Two French insurance technology firms, Prima Solutions and Effisoft, have merged.
Effisoft is a Paris-based international group that designs software for insurance and reinsurance professionals. The group specializes in reinsurance operations and regulatory compliance with Solvency II.
Prima Solutions provides software for property/casualty and life/health insurers. Its products are web-based, multilingual and delivered via SaaS mode, and address the entire life cycle of an insurance policy.
The merger produces one of the largest players in Europe, North America and the Asia-Pacific region with cloud-based solutions covering all areas of the insurance market. The consolidated group has more than 300 employees, more than 300 customers across five continents, and generates revenues of approximately €50 million, according to the announcement.
The merged group will continue to be led by Hugues Delannoy, CEO of Prima Solutions, and Julien Victor, CEO of Effisoft, with the support of The Carlyle Group as the majority shareholder.
Delannoy, said the two together can “target players of all sizes in the insurance and reinsurance markets.”
Victor said the groups are complementary in nature in terms of both customer-base and geographic implementation coverage.
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