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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Resources In | LSE:RIIG | London | Ordinary Share | GB0006158686 | ORD 0.1P |
| Price Change | % Change | Share Price | Shares Traded | Last Trade
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| 0.00 | 0.00% | 0.21 | 0.00 | 01:00:00 |
| Bid Price | Offer Price | High Price | Low Price | Open Price | |
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| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
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| Last Trade Time | Trade Type | Trade Size | Trade Price | Currency |
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| - | O | 0 | 0.21 | GBX |
Resources In Insurance Group (RIIG) Share Charts1 Year Resources In Insurance Group Chart |
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1 Month Resources In Insurance Group Chart |
Intraday Resources In Insurance Group Chart |
| Date | Time | Title | Posts |
|---|---|---|---|
| 10/7/2014 | 17:29 | Resources in Insurance Group - The Claims People reborn | 597 |
| 19/6/2012 | 09:15 | Resources In Insurance - From Recovery to now Growth Stock @ 0.725p | 112 |
| 04/6/2009 | 13:09 | RIIG - TURNAROUND 2009 | 10 |
| Trade Time | Trade Price | Trade Size | Trade Value | Trade Type |
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| Top Posts |
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Posted at 05/2/2014 08:52 by wayneb So, they are getting busy, so another stitch up for us investorsRiiG Limited Implant Teams Called to Assist Over Christmas and New Year Weather Surge London, UK. January 23, 2014 RiiG Limited (RiiG), a leading provider of claims management and consultancy solutions to the UK insurance profession and financial services sector today announced that its insourced claims handling operation, iteam, has seen property specialists deployed to a number of client sites to assist with weather related claims. RiiG Limited teams were deployed to client locations across the UK within days of notification for assistance with projects including assistance with FNOL and back office technical support. "RiiG Limited's iteam reacted extremely well in what was a busy period for us" commented Gordon Vater, RiiG Limited CEO. He added, "We are pleased that we have been able to assist a number of existing and new clients at a time of need". Additionally, RiiG Limited's field investigation service, verify, experienced an increase of 250 percent over the Christmas and New Year period. Field visits were largely carried out within SLA, with resources deployed right across New Year. Gordon Vater, CEO, RiiG Limited commented "It has been a busy time for the industry. The recent weather event, whilst devastating for many individuals, was not a huge weather event for the general insurance industry. It has, however been a wake-up call for the industry and we will wait to see in the coming weeks how the industry as a whole has performed. I suspect some will have performed well, but others may have some work still to come" |
Posted at 27/1/2014 17:14 by verulamium Far from RIP RIIG, just RIP shareholders. From their new website:In 2013, Chairman, John French and CEO, Gordon Vater, led a management buyout and all operations were transferred to a new company, RiiG Limited, which continues all trading activities. "Management buyout" is one way of putting it... |
Posted at 24/1/2014 17:00 by soggy RIP RIIG... |
Posted at 10/12/2013 17:47 by davidlloyd I am assuming that there was no need to confirm the following statement was 'in the interests of the shareholders'......'As a consequence of this trading improvement and increased business opportunities the Group has decided to review its corporate structure and move all its trading activities currently undertaken through the PLC into a wholly owned subsidiary, RiIG Limited. The Board believes that there will be benefits in having a trading entity separate from the PLC including having trading relationships undertaken through an entity with the same name as the Brand Name of the Company and allowing the senior operational management team to drive cost efficiencies and to be appropriately incentivised' It seems remarkable that you can take the WHOLE trading element of a plc and chuck it into a subsiduary and, as it would seem (and please anyone enlighten me if otherwise), effectively ring fence the shareholders from any value thus attached.... Words fail me. DL |
Posted at 29/11/2013 21:45 by cottoner As per today's results RIIG looks like its 'turning the corner' as previously intimated.The improvement is due to the benefits of increased business from both existing and new clients beginning to impact on all aspects of performance. At the Annual General Meeting in October 2013 , the Board stated that the main financial benefit is expected to impact in the second half of the financial year and the Board is pleased to say that the third financial quarter is showing continued improvement Looking forward, the Group is continuing to secure new business to improve prospects for the full year to March 2014 A number of new business contracts in negotiation - taken from todays RNS. ' The Group's main products are considered to be robust and are anticipated to benefit from external factors such as further Ministry of Justice reforms and industry attitudes to the claims environment. Significant new business has not been factored into the financial projections, although there are a number of new business contracts in negotiation. Current market response and the conversion of potential customers have both been good.' |
