June 11, 2010 (FinancialWire) — Ebix, Inc. (NASDAQ: EBIX) said that its board has approved an increase in the amount of common stock the company is authorized to repurchase from $5 million to $15 million.

To date the company has purchased a total of 547,107 shares of its common stock under board authorized share repurchase plans, for total aggregate consideration in the amount of $5.9 million. Ebix said it is using available cash resources and cash generated by its operating activities to fund such share repurchases.

Georgia-based Ebix is a supplier of on-demand software and E-commerce services to the insurance industry. The firm provides solutions ranging from infrastructure exchanges, carrier systems, agency systems and BPO services to custom software development for various entities involved in the insurance industry.

The firm has more than 30 offices across Brazil, Singapore, Australia, the U.S., New Zealand, India and Canada.

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