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Ebix Insurance JV license and macro data imminent +3
10:00 28-Oct-19
Ebix announced
this morning that its joint venture with the Bombay Stock Exchange
has received informal approval to sell insurance in India. This
represents a large new market for the insurance technology platform
from Ebix, and is one more step towards establishing a premium IPO
valuation for EbixCash.
As China continues to take heat
in the trade wars, I see investors increasingly turning to India
for a high growth alternative. However, even in the U.K. China is
winning
in technology, which will matter more in the long term. Expect to
see much the same in the U.S. this week, with GDP on Wednesday,
but expect that to be trumped by the FOMC later in the day.
Following that, another tight jobs report on Friday should be
recognized as symptomatic of a competitiveness problem that
markets will have to reckon with eventually, but probably not just
yet. For its part, Ebix should be reporting in about two weeks,
and we really need to hear firmer detail on the IPO getting done
next year, in addition to seeing evidence of growth.