Advised TIA Technology, the leading provider of core policy administration and claims software to the global insurance industry, on its sale to EQT
Jun 2014
acquired by
  • Sector: Fintech, WealthTech & InsurTech
  • Deal Type: Private Equity Deals
  • Engagement type: Buyside
  • Size: <$200m

Arma Partners is pleased to announce that it has acted as exclusive financial advisor to TIA Technology A/S (“TIA”) on its sale to EQT Mid Market from DKA Capital, a Danish private equity fund, and the founders.

TIA is the leading provider of proprietary core policy administration and claims software to the global insurance industry, with more than 60 customers and 100,000 daily users across 40 countries. TIA serves the €15 billion global Property and Casualty (“P&C”) software and services market with an end-to-end solution suite that is designed to meet the technological challenges of the rapidly evolving insurance industry.

This transaction demonstrates Arma Partners’ continued strength in Financial Technology and the firm’s ability to deliver highly successful outcomes for private equity-backed business.

– 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