The London market arm is unaffected by the US firm’s bankruptcy proceedings filed in Texas, with the launch of PlacingHub still set for January 2024.

London market technology provider Ebix Europe has released a statement to emphasise that it is ringfenced from bankruptcy developments at Ebix Inc.

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Ebix Europe is a UK limited company, trading as an independent subsidiary of Georgia-based Ebix, Inc.

The anticipated outcome of the Chapter 11 arrangement, usually entered into to reorganise its debts and assets, is the sale of certain US business units, the statement said.

Ebix Europe is ringfenced from the arrangement, the company emphasised.

“We want to provide clarity and reassurance that the recent developments within Ebix Inc do not affect Ebix Europe, which is an independent, profitable entity, along with the Group’s other regional subsidiaries around the world,” said Ebix Europe vice president Pete Smyth.

The London market insurtech firm said it was unaffected and is continuing “business as usual”, including the launch of its placement platform, PlacingHub, which is set for January 2024.

It added that a number of brokers and underwriting organisations have already signed up to the platform.

Smyth said: “We continue with business as usual, and are fully committed to providing outstanding service for our clients. If you have any concerns, please do not hesitate to contact us directly.

“We look forward to working with you and our rapidly growing roster of PlacingHub and ExposureHub clients in 2024 and beyond,” he added.