Following the merger between Prima Solutions and Effisoft, the group, which is a global insurtech that designs software solutions for insurance and reinsurance professionals in North America, Europe, and Asia-Pacific, is continuing its growth strategy with the acquisition of the Belgian company Ooliba, which specializes in actuarial solutions and regulatory compliance. This acquisition consolidates the group's position in Europe, particularly in Belgium and Luxembourg, while strengthening its modular cloud based offering.
As the exclusive distributor of Ooliba in France since 2012, Effisoft offers a unique global solution available in the cloud that meets the requirements of Solvency II. Integrated into the Solvency II software suite, Ooliba enables insurance professionals to undertake a full range of actuarial calculations, while providing full traceability and auditability of their data, from SCR calculation to regulatory reporting.
Over the years, and thanks to its in-depth regulatory expertise, Ooliba has built up a solid network of clients in Belgium, Luxembourg and France, with over thirty companies including both insurance companies and consulting firms. The acquisition of Ooliba further strengthens the group's leadership in the regulatory market and consolidates its offering by expanding the customer base to the Belgian and Luxembourg markets.
"Effisoft has been Ooliba's preferred partner for several years. The integration of Ooliba's actuarial expertise into the new group is a natural shift that will generate further commercial synergies by offering a fully integrated global solution to insurance professionals. In addition, this acquisition supports our international ambitions as we are integrating significant new business references in Europe," stated Julien Victor, the Group's CEO.
Jean-Louis Herman, CEO of Ooliba, added: "We are delighted to join the group formed by Prima Solutions and Effisoft and to formalize several years of close collaboration. This acquisition will enable us to promote innovation through greater R&D resources, and to consolidate our actuarial offering".
The consolidated group has 400 employees worldwide serving more than 300 customers across five continents. This acquisition is in line with Prima Solutions Group's growth strategy, following the merger of the two entities in December 2018 with the support of the leading shareholder The Carlyle Group.