Posted at 30/9/2013 07:09 by moreforus Cunning double rns....Resources In Insurance Group PLC Contract Win Alert TIDMRIIG RNS Number : 1597P Resources In Insurance Group PLC 30 September 2013 30(th) September 2013 RESOURCES IN INSURANCE GROUP PLC ("RiIG", the "Group" or the "Company") Contract Win Confirmed Resources in Insurance Group plc (RiIG), a leading provider of Claims Management and Consultancy Solutions to the UK Insurance Profession, is pleased to announce, further to the announcement of 30 August 2013 that a contract had been secured, that the Company has signed a 3 year contract with a leading Professional Insurance Services organisation to provide recruitment and placement services. The recruitment division of RiIG - Absolute Professional Talent (APT) - was successful in winning a position on this highly prestigious recruitment Preferred Supplier List. "We are extremely excited and pleased to be working with such a well - known name in the market and even more delighted for our Team at APT who have worked hard to create and deliver a quality led and claims focused proposition that is now reaping dividends" commented Gordon Vater CEO of RiIG "our model harnesses our technical claims capability, market knowledge and recruitment experience into a balanced recruitment proposition for external clients and internal divisions." The Contract will see APT working closely with the client over the next 3 years. The business was won following a highly competitive tendering process and builds upon other recent contract wins. John French Executive Chairman of RiIG said: "APT was set up initially to retain the sourcing of key personnel within the Group to reduce recruitment costs -and to date has produced savings in excess of GBP190,000. Interest in this division from clients presented us with the opportunity to offer such services to existing and new clients. This contract represents a major step forward both, in terms of enhancing our reputation in the market having been secured in competition, but also, the important contribution it will make to ongoing turnover and profitability." |
Posted at 30/8/2013 19:15 by cottoner Trading UpdateThe Company is pleased to announce that it has been advised that it has secured, in competition with other parties, an important new contract from a leading name in the insurance sector. Terms have been agreed and we expect the contract to be signed in the near future when details will be announced. This confirms that RiIG is continuing to move forward on a positive platform based on increasing business from existing and new clients. This win follows the contract wins referred to in the RNS announcement of the 25 June 2013. -------------------- I wonder if the initial mention of the results being published no later than the 30th of August was basically an oversight by someone at some point thinking the results had to be published before the end of August rather than the end of Sept when the six month period from the results year end (March 13) lapses. The share price should get a boost when details of the new contract are officially announced. |
Posted at 05/7/2013 22:43 by loverat Charmer1_23I do not think the share price fell back because people who bought shares yesterday then read past RNSs and then decided to sell them the same day. They were traders. A year without any news was not that helpful to the share price and no doubt some shareholders had lost patience and sold too. Not rosy if you look in terms of the past but it is the future which should add a speculative dimension to these shares and more regular newsflow. The market cap reflects the past performance but we'll see what the future holds. |
Posted at 25/6/2013 20:17 by loverat I've got a feeling that the directors don't put alot of effort into growing this company. I will have a dig around sometime but I suspect the directors here are probably involved in lots of companies and this is just a sideline.For example, no trading update last year to tell us that trading was not going that brilliantly in the weather related stuff. No contract announcements and then we have a few at once, all mixed up which had a negative effect on the share price. These announcements would have been better released in a timely fashion and separately. Is it any wonder the share price is where it is when there is no news for 9 months? As for the business, the contracts sound good but again are announced 9 months after the last results when people would have invested on the expectation there would be some regular news. The PPI stuff is interesting and I am going to dig around on that. I understand that some of these contracts are for banks/insurers to deal with complaint handling. That is massive at the moment and banks are absolutely overwelmed with work at present. In theory as long as they have the capacity to invest and staff this, potentially alot of business can be created. Why they have not made more of this, I do not know. As for the PPI calls I did not think this is what they do but I am going to make some enquiries. If part of the business is the CMC related stuff (e.g cold calls) that seems like a conflict with some of the above work I mentioned and I do not think makes as much profit because I have seen the poor way some CMCs run their business. Personally I think this company probably needs more investment and time and effort. The way the statement reads to me is that this business is a hobby or a sideline. I wonder if JF just woke up this morning and wrote it in half an hour. Anyway - that said, the share price is far lower than it should be and I am expecting regular announcements from now on. |
