– TIA Technology A/S (“TIA”) is the leading supplier of core policy administration software systems for the insurance industry
– TIA offers the industry’s most flexible and comprehensive integrated suite of core insurance applications for property/casualty and composite insurers.
– TIA has more than 60 customers and 100,000 daily users in 40 countries
– EQT is a leading private equity group in Europe with c.€18 billion in capital raised
– EQT focuses on buyouts, growth financing and infrastructure investments in Northern and Eastern Europe, Asia and the US
– EQT Mid Market fund seeks companies with strong market positions and growth potential in the middle market segment in Northern Europe, Greater China and Southeast Asia
– Approximately 75% of European Property & Casualty insurance companies currently run on legacy systems and there is a clear migration trend towards standardized systems in order to enhance efficiency and competitiveness and comply with increasing customer demands and regulations
– EQT identified TIA as a major player in the European insurance software market and a key beneficiary of the increasing trend of core policy administration platform replacement
– TIA’s software solutions enable their customers to execute operations faster and more efficiently significantly improving underwriting profit
– Partnering with EQT will allow TIA to further accelerate growth and innovation as well as expand its footprint across Europe, the US and Asia. Focus will also be on establishing a stronger local presence in key markets such as Germany and UK
– TIA engaged Arma to consider options that would allow it to continue scaling and become the dominant insurance software platform provider in Europe
– Arma contacted the most qualified buyers, including both trade and financial sponsors to determine interest in the business
– In parallel, Arma worked extensively with management to articulate the company’s growth strategy and corresponding financial plan
– EQT then emerged as the most attractive bidder for the business and Arma, together with the management team, consequently worked towards a very tight and compact timeline to complete the deal
– Overall, Arma Partners assisted the management and owners of TIA to realise their strategic objectives, drawing on Arma’s extensive experience in the European financial technology space and global cross-border relationships with the most qualified buyers, including EQT