien Victor, with the support of The Carlyle Group as the majority shareholder.
The consolidated group has more than 300 employees, servicing more than 300 customers across 5 continents, and generates revenues of approximately €50 million.
Effisoft is a Paris-based international group that designs software solutions for insurance and reinsurance professionals. The group specializes in optimizing reinsurance operations and regulatory compliance with Solvency II.
About Prima Solutions
Prima Solutions provides P&C and L&H insurers the Prima Insure™ software platform to become a leader in insurance innovation. 100% web enabled, multilingual and delivered via SaaS mode, its addresses the entire life cycle of an insurance policy.
About The Carlyle Group and Carlyle Europe Technology Partners
The Carlyle Group (NASDAQ: CG) is a global alternative asset manager with $212 billion of assets under management across 339 investment vehicles as of September 30, 2018. Carlyle Europe Technology Partners (CETP) seeks to invest in European technology, media and telecommunications (TMT) companies. CETP’s European team of advisors provides strategic direction and resources to help accelerate the growth of companies in which CETP has invested and to support their efforts to expand internationally and to open up new market opportunities. The current fund is now the fourth one in the CETP franchise. In total, more than 143 investors from 34 countries have made commitments to CETP funds.
+33(0)6 66 58 81 92
For more than 50 years, Business Wire has been the global leader in press release distribution and regulatory disclosure.
Tilaa tiedotteet sähköpostiisi
Haluatko tietää asioista ensimmäisten joukossa? Kun tilaat mediatiedotteemme, saat ne sähköpostiisi välittömästi julkaisuhetkellä. Tilauksen voit halutessasi perua milloin tahansa.
Lue lisää julkaisijalta Business Wire
Axonics® Announces U.S. Food & Drug Administration Approves Use of Full-Body MRI for Pivotal Study Patients18.6.2019 13:00:00 EEST | Tiedote
Axonics Modulation Technologies, Inc. (NASDAQ: AXNX), a medical technology company focused on the development and commercialization of novel implantable sacral neuromodulation (“SNM”) devices for the treatment of urinary and bowel dysfunction, today announced the U.S. Food & Drug Administration (“FDA”) approved the use of full-body magnetic resonance imaging (“MRI”) using 1.5 Tesla MRI scanners for clinical study patients implanted with the Axonics System. The approval was a result of a supplement filed by Axonics with the FDA under the Investigational Device Exemption (“IDE”) regarding the Company’s ARTISAN-SNM 129-patient pivotal clinical study. The FDA concluded that Axonics provided sufficient data to support full-body MRIs. Raymond W. Cohen, CEO of Axonics, commented, “Allowing full-body MRI scans for our clinical study patients means that none will have to undergo an explant of their neurostimulator device should they require an MRI. We view this as a very positive step by the FD
Norsk Titanium Receives Airbus Contract for Qualification and Production18.6.2019 13:00:00 EEST | Tiedote
Officials with Norsk Titanium (Norsk) announce today a contract award from Airbus for the Qualification and Serial Production of the first parts to be manufactured utilizing wire-based Direct Energy Deposition (DED) additive manufacturing technology. “We have worked closely with Airbus over several years to demonstrate the technological maturity and the industrial readiness of our Rapid Plasma Deposition™ (RPD™) process,” said Norsk President and CEO Michael Canario. “This contract award is structured to enable long-term, serial production immediately following qualification. Our Plattsburgh, New York facility, with the assistance of Airbus technical leadership, has been preparing for this moment and is eager to demonstrate a 21st century advanced additive manufacturing capability.” This qualification of Airbus parts will demonstrate the suitability of the DED additive manufacturing process for aircraft structural parts. It will formalize the process by which individual parts are produ
Innovusion Announces Its High-Resolution Image-Grade LiDAR System “Cheetah”, Enabling the Safest Performance in the Vehicle Mobility Industry18.6.2019 12:00:00 EEST | Tiedote
