GlobeNewswire | October 21, 2020
Cegedim Insurance Solutions, a leading provider of software and services for the global health insurance markets, is proud to announce that Global Benefits Group (GBG) has gone live worldwide with Actisure, Cegedim Insurance Solutions award-winning health, protection and travel insurance policy & claims management system.
The first phase was achieved with a rapid and agile-based implementation. The second phase extended the Actisure implementation to GBG’s global enterprise. With offices in India, Europe and the United States all converting from the company’s legacy system to Actisure, the second phase required a true global initiative that involved cross-functional resources from both organizations. GBG took Actisure’s ‘self-sufficiency’ model to heart – by the time the system went live, GBG personnel were fully trained in Actisure and took on the role of Subject Matter Experts for Actisure at GBG.
MDS Group | December 24, 2021
The Ardonagh Group today announces that it has agreed to acquire MDS Group, a leading insurance broker and risk management advisor across the Portuguese-speaking world and Europe.
Headquartered in Porto, Portugal, MDS has offices in Brazil, where it is the country's largest independent broker, as well as Angola, Mozambique, Spain, and Malta. It is the only Portuguese Lloyd's Broker.
MDS employs 900 colleagues and recorded revenue of €74.8 million (£65 million) in the 12 months to 30 June 2021. MDS manages over €500 million in insurance premiums for 1.2 million private and corporate clients each year.
Ardonagh intends to fund the acquisition with a combination of equity and debt. MDS will be acquired by Ardonagh Overseas Investments Ltd and operate as part of Ardonagh Global Partners.
In addition to its core broking operations, spanning property & casualty, health, retail and wholesale, MDS operates Highdome PCC in Malta, offering sophisticated alternative solutions to the traditional insurance market including captive and reinsurance solutions to large clients. Completing MDS' offering is Risk Consulting Group (RCG), a multinational risk management consultancy.
MDS is also the founding member and a shareholder of Brokerslink, a network of brokers and speciality risk and consulting firms operating in 122 countries.
Upon completion, Ardonagh Global Partners will acquire 100% of the issued shares of MDS from its two shareholders, Sonae Group and IPLF Holding. The management team led by MDS Group Global CEO José Manuel Fonseca will remain with the business and continue to lead an expansive growth plan in all of the MDS territories.
"Having considered our future very carefully, we saw in The Ardonagh Group and its leadership a perfect match for our vision and growth ambitions. We are incredibly excited to be joining forces with a global independent group with Ardonagh's scale and dynamic culture. With access to Ardonagh's considerable resource and capital, we look forward to accelerating our organic and inorganic growth plans."
-José Manuel Fonseca
Ardonagh Global Partners was launched in January 2021 to invest in best-in-class businesses and management teams around the world and in turn support their growth ambitions.
It is a great privilege to partner with a distinguished and high-profile broking platform such as MDS. Jose Manuel together with his experienced and high calibre management team have developed a world class reputation for client service, innovation and professionalism, delivering outstanding service to their clients for over 30 years.
-Ardonagh Global Partners CEO Des O'Connor
THE ARDONAGH GROUP
The Ardonagh Group is the UK's largest independent insurance distribution platform and a top 20 broker globally. We are a collection of best-in-class entrepreneurial and specialist brands with a network of more 100 locations and a combined workforce of more than 8,000 people. Across our portfolio, we offer a highly diversified range of insurance-related products and services across the full insurance value chain in the UK, Ireland and broader international markets. From complex multinational corporations to individuals purchasing personal insurance policies, our understanding of the communities we serve, together with our scale and breadth, allows us to work with our insurer partners to deliver a broad range of product and risk solutions that meet customer needs.
MDS is a multinational group doing business as an insurance and reinsurance broker and risk consultancy, with a presence in over 125 countries. MDS is a market leader in Portugal, one of the largest players in Brazil and Angola, and maintains a direct presence in Mozambique, Spain, Malta, and Switzerland. Through Brokerslink, a global brokerage firm founded by the group which relies on 21,000 insurance professionals, it addresses customers' needs across multiple geographies and sectors. The group includes MDS RE, a reinsurance specialist doing business in Europe, America and Africa, and RCG — Risk Consulting Group, a leading firm in risk analysis, loss control, business continuity plans and enterprise risk management. Through HighDome, a Protected Cell Company (PCC), MDS offers risk transfer solutions that function as an alternative to the traditional insurance market. MDS also works with benefits management and flexible benefits through the companies 838 Soluções (Brazil) and Coverflex (Portugal).
