Ebix Annuity Exchange Closes 2023 with Record Annual Volumes of $118 Billion

Record Numbers Reported Both in December 2023 and Q4 of 2023

JOHNS CREEK, Ga., Jan. 04, 2024 (GLOBE NEWSWIRE) -- Ebix, Inc. (OTC: EBIXQ), a leading international supplier of On-Demand software and E-commerce services to the insurance, financial, healthcare, and e-learning industries, announced today that its Annuity Exchange AN4 has reported record volumes in the last quarter of 2023, besides reporting a record performance for the full year of 2023.

Ebix’s AN4 Annuity exchange is an integral key part of Ebix’s North America Life & Annuity Division, that includes other assets like LifeSpeed, the industry leading Order Entry platform; WinFlex, a market-leading multi-carrier illustration tool used by over 35 carriers and more than 275,000 users; TPP (The Policy Processor), an industry leading underwriting platform; and SmartOffice, an insurance vertical driven CRM tool used by more than 35,000 agencies and advisors.

AN4 is the Annuity industry’s largest exchange representing over 60% of all electronic annuity transactions. The exchange connects the industry’s distributors and annuity manufacturers to seamlessly enable end-to-end annuity sales. AN4 also serves as a one-stop-shop to integrate with industry partners: including Cannex, Envestnet, Docupace, RegEd, DocuSign, OneSpan, DTCC and others. Ebix reported record numbers in many areas in the year 2023:

1. December 2023 Premium and Transactional Volumes were up 37% and 33% respectively compared to December 2022.
2. Total 2023 annuity premiums processed on the platform was approximately $118 billion, the highest ever since inception in 1997, representing an approximately 21% increase over 2022.
3. Total exchange transactions for 2023 reached 658K, representing a 12% increase over 2022 - representing the highest volume recorded since inception in 1997.
4. The number of distributors and carrier manufacturers on the exchange continues to expand and is now at the highest level ever. There are now over 140 distributors online and 62 carrier manufacturers on the exchange.
5. The total number of products supported on the platform increased 11% and exceeded 2,700.
   

Robin Raina, President and CEO, Ebix, Inc. said, “Ebix has pioneered the concept of straight through processing in the areas of Annuity sales. We have seen the industry evolve over the years and are quite proud of our leadership role in moving the industry forward. 2023 is a momentous year for Ebix in the area of Annuities, with our Annuity Exchange AN4 reporting approximately $118 billion in premiums processed. I congratulate our Annuity Division employees for this record performance.”