Trading Update (4197B)
17 April 2012 - 8:00AM
UK Regulatory
TIDMRIIG
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 +44 (0) 7836 722 482
Zeus Capital Limited
Ross Andrews / Brian Stockbridge +44 (0) 161 831 1512
Joint-Broker
Rivington Street Corporate
Finance
Jon Levinson +44 (0) 20 7562 3357
This information is provided by RNS
The company news service from the London Stock Exchange
END
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