Akur8 said on 9 September 2024 that it had acquired Arius, Milliman’s property and casualty reserving software, expanding beyond pricing into a combined actuarial platform. The company said Arius had about 150 insurance and consulting clients and more than 1,500 users, with more than a third of those clients described as top-tier carriers in the US and Canada.
Chief executive Samuel Falmagne said in the announcement that the deal strengthened Akur8’s market standing, expanded its product portfolio and customer base, and reinforced its relationship with Milliman. Akur8 framed the combination of Akur8 Pricing and Akur8 Reserving as a suite covering core non-life actuarial processes for carriers and underwriters.
Ken Scalf, then principal for P&C insurance software solutions at Milliman, was cited welcoming the move and the Arius team’s transition to Akur8. Commercial terms of the acquisition were not disclosed.
Figures for clients and users in this piece are those stated by Akur8 in its announcement.