Posted at 08/6/2011 14:34 by dicko80 some anaylst coverage but only have it in PDF...Copy and paste below Resources in Insurance (RiIG) upturn helps support FY11 SMALL-CAP PORTFOLIO Report Date 28th April 2011 Analyst Ravi Lockyer MSc Llb Collins Sarri Statham Investments Ltd Stock Rating: BUY Share Price..........0.77p 52 week ... 1.07p/0.275p Shares o/s ....... 317.5m Market Cap ...... £2.44m Avg Daily Vol...... 3.9m Dividend Yield ......... NA Fiscal Year ... 31st Dec 10 We are impressed at the stabilisation and evidence of recovery in core operations at Resources in Insurance (RiIG) over 2010. This is evident from the FY10 prelims reduction in loss per share to -0.25p from -0.4p and recent trading announcements (7th April 2011) detailing client wins and a profitable Q1 2011. The FY2010 loss included a non cash share option expense (£52,746). We estimate that over FY10 RiIG had 1 or 2 profitable months, whilst Q1 2011 has been in the black. During H1 2011 RiIG should have 4 profitable months moving up to 10 over FY2011. Operating improvements and client wins should deliver a positive result in H1 2011 and positive earnings in FY11. The former "Claims People" business is in a recovery phase that started with board room changes in mid 2008 which resulted in the sale of the loss adjusting division in April 2009. To recap, the 2009 transformation saw RiIG ditch loss making claims adjusting and re-focus on core divisions; "iteam" (insource/ outsource claims management), "Verify" (independent inspection services in property, motor and creditor), "Consult" (claims specific consultancy) and recently "RiIG Surety Claims" (credit hire audit / handling). The board is starting to see cross-selling opportunities and increased inquiries from the existing client base for other group services. RiIG is seeing improved demand for its experienced claims management staff via "iteam" that specialises in handling claims backlogs and achieving settlement. We would highlight the following as relevant to RiIG recovery in 2011:- The restructuring has improved focus on underlying operations/ client retention delivering a more consistent revenue line. FY10 revenues gained 45% to £2.13m we expect this growth momentum to continue in FY11 with revenues rising 40% to £3m. Our revenue growth forecast for 2011 reflects a) increase in clients with significant contracts (two to four) b) expected client extensions and roll-over business but not pipeline business c) no client losses. Owing to the uncertain timing of conversion of pipeline to contract wins, due to the lengthy decision making process in the insurance sector, the FY11 revenue forecast does not include RiIG's opportunity pipeline, which could impact H2 2011. We estimate that the pipeline (circa £3m) could add around £600k of revenues over FY11-FY12 though this is not in the revenue forecasts. The team are confident in pipeline opportunities which include 2 large EU insurers. Decreasing client and revenue variability is important (in FY2010 approx 85% of RiIG's revenues were attributable to two major clients). In 2011 to date, the client list has expanded to include six major insurers, mainly in the auto insurance sub-sector. A key positive has been increased client willingness to roll contracts into new business opportunities, either via adding to the contract length or moving the contract to different group offices. Contract extensions and longer client lists reduces the cost of shedding staff, a problem experienced at RiIG in the past when contracts concluded. RiIG is able to "flex" EQUITY RESEARCH RESOURCES IN INSURANCE - BUY Resources in Insurance (RiIG) is a provider of independent and innovative claims services for the insurance industry Key Risks Factors 1. RiIG is listed on the AIM market. Its ability to raise new funds will be affected by liquidity conditions and investment appetite for AIM companies. 2. Demand for RiIG insurance services are by their nature subject to long lead times making revenue timing uncertain. 3. RiIG is dependent on key staff meeting sales and client targets Please also note the risk warnings on the last page of this document relating to companies listed on AIM. it temporary/ part time staff levels to meet demand, due to its extensive network of claims management staff without incurring redundancy costs. The conversion of £300k 12% RiIG loan stock to RiIG equity has removed the burden of the high yield loan note and left RiIG debt free. Whilst RiIG has not arranged overdraft facilities yet, some move to put in place contingent financing during H2 2011 is possible if expansion delivers increased working capital needs. The board envisages recent new hires of 15 in iteam/ consult to be sufficient for now and involve an increase in administrative expenses to £2.9m over FY11 possibly increasing working capital pressures. A new business division "RiIG Surety Claims" has been formed to provide auditing/ training services for the UK credit hire market. This new area is small scale and could take to mid 2011 for meaningful revenues. Diverse service offering/ cross sell/ scalable opportunities RiIG's major objective over 2011 is to improve scalability, joining up existing/ new clients with the expanded service offering. Typically client/ service additions would change the average contract, from £300k with a 5% operating margin to £500k with a smaller 4% margin ( if an iteam client added Verify). RiIG's ability to scale the product offering to an increased client base is the results driver over the next 24 months. Valuation