New Zealand Acquisition Expands Sirius Presence in Global Broker Market

Sirius Financial Solutions, a specialist supplier of software and services to the insurance and financial services industry, has acquired a majority share in New Zealand-based Datasure Management Systems Ltd.

“This acquisition reaffirms Sirius’s strategy to expand its presence in the global insurance broking market, specifically in the Australasian region,” said the bulletin. “Sirius aims to introduce its market leading products into the market through the Datasure customer base.”

Founded 18 years ago, Datasure has a long-standing and extensive customer base with over 1,000 users supplying proprietary software package to predominantly New Zealand based insurance brokers.

The minority shareholders, Vero Insurance New Zealand Ltd. and IAG New Zealand Ltd., will remain as 12.1 percent shareholders respectively. They are two of the major insurance companies in the region, and have backed Datasure since its founding.

Sirius’ Chairman & Group CEO Stephen Verrall commented: “Sirius and Datasure are complementary businesses operating in an increasingly global market for software solutions to the insurance industry. This acquisition represents another significant milestone for Sirius reconfirming our commitment to both the NZ and Australian regions where we believe there is considerable growth opportunity for both our broking and insurance products.”

Datasure’s Managing Director David Lee indicated: “Sirius provides Datasure and its staff a continuity and commitment to its markets and customers whilst at the same time providing us with the capability to deliver solutions to a potentially far broader customer base. Our existing clients will benefit from new products and services provided by the enlarged group.”

Topics Mergers & Acquisitions Agencies