Zinnia Closes Acquisition of Ebix’s North American Life and Annuity Assets
The deal further positions Zinnia as a partner of choice in the life and annuity industry and expands its offerings with insurance focused CRM & agency management, market-leading research, quoting, illustration, order entry tools, and a comprehensive underwriting platform, which will simplify experiences for advisors and their clients. Zinnia will be welcoming over 770 new team members across 6 locations in
The L&A assets, including SmartOffice, Vital Sales Suite, Winflex, AnnuityNet, LifeSpeed, TPP (The Policy Processor), as well as products and services provided by the consulting organization will become a newly formed business line within Zinnia called Life and Annuity Exchange Solutions.
Global operations across the L&A Assets will be uninterrupted for customers and partners, providing continuity for the life insurance and annuity ecosystem. The acquisition will further enable Zinnia to better serve carriers, distributors, and consumers as it builds the modern rails of the insurance industry.
Advisors
Milbank LLP served as Zinnia’s legal counsel alongside banking advisors RBC Capital Markets, LLC and Citigroup Global Markets Inc.
C Street Advisory Group, LLC and Prosek Partners served as communications advisors to Zinnia.
Ebix was represented by Sidley Austin LLP as legal counsel, AlixPartners, LLP and Huron Consulting Group served as financial advisors, and Jefferies LLC as its investment banker.
About Zinnia
Zinnia, an Eldridge Industries business, simplifies insurance. Delivering comprehensive solutions for the industry’s most critical needs and creating the modern rails of the insurance industry, Zinnia better enables carriers and advisors to build, sell, and service insurance, ultimately helping more people get the coverage they need and the service they deserve. Zinnia is also backed by funds managed by KKR, a leading global investment firm.
To learn more about Zinnia, please visit https://zinnia.com/.
About Ebix
With approximately 200 offices across 6 continents, Ebix, Inc., (NASDAQ: EBIX) endeavors to provide on-demand infrastructure exchanges to the insurance, financial services, travel and healthcare industries.
With a "Phygital" strategy that combines over 650,000 physical distribution outlets in
For more information, visit the Company's website at www.ebix.com
View source version on businesswire.com: https://www.businesswire.com/news/home/20240401235349/en/
Media Contacts
Zinnia:
Prosek Partners
pro-zinnia@prosek.com
Ebix:
Satish Sapru
satish.sapru@Ebix.com or IR@ebix.com
Source: Zinnia Corporate Holdings