move to P/E from P/B will help transparency A transition is taking place at RiIG and a key benefit will be shareholders ability to value in the business in a more transparent manner than has so far been possible. At the present time due to the legacy losses and FY 2010 losses, holders basis for valuation consist of book value (P/B) (end 2010 shareholder's equity £143.8k) and price to revenues (P/S). On P/B the valuation at 17.3x book value is of limited guidance for investors and reflects the legacy of losses/ capital depletion. On P/S the valuation at 1.14x revenues appears reasonable though this also suffers from the RiIG high historic variability in the revenue line. Our FY11 pre-tax profit of £100k/ EPS forecast of 0.0315p puts RiIG on a forward P/E of 25.4x a high "recovery" multiple that suggests RiIG is in the early stages of profit recovery. As earnings delivery continues it is entirely possible that RiIG would see P/E multiple expansion over FY11-FY12 as investors re-rate the stock on the basis of earnings growth and the diminishing prospect of stock dilution/ issuance. "iteam" "Verify" "Consult" "Surety" Core business experiencing improved market recognition hence 15 new hires in FY11. Revenues, margin and net income gains expected in FY11 the expectation is iteam will still account for >95% of group results in FY11. Following test marketing in 2010, the board see the opportunity to cross-sell Verify's anti fraud/ spurious claims solutions to iteam clients. Verify has 2 small clients. A spin-off service from iteam is early stage but cross-sell opportunities exist. Clients have expressed interest in division's training, mentoring, operational efficiency solutions. Has 1 small client but scope for expansion. New in 2011; objective is to build clients in credit hire handling and audit. Not included in FY11 projections. The arrival of a P/E will also make RiIG easier to value from the viewpoint of its support services peer group and encourage comparisons. The UK peers include some outstanding UK companies with overlapping businesses. The addition of retained earnings would also help the balance sheet and reduce price/ book multiples. The shareholder list is concentrated with surprisingly high institutional interest (approx 53%) given RiIG's £2.5m market cap. A further 9.7% of the shares are held by the board. The institutional following suggests RiIG does have open to it more innovative funding methods and alternatives (an example was the £300k of convertible loan stock/ now converted) to a straight placing which it may employ in the event of acquisitions or a significant increase in business beyond levels currently envisaged. The board's proactive approach to shareholder communications, RiIG attended both the Growth Company Investor Show in September 2010 and the Master Investor Show in March 2011 has encouraged a strong retail shareholder following that in our view would respond well to positive earnings and a steadier revenue path. Board of Directors *John French, Chairman Experienced AIM and PLUS executive at both executive and non executive level having led numerous IPO and M&A transactions. Moved from non executive Chairman to Executive Chairman in 2008 to lead the restructure of the Group. *Robert Mitchell; Non-Executive Founded Bluehone Investors LLP after a career at F&C where he helped launch the AiM Trust and the Discovery Trust. Mr Mitchell is a chairman of the Audit Committee and a member of the Remuneration Committee at RiIG. *Gordon Vater; Managing Director Responsible for Group operations and Business Development, with over 20 years claims experience mainly in the loss adjusting and claims management sectors. *Dominic Boyce; Finance Director/ Company Secretary, former founding partner of an accounting firm in Trinidad & Tobago and subsequently Finance Manager at Alwen Hough Johnson Ltd reinsurance brokers in the UK. *Barry Whyte; Non Executive Director; founded the Claims People Group post a successful career as MD of Miller Knight Ltd. Mr Whyte is chairman of the Remuneration Committee and a member of the Audit Committee. CSS forecasts FY2008-FY2011F FY 31st Dec (£m) FY2008A FY2009A FY2010A FY2011E Revenue 1,095,905 1,465,911 2,131,971 3,000,000 Admin Expenses 2,192,618 1,966,535 2,452,361 2,900,000 Share Option expense - - -52,746 Interest Expense 3,959 8,723 30,677 Profit before Tax -1,100,672 -509,347 -403,813 100,000 Tax -135,263 1,470 - Loss from discontinued operations -89,792 -39,922 - - Net profit -1,325,727 -549,269 -402,343 100,000 EPS (p) -0.97 -0.40 -0.25 0.0315 A: actual E: estimate; Source: CSS Investments Ltd Conclusion The recovery story at RiIG is gathering pace, and if the board can convert the service offering to revenues then revenue growth (40%-50%) could be strong over FY11 and FY12. Given the constraints on personnel requirements (>80% total expenses) our expectation is the group would require revenues to exceed £3.5m before deriving significant efficiency gains. However investors should focus on trading and the revenue upside that the service expansion should deliver. The shares have factored in some of the recent trading improvement, but there would be further appreciation in the event of positive H1 and FY earnings. Longer-term RiIG would make an excellent fit for a larger acquisitive support services group (>£100m mkt cap) looking to quickly build up an expertise in insurance claims handling. Whilst a merger/ takeover approach is not likely in the short-term an offeror might be encouraged by RiIG's high shareholder concentrations. |
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