Zinnia — a giant monetary know-how agency with assist from a big funding agency — has acquired chapter courtroom approval to purchase the life and annuity belongings of Ebix.
The most effective recognized Ebix life and annuity asset is AnnuityNet, an an annuity distribution system that competes with Roper Applied sciences’ iPipeline system and Hexure’s FireLight system for annuity orders.
AnnuityNet was created in 1997 by a gaggle of insurance coverage corporations and funding corporations.
Ash Sawhney, the president of the Ebix Insurance coverage Options North America unit, plans to maneuver to Zinnia with the Ebix life and annuity operations. He stated the Zinnia acquisition is a superb final result for these operations.
“Zinnia has a transparent imaginative and prescient for the longer term,” Sawhney stated.
What it means: The methods you utilize to supply purchasers life insurance coverage insurance policies and annuities might have extra options and work higher.
Zinnia: Zinnia is a Greenwich, Connecticut-based know-how firm that after was generally known as SE2. It was shaped from the know-how companies assist arm of Safety Profit with backing from Eldridge, a Greenwich, Connecticut-based funding firm that additionally owns companies like Dick Clark Productions, Billboard and The Hollywood Reporter.