Acturis plans to “keep on with what we are doing in the UK” following news of its new investment.
In a statement to Insurance Times, Acturis co-founder and co-chief executive Theo Duchen said: ”It’s more of the same. Deepening our presence in both markets – Canada and France – and maybe one or two new geographies.”
Acturis now has more firepower to complete its objectives following existing private equity investor Astorg increasing its ownership stake of the insurance software house to over 50%.
On 2 July 2024, Astorg strengthened its partnership with Acturis and increased its investment to a 52% stake – up from its previous minority stake of 25%, which it acquired in March 2019.
Acturis said it would continue to partner with Astorg to support its clients and growth, while Astorg said it was keen to reinvest in Acturis after having worked with the firm for five years.
Duchen and Acturis’ second co-founder David Donald have remained significant shareholders of Acturis, with a sizeable minority stake.
Leading the charge
Duchen told Insurance Times that Astorg’s new investment “made a lot of sense” and “was a big deal for us”.
Referring to the UK market, Duchen noted that Acturis had seen “continual growth” that included lots of new users and eTrading expansion.
He added: ”That’s what the market needs, more eTrading and more digitalisation. We’re very fortunate as we pioneered [eTrading].
“We are at the coalface and in a good position to shape and lead the charge [on eTrading], making sure we can provide for our clients.”