Itello invests in Norway by acquiring Eikos AS

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21 August 2019
Stockholm, Sweden

Eikos - specialists in Norwegian pension amd life insurance

ITELLO AB INCREASES ITS INVESTMENTS IN NORWAY AND ACQUIRES EIKOS AS

Itello AB, a leading insurtech company in the Nordic region developing Policy Administration Systems and digital solutions for the life insurance and the pension industry is acquiring Eikos AS, which provides services and PAS for the life insurance and pensions industry in Norway.

Itello AB is acquiring Eikos AS as part of its international expansion. This will enable Itello to strengthen its position in the Norwegian market and, together with Eikos, offers comprehensive software solutions and strong deliverability on the Norwegian life insurance and pensions market. Eikos have strong expertise in actuarial services, consultancy services and systems solutions for the Norwegian insurance market, which ensures good access to professional resources in upcoming projects in Norway. As part of Itello's expansion, the Inca standard software will be adapted to meet Norwegian requirements and needs, and become Itello's prime solution for the Norwegian market.

'The acquisition is in line with our strategy and will accelerate our international expansion. The life insurance and pensions industry in Norway will be facing a number of challenges in the coming years, which means there is a high demand for the ability to combine a highly efficient business with good innovation potential. With Eikos' expertise, we will be strengthening our competitiveness on the Norwegian market and expanding Itello's opportunities' says Mats Lillienberg, CEO of Itello AB.

The acquisition of Eikos will give Itello access to expertise within actuarial skills, administration and systems development for Defined Benefit pension and life insurance in Norway. Eikos provides services and systems solutions to the life insurance and pensions sector in Norway and, in combination with Itello's solutions and expertise in Defined Contribution pension, we will be strengthening our capacity and competitiveness considerably. Eikos will be part of a large and expanding environment that provides new opportunities and exciting challenges for our employees' says Øyvind Grini, CEO of Eikos AS.

ABOUT ITELLO AB

Itello AB is a Scandinavian insurtech company and the market leader in the supply of business systems and digitalisation solutions for all actors within the life insurance and pensions industry in the Nordic region. Itello supplies products and solutions for the purpose of automating and digitalising business processes, and facilitating innovative business development for all our customers. For further information, visit www.itello.com.

ABOUT EIKOS AS

Eikos AS is an actuarial consulting firm providing Policy Administration Systems and services to pension funds and suppliers within the financial industry. Eikos' customers are domestic and foreign insurance companies, fund managers, insurance brokers, corporations, law firms and auditing companies. For further information, visit www.eikos.no.

For further information, contact:

Mats Lillienberg, CEO, Itello AB, mats.lillienberg@itello.se, +46 70 848 8187
Øyvind Grini, CEO, Eikos AS, oyvind.grini@eikos.no, +47 901 16 630

News article details

Industry or Business Focus
Insurance, Life & Health Insurance
Media Type
News Articles, Press Releases
Geographic Focus
EMEA