StatPro Group PLC European insurance group signs £1.125m contract

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StatPro Group PLC

19 December 2018

RNS REACH

19 December 2018

StatPro Group PLC

Large European insurance group signs GBP1.125 million contract

StatPro Group plc, ("StatPro", "the Group", AIM: SOG), the AIM listed provider of cloud-based portfolio analytics and asset pricing services for the global asset management industry, has secured a three-year contract with a large European insurance group for its Revolution Delta service, with a total contract value of GBP1.125 million.

This contract greatly extends the use of Revolution Delta's services for this existing client of the Group. The insurance group uses Revolution Delta to manage liability driven investments, which are key to running a successful insurance strategy balancing current assets against future liabilities and to optimising returns.

Following the first closing of the acquisition of Delta in May 2017, StatPro initially planned to enhance Revolution to reach functional parity with Delta within three to five years. StatPro has now devised a plan to continue using Delta within the Revolution platform thus ensuring a seamless integration with no disruption to the existing service. StatPro is therefore continuing to market Revolution Delta actively.

Justin Wheatley, Group CEO, commented:

"This contract win is further confirmation of the excellence of the Revolution Delta product and the faith of our clients in the future of the service.

"We have recently announced that we are now providing our Revolution Delta clients continuity of service from within our Revolution platform. This means that our Revolution Delta clients will not have any disruption to their service but will instead benefit from the enhanced and broader functional capacity of Revolution."

Enquiries:

 
 StatPro Group plc 
 Justin Wheatley, Chief Executive        +44 (0) 20 8410 9876 
 Andrew Fabian, Finance Director 
 
 Panmure Gordon - Nomad and Broker 
 Corporate Finance - Freddy Crossley 
  / Fabien Holler                        +44 (0) 20 7886 2500 
 Corporate Broking -James Stearns 
 
 Instinctif Partners 
 Adrian Duffield/Kay Larsen/Chantal 
  Woolcock                               +44 (0) 20 7457 2020

About StatPro

StatPro is a global provider of award-winning portfolio analytics solutions for the investment community. The Group's cloud-based platform provides vital analysis of portfolio performance, attribution, risk and compliance. This multi-asset class analytics platform helps StatPro's clients increase assets under management, improve client service, meet tough regulations and reduce costs.

The Group's integrated and global data coverage includes over 3.2 million securities such as equities, bonds, mutual funds, FX rates, futures, options, OTCs, sector classifications and much else besides. StatPro also covers most families of benchmarks including MSCI, FTSE, Russell, NASDAQ and the open source Freedom Index.

The Group has operations in Europe, North America, South Africa, Asia and Australia, with hundreds of clients in 39 countries around the world.

StatPro has grown its Annualised Recurring Revenue from less than GBP1 million in 1999 to around GBP55 million at the end of September 2018. Around 80% of recurring revenues are generated outside the UK. StatPro Group plc shares are listed on AIM.

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