Major new contract (0449O)
13 Septiembre 2011 - 1:00AM
UK Regulatory
TIDMRIIG
RNS Number : 0449O
Resources In Insurance Group PLC
13 September 2011
13 September 2011
RESOURCES IN INSURANCE GROUP PLC
("RiIG", the "Group" or the "Company")
Major contract win with leading insurer
The Board of RiIG, a leading provider of claims management and
consultancy solutions to the UK insurance profession, is pleased to
announce today the signing of a major contract with a leading
Property & Travel insurer for its Verify product.
The Company operates through its four divisions, i-Team, Verify,
Consult and Surety Claims. Verify, which provides nationwide field
investigation solutions across Property & Travel, Motor,
Liability and Counter Fraud, was introduced on a limited test
marketing basis in 2010 and, following a period of evaluation, was
launched to the wider market during 2011.
Verify has secured a number of small clients in the Motor arena
during 2011 and now sees its first major contract from one of the
UK's leading insurers for Property and Travel investigation claims,
which is expected to commence during the month of September.
The Board of RiIG believes that RiIG has made an impact within
the insurance profession with its established I-Team service
providing both in sourced and out sourced claims management
services. Verify provides a complementary facility on which to
accelerate growth of the Company's overall capabilities.
Today's win follows on from the Company's recent half year
results, announced on 11 August, which saw an uplift of 48% in
revenue to GBP1,373,215 (2010: GBP925,146) and a move to a profit
of GBP25,382 before share option expense (2010: loss of
GBP150,466). The contract sees the Company's continue to secure new
business, which the Board expects will in turn build on its
position of profitability.
Commenting on the contract win, Executive Chairman John French,
said: "This is excellent news, following so closely on the
announcement of improved trading and new business gains from
existing and new clients. The win further supports the Board's
belief that the Company's prospects for the remainder of the
current year are encouraging."
ENQUIRIES:
Resources in Insurance Group plc
John French, Executive Chairman Mobile: 07836 722 482
Allenby Capital Ltd - nominated adviser and joint broker Tel:
+44 (0)20 3328 5656
Brian Stockbridge / Alex Price
Rivington Street Corporate Finance - joint broker Tel: +44 (0)
20 7562 3384
Dru Edmonstone
This information is provided by RNS
The company news service from the London Stock Exchange
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