Ebix has reported net income of $US18 million ($20.8 million) for the third quarter, up 37% on the corresponding period last year.

The US software and e-commerce service provider’s revenue was $US50.8 million ($58.8 million) for the quarter, up 1%.

Chairman and CEO Robin Raina says a lower transaction count in the Asia-Pacific property and casualty market hit revenue, but “we had a strong quarter in terms of new deals”.

“We agreed on four key deals with named carriers in the life space… which we are expecting to begin generating recurring revenues beginning January,” he said.

“Except for the Asia-Pacific region, where our revenue streams temporarily decreased, the life, annuity, reinsurance and health space revenues grew quarter over quarter.”

Ebix has forecast revenue of $US250-260 million ($289-$301 million) for next year.