Dublin, Ireland, 18th August 2011. Exaxe, the specialist IT solutions provider for the Life and Pensions industry, today announced a 30% increase in revenues for the year ending 2010 and its plans to expand the business with the generation of 20 new jobs over the next two years.
This revenue growth reflects the continued success of Exaxe’s innovative component based solutions for the Life, Pensions and Wealth Management sector. In 2010 Exaxe secured a contract with Capita the leading BPO provider in the United Kingdom to licence Illustrate Plus® to provide full new business and existing business illustrations support for all of the books of business administered by Capita, and will, upon completion of this programme be used to support in excess of 25% of all Life and Pensions policies in the United Kingdom.
During 2010 Exaxe embarked on a market expansion programme into Canada, Australia, New Zealand and the Nordics and is currently engaged in detailed discussions with a number of potential clients in these markets. Throughout 2010 Exaxe also continued to expand its offering through on-going development of its other software components and utilities with:
- The launch of their new generation testing utility Touchstone Plus (bringing their existing Test harness and Test Manager into a single solution)The release of their upgraded configuration tool Product Development Plus 2
- The implementation of the RDR regulatory requirements across all components
Philip Naughton, Exaxe’s executive business development director added, “We are delighted with our performance over the last twelve months as it reaffirms our business strategy and provides the platform for our planned future growth and expansion into new markets. We are particularly delighted with this growth in revenues and opportunity to create new jobs in the current economic climate which has been challenging; it proves that there is always an appetite for innovative business solutions especially where they have a proven track record of being cost effective and delivering significant business efficiencies.”
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