KGISL Completes Acquisition of AETINS, Expands Expertise in the Insurance Space

KG Information Systems Private Limited (KGISL), a global IT services, consulting, and business solution provider, today announced the acquisition of AETINS Sdn. Bhd., (199801000924), through its wholly-owned subsidiary in Malaysia, KG Information Systems Sdn. Bhd. (201301013805). The acquisition is a part of KGISL’s growth strategy in the InsurTech space.

AETINS brings aboard an exceptional range of insurance solutions for Life, General and Takaful
bundled with an unmatched domain expertise. AETINS’ Core Insurance Product and Solutions
are well known in the market and are market leading. The company serves a vast clientele of
insurance firms in the Asia Pacific, Middle East, and North Africa. The people, products, and
solutions from AETINS would be leveraged in expanding KGISL’s footprint in the InsurTech
space.

KGISL has its market presence in the Malaysia InsurTech space since 2006 and has grown as a
market leader with its Point of Sale (PoS) and Claims Management Solution for the Non-Life
Insurance segment. The acquisition of AETINS will now bring in Core Insurance Product and
Insurance Solution Framework (ISF) into KGISL’s product offerings and opens doors to enter the
wider Asia Pacific, Middle East, and Africa markets covering the Life, Non- Life and Takaful
Insurance segments.

Prassadh Shanmugam, Director and Chief Executive Officer, KGISL commenting on the acquisition said, “I am super excited about this acquisition. AETINS’ Core Insurance products, Takaful offerings and good presence in the Middle East market are the missing pieces in KGISL’s Insurance offerings. It would have taken years for us to build this capability, so the acquisition is a perfect fit for KGISL. The employees of AETINS share the same integrity, culture and value
systems of KGISL, so the integration will also be smooth and quick”.

Commenting on the acquisition, Dr Ashok Bakthavathsalam, Managing Director, KGISL said,
“The acquisition brings together two leading InsurTech players in pursuit of a common mission, centered on providing the best value for customers, organisation and employees. With able leadership and a go-getter team, KGISL has been on a fast growth trajectory, clocking a five-fold growth in the last four years. This acquisition adds momentum, and I am confident that our growth will be even faster in the next 3 years”.