Volaris Group Expands Insurance Portfolio with Acquisition of SSP Limited
February 17, 2021 - TORONTO, ON
Volaris Group Inc. (“Volaris”) today announced the successful completion of the purchase of SSP Limited (“SSP”), which is the seventh acquisition in the Insurance and Benefits Administration vertical.
SSP is a leading global supplier of technology systems and software for the property and casualty insurance industry. Founded in 1984, SSP strives to supporting its global customer base, while keeping a clear focus on innovation. The company’s software solutions are designed to help insurers and brokers operate their businesses more efficiently.
Stephen Lathrope, CEO of SSP said “The SSP team is excited to be joining the Constellation and Volaris team. We’re passionate about our vision to be a leading provider of insurance technology to the market sectors that we serve. Becoming part of a successful and growing technology group will bring benefits to our customers and our team - for the long term.”
Michael Dufton, Portfolio Leader at Volaris, said, “We have followed SSP’s progress over the years and found SSP’s solution suite and team impressive. The company showed a keen drive to innovate and help shape the insurance software space. We are excited to welcome SSP to the Volaris family and support their long-term growth by providing our best practices and industry experience. The acquisition supports our goal to expand Volaris’ presence in the insurance technology industry and enables us to offer insurance technology solutions to property & casualty insurers on a global basis.”
In line with Volaris’ philosophy of acquiring, strengthening and growing mission-critical software companies, SSP maintains its independence. Volaris will provide support, coaching and new best practices to SSP, while the company continues to operate autonomously.
About Volaris Group
Volaris acquires, strengthens and grows vertical market technology companies. As an Operating Group of Constellation Software Inc., Volaris is all about strengthening businesses within the markets they compete and enabling them to grow – whether that growth comes through organic measures such as new initiatives and product development, day-to-day business, or through complementary acquisitions. Learn more at www.volarisgroup.com.
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