RIIG Resources In

TIDMRIIG

RNS Number : 4974E

Resources In Insurance Group PLC

01 June 2012

1 June 2012

RESOURCES IN INSURANCE GROUP PLC

("RiIG", the "Group" or the "Company")

DIRECTORATE CHANGE

The Board of RiIG, a leading provider of claims management and consultancy solutions to the UK insurance profession, is pleased to announce that Gordon Vater has been promoted to Chief Executive Officer, effective from 1 June 2012, to work more closely alongside Executive Chairman, John French, on corporate and developmental matters.

As Managing Director, Gordon was responsible for Group operations and business development activity. Under that role he was instrumental in the growth and development of the Company. The Board's decision for the introduction of the new Chief Executive Officer role allows the Company to successfully address the widespread opportunities it has identified and build on recent success. Gordon's operational point of view has been exceptional and the Board now sees it as an opportune time to broaden his role as Chief Executive Officer for the future development of all aspects of the business. The implementation of this new role will help secure the Company's progression and capitalise on opportunities.

John French continues in his role as Executive Chairman, following the transformation of the Company. In the Company's recent Final Results, it was reported that revenues had increased by 43.7% to GBP3.06m compared to 2010's figure of GBP2.13m. The Final Results provided the market with encouraging prospects and a recovery of the Group and a direct result of the previously reported strategic review, spearheaded by John French.

The Company envisages exciting opportunities for the existing range of services to the insurance profession, together with plans to provide further services in areas such as training and placement of key claims management personnel.

Whilst it has been a slow start to the year due to the mild weather during the winter period, the new business from existing and new clients secured over recent months is expected to bear fruit in the immediate future. The prospects for further new business are encouraging, with the Group experiencing the highest level of enquires from prospective clients to date.

Commenting on today's news, Executive Chairman John French, said:

"I am pleased to be able to look forward to working with Gordon on strategy for growth. Gordon has provided the Company with an excellent service and we believe he will contribute to the continued success of the Company under his new role. With regards to our outlook, we are encouraged by future prospects and I am pleased to be able to look forward to working on a strategy for growth. We shall update the market with any progression in due course."

For further information:

 
Resources in Insurance Group plc 
 John French, Executive Chairman 
 www.riig.co.uk 
 
 Nominated Adviser/and Joint Broker    +44 (0) 7836 722 482 
Zeus Capital Limited 
Ross Andrews / Brian Stockbridge      +44 (0) 161 831 1512 
 
 Joint-Broker 
Rivington Street Corporate Finance 
Jon Levinson                          +44 (0) 20 7562 3357 
 

Financial PR

Yellow Jersey PR Limited

Dominic Barretto +44 (0)7768 537 739

Harry Fielder

This information is provided by RNS

The company news service from the London Stock Exchange

END

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