Pro Global Insurance Solutions PLC New Revenue Contract (0550Q)

TIDMPROG

RNS Number : 0550Q

Pro Global Insurance Solutions PLC

24 February 2016

Pro Global Insurance Solutions plc

24(th) February 2016

Pro Global Insurance Solutions plc (the "Company" or "Pro Global")

Pro Global Insurance Solutions plc announced today that it had entered into a multi-year contract with a leading global reinsurer and a leading UK insurer to provide long-tail claims management services relating to UK liability. The services relate to both the insurer's claims reinsured by the leading global reinsurer, as well as its retained long-tail claims.

This new contract is material to the Pro Global's group P&L and is likely to represent an uplift in revenues of around 20% when compared to 2015.

Pro will be opening a new office in Glasgow as a result of the contract. The insurer's current disease claims team will transfer over to Pro under TUPE (Transfer of Undertakings) regulations.

Artur Niemczewski, CEO of Pro Global, stated, "Pro Global's contract with the leading global reinsurer and a leading UK insurer firmly consolidates our position as a centre of excellence for UK long-tail claims management and is fully aligned to our vision to be the number one specialist service provider supporting the complex operational needs of global insurers and reinsurers."

Enquiries:

 
 Artur Niemczewski, Chief 
  Executive 
  Pro Global Insurance Solutions 
  plc                               020 7068 8026 
---------------------------------  -------------- 
 James Britton or Guy Wiehahn 
  Peel Hunt LLP (nominated 
  adviser and broker)               020 7418 8900 
---------------------------------  --------------

This information is provided by RNS

The company news service from the London Stock Exchange

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