Trading Update (4197B)

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RNS Number : 4197B

Resources In Insurance Group PLC

17 April 2012

17 April 2012

Resources in Insurance Group plc

Trading Update

Resources in Insurance Group plc ("RiIG" or "the Group"), a leading provider of claims management and consultancy solutions to the United Kingdom Insurance profession, is pleased to report a continued improvement in trading for the year ended December 2011 as a result of additional business from existing and new clients. Final year end results are expected to be announced by the end of May 2012.

The sucess achieved by the Group within insource and outsource services to the insurance sector, and the recognition by clients of the high standard of service provided by the Group, has shown the need for training and placement services in the areas of claims management and personnel. The continued difficulties experienced by the insurance industry with regards to talent - particulalrly in the claims arena - has not diminished. The profession remains reliant on individuals with significant experience but they are in the mid-to-late stages of the demographic cycle.

With the continued profile the government is highlighting amongst younger people and the desire to see them gain work, RiIG has undertaken research and is in the process of completing an apprenticeship offering that will act as a Training Contract to attract new blood not just into RiIG but also the industry. This scheme would see 100% government funding of 16-19 year old applicants.

As such, and based on that research undertaken with insurers and with the imminant requirements of the Aldermanbury Declaration, a clear opportunity exists for the provision of Technical Training and Mentoring serivces as well as Placement activities. With this in mind it is the intention of RiIG to establish a new division to provide these services at an early opportunity. The Board looks forward to reporting further on the propsed division in due course.

Commenting, John French, Executive Chairman, said: "The Board is encouraged with regard to the continued improvement in trading. It is equally keen to develop the opportunities that have been identified during the latter part of 2011 in areas of training and placement as a result of both research and from dialogue with existing customers. We hope to develop this at an early opportunity as it will further enhance the range of service we can provide to the insurance profession.As ever, the Board continues to look to implement these types of programmes either directly or in collaboration with other complementary organisations and continues to look at opportunities to enhance shareholder return and value."

For further information:

 
Resources in Insurance 
 Group plc 
 John French, Executive 
 Chairman 
 www.riig.co.uk 
 
 Nominated Adviser/and 
 Joint Broker                       [phone] 
Zeus Capital Limited 
Ross Andrews / Brian Stockbridge   [phone] 
 
 Joint-Broker 
Rivington Street Corporate 
 Finance 
Jon Levinson                       [phone] 
 

This information is provided by RNS

The company news service from the London Stock Exchange

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