RNS Number:2530Z
Innovation Group PLC
29 June 2007
29 June 2007
THE INNOVATION GROUP PLC
Contract Win
The Innovation Group plc ("the Group"), which provides outsourcing services and
software solutions to the world's insurance markets, today announces a major
outsourcing contract with Royal & SunAlliance - one of the world's leading
insurance groups.
The contract will involve the Group providing Royal & SunAlliance with UK claims
handling expertise in the area of subsidence. Based upon anticipated transaction
volumes, it is estimated that the contract will be worth more than #25 million
over its five-year lifespan. The contract will commence in July.
Hassan Sadiq, Chief Executive Officer of The Innovation Group plc, said:
"We are delighted that such a major insurer as Royal & SunAlliance has chosen us
to handle its subsidence claims - an area in which we have great expertise. They
have clearly recognised our ability to drive down the cost of processing claims
while retaining a high level of service.
"Furthermore the contract demonstrates the breadth of opportunity available to
us as we pursue our strategy of becoming the leading outsourcing service
provider to the wider insurance industry."
Enquiries:
The Innovation Group plc
Hassan Sadiq, Chief Executive Officer +44 (0) 1489 898300
Paul Hemsley, Group Finance Director
College Hill Associates Ltd
Sara Musgrave +44 (0) 20 7457 2020
Carl Franklin
This information is provided by RNS
The company news service from the London Stock Exchange
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