Innovusion Inc., the worldwide leader in the design and development of innovative hybrid Solid State LiDAR systems for vehicle safety applications, has announced the availability of its Cheetah system. Based on its innovative rotating polygon optical architecture, Innovusion has melded together proprietary detector electronics, advanced optics and sophisticated software algorithms to offer a system that has no equal in the long-distance, high-resolution LiDAR vehicle mobility system industry. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20190618005066/en/ Innovusion's Cheetah long-distance LiDAR System...the safest in the mobility safety industry (Graphic: Business Wire) Smart architecture, streamlined optics design, and integrated optical paths result in rapid manufacturing, scalability into automotive production, and lower cost. The ability to provide a detection range of 200 meters on objects with 10% reflectivity and cle
You Bank the Digital Asset Banking Platform Presents at UNCHAIN 2019 in Berlin18.6.2019 11:25:00 EEST | Tiedote
The Blockchain Conference UNCHAIN 2019 was held in Berlin, Germany, from June 14 to 15, 2019. You Bank, a digital asset banking platform, attended and delivered a speech at the conference. You Bank has henceforth made a brilliant appearance in the European market and officially opened the prelude of the global layout! You Bank’s Digital Asset Banking Platform, the Federal Reserve of the Digital World You Bank, a world-class multinational blockchain financial service platform, is a well-deserved global leader in the field of digital asset management. Headquartered in Singapore, You Bank was founded by the Richmond family, one of the nine Jewish families known as the "Rothschild" family in the digital world. You Bank Global CEO Daniel attended and delivered a speech at the conference. He introduced that the original intention of You Bank was to establish a digital bank which could operate world-widely in the digital economy era. You Bank will cover digital asset management, digital asset
Norsk Titanium Marks Milestone in Additive Manufacturing18.6.2019 11:00:00 EEST | Tiedote
Officials with the University of Notre Dame Turbomachinery Laboratory (NDTL), Norsk Titanium (Norsk), Pratt & Whitney and TURBOCAM International announce the continuation of testing of an additively manufactured integrally bladed rotor (IBR). Building on initial testing completed in 2018, this next phase of testing examines the dynamic properties of the IBR. Manufactured using Norsk’s revolutionary Rapid Plasma Deposition™ (RPD™) process, the IBR was inspected to the same quality specifications used in Pratt & Whitney’s current turbomachinery components. The tests are being conducted at NDTL’s world-class turbomachinery test facility in South Bend, Indiana. After completion of the initial testing, where the IBR met 100% of all design, speed and pressure ratio test points, the current test program looks at low and high cycle fatigue characteristics of the IBR. Testing will include multiple acceleration/deceleration cycles and investigate synchronous vibration effects on the additively m
Hansol Paper and Iconex Announce Mutual Decision to Withdraw from Agreement Governing Sale of Schades and R+S to Iconex18.6.2019 11:00:00 EEST | Tiedote
Iconex and Hansol Paper announced today that the companies are withdrawing from their definitive agreement signed November 2, 2018, under which Iconex would have acquired Schades and R+S from Hansol Paper. This decision, reached by mutual agreement between the parties, is due to the ruling of The United Kingdom’s Competition and Markets Authority (CMA) to move the approval process for this transaction to Phase 2. This allows the UK CMA an additional six months to reach a decision, which was deemed to be too long of a delay by both parties. The parties believe that the proposed transaction met the relevant legal criteria for approval in the UK, and that it was in the best interests of our customers, employees and the marketplace in the United Kingdom and beyond. This UK CMA decision was unexpected by both parties given that the European Commission cleared the deal earlier this spring. Like elsewhere in Europe, the UK market is highly competitive with a significant number of players. “Th
Uutishuoneessa voit lukea tiedotteitamme ja muuta julkaisemaamme materiaalia. Löydät sieltä niin yhteyshenkilöidemme tiedot kuin vapaasti julkaistavissa olevia kuvia ja videoita. Uutishuoneessa voit nähdä myös sosiaalisen median sisältöjä. Kaikki STT Infossa julkaistu materiaali on vapaasti median käytettävissä.Tutustu uutishuoneeseemme