Rebus Group Plc, the UK computer service spin-off of insurance broker C E Heath, has acquired a major competitor of its Datasure Ltd insurance systems company, with its purchase of EPG Insurance Systems Ltd (CI No 3026). EPG is a private, East London-based company with a strong overseas insurance business, according to Rebus finance director Nick Loney. Its insurance underwriting product, called Genius, has been in demand overseas, and it is this that particularly attracted Rebus. Since its re lease in 1992, Genius has been installed at 25 sites in 11 countries, and customers include Sun Alliance Group Plc, Allianz Cornhill International Insurance Plc and St Paul Reinsurance Co Ltd. Datasure has some products in the overseas market, Loney said, but it is looking to substantially increase is presence through expanded sales of Genius. Loney said there was some overlap between EPG and Datasure, but on the whole it was a very complementary acquisition. The two companies will be fully merged, he said, but he did not expand on the job implications of the merger. The acquisition, for an initial 11.75m British pounds, is conditional on confirmation being given that it will not be referred to the Monopolies & Mergers Commission. Subject to this, completion should be no later than December 20.
