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Firstly, Ebix announced that Atlanta Business Chronicle has ranked its CEO Robin Raina as the No.1 Top Performing CEO in Georgia. The list appeared in the October 9-15, 2009 issue of the newspaper, which is already on the stands. This is the second consecutive year that Robin has been ranked No.1 on the list by Atlanta Business Chronicle. The newspaper ranking was based on the performance of the CEOs of Georgia's publicly-owned companies during the five-year period Dec. 31, 2003, to Dec. 31, 2008. As per the article, an investment of $100 in Ebix stock at the end of 2003 would have been worth $583 by the end of 2008.
The company also announced that Raina was recently awarded the Entrepreneur of the Year award by The Indus Entrepreneurs (TiE) group, on Sep. 26th 2009 in a glittering ceremony at the Georgia Aquarium Ballroom. Bernie Marcus, co-founder of The Home Depot received TiE Atlanta's prestigious Lifetime Achievement Award, given in recognition for his numerous contributions as an entrepreneur and philanthropist.
These awards follow a series of other recognitions awarded to Raina and the company this year. Fortune Magazine in August 2009 ranked Ebix 2nd on its list of Best Investments in the world. Fortune Magazine also ranked Ebix No.4 on its list of the 100 hundred fastest growing companies, named "the World's supercharged performers."
Raina is credited today with leading one of the most successful turnarounds and explosive growth stories in the U.S. in the last decade. In 1999, when he took over as CEO of Ebix, the company had 23 years of continuous losses, with a loss of $19 million that year. Since then, Raina has led the company through 10 years of continuous sequential growth in earnings, revenues and net income. Along the way the company has created new benchmarks in profitability while continuously reporting 40% plus net margins.
About Ebix, Inc.
A leading international supplier of On-Demand software and E-commerce services to the insurance industry, Ebix, Inc., (NASDAQ: EBIX | Quote | Chart | News | PowerRating) provides end-to-end solutions ranging from infrastructure exchanges, carrier systems, agency systems and BPO services to custom software development for all entities involved in the insurance industry.
With 23 offices across Singapore, Australia, the US, New Zealand, India and Canada, Ebix powers multiple exchanges across the world in the field of life, annuity, health and property & casualty insurance while conducting in excess of $100 billion in insurance premiums on its platforms. Through its various SaaS-based software platforms, Ebix employs hundreds of insurance and technology professionals to provide products, support and consultancy to thousands of customers on six continents. Ebix's focus on quality has enabled it to be awarded Level 5 status of the Carnegie Mellon Software Engineering Institute's Capability Maturity Model (CMM). Ebix has also earned ISO 9001:2000 certification for both its development and BPO units in India. For more information, visit the Company's website at www.ebix.com
SOURCE: Ebix, Inc.
Ebix, Inc. Marketing Steve Horneman, 678-281-0309 steve.horneman@ebix.com or IR Aaron Tikkoo, 678-281-2027 atikkoo@ebix.com
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