Trust Insurance Cyprus, eBaoTech | February 09, 2021
eBaoTech Corporation (eBaoTech), declared that Trust Insurance Cyprus, an auxiliary of Trust Holding, effectively dispatched, on January 17, 2021, eBaoCloud® DigitalCoreTM (DigitalCore) underway for start to finish life cycle tasks of its general insurance business, supplanting an inheritance framework that has been being used for quite a long time. Since its dispatch, the new stage has been working easily with solid client fulfillment and activity effectiveness help.
Settled in Cyprus, Trust Holding, a completely claimed element of Nest Investments Holding, is a main territorial insurance bunch with business in excess of 7 nations across Middle East, North Africa and in Cyprus. Trust Holding chosen DigitalCoreTM for framework modernization, to expand its business readiness, availability/advancement abilities and activity effectiveness in the computerized age. eBaoCloud® DigitalCoreTM is intended for advanced insurance with solid network and API directions. Its fruitful dispatch gives a solid stage to Trust Insurance Cyprus to quicken its advanced change.
Marwan Bataineh, Group Chief Technology & Information Officer of Nest Investment Holding commented, "We are so excited that the new digital platform went live during these exceptionally circumstances and challenges we are facing from the COVID-19 pandemic. The teams from Trust in Cyprus and Jordan, and eBaoTech in Shanghai and Wuxi had to collaborate and work remotely through the whole year with a 6 hour time difference. I am so glad that with the strong support from our Board of Directors, our management team and the dedication and professionalism of the joint teams, we successfully launched the new digital platform as a backbone to enable our innovations and growth. We look forward to the implementation of DigitalCore to all insurance subsidiary companies of Trust Holding Group".
Christos Christodoulou, CEO of Trust Cyprus added, "We want to express our great appreciation and respect to eBaoTech's team for their professional and methodical approach to make this project a success. Their commitment and dedication was remarkable and beyond our expectations. With the new policy admin platform in place, we are now able to offer a better service to our Agents and Customers. We now have much stronger connectivity capabilities to increase our services and user experience to our agents and policy holders. We feel that with a strong technology partner such as eBaoTech we will maintain and increase our leading position in the new technological era."
Kamel Abunahl, CEO of Trust Holding highlighted, "This is a big success for both organizations and a great team work. We are glad of our decision to choose eBaoTech as our long-term partner for the transformation of our Group Insurance companies into the new digital era. Today, by using eBaoTech's DigitalCore, we have one more tool to enable the Group Companies to advance further faster with better controls. This is the first step of a long journey and future cooperation with eBao".
About Trust Insurance Cyprus
Trust Insurance Cyprus provides optimum insurance services on an international level for over a decade.
Since August 2009, it has extended its dynamic presence in the Cyprus Market with a capital in excess of € 8.000.000, residing in the top tier of the industry. The company's successful growth is a motivation for significant future movements in creating innovative ideas as to become one of the leading insurance companies within the Insurance Industry.
About Trust Holding
Trust Holding was founded in 2007. It has set its vision to focus on growing its role and relationship with its subsidiaries to being an active support hub helping respecting operations to enhance their economic value in their respective markets on local and global views. Trust Holding have presence in the MENA region, North Africa and Europe such as Algeria, Palestine, Lebanon, Yemen, Iraq and Cyprus.
eBaoTech® is a technology solution provider for global insurance industry. Our mission from start is to "make insurance easy". We have business in more than 30 countries across all continents, serving numerous insurers, agents, brokers, InsurTech startups and others in the insurance ecosystem. eBaoTech offers two groups of solutions: eBao® Cloud including SaaS and PaaS solutions and eBao® Software for traditional insurance carriers' core systems.