Directorate Change (4974E)
June 01 2012 - 2:01AM
UK Regulatory
TIDMRIIG
RNS Number : 4974E
Resources In Insurance Group PLC
01 June 2012
1 June 2012
RESOURCES IN INSURANCE GROUP PLC
("RiIG", the "Group" or the "Company")
DIRECTORATE CHANGE
The Board of RiIG, a leading provider of claims management and
consultancy solutions to the UK insurance profession, is pleased to
announce that Gordon Vater has been promoted to Chief Executive
Officer, effective from 1 June 2012, to work more closely alongside
Executive Chairman, John French, on corporate and developmental
matters.
As Managing Director, Gordon was responsible for Group
operations and business development activity. Under that role he
was instrumental in the growth and development of the Company. The
Board's decision for the introduction of the new Chief Executive
Officer role allows the Company to successfully address the
widespread opportunities it has identified and build on recent
success. Gordon's operational point of view has been exceptional
and the Board now sees it as an opportune time to broaden his role
as Chief Executive Officer for the future development of all
aspects of the business. The implementation of this new role will
help secure the Company's progression and capitalise on
opportunities.
John French continues in his role as Executive Chairman,
following the transformation of the Company. In the Company's
recent Final Results, it was reported that revenues had increased
by 43.7% to GBP3.06m compared to 2010's figure of GBP2.13m. The
Final Results provided the market with encouraging prospects and a
recovery of the Group and a direct result of the previously
reported strategic review, spearheaded by John French.
The Company envisages exciting opportunities for the existing
range of services to the insurance profession, together with plans
to provide further services in areas such as training and placement
of key claims management personnel.
Whilst it has been a slow start to the year due to the mild
weather during the winter period, the new business from existing
and new clients secured over recent months is expected to bear
fruit in the immediate future. The prospects for further new
business are encouraging, with the Group experiencing the highest
level of enquires from prospective clients to date.
Commenting on today's news, Executive Chairman John French,
said:
"I am pleased to be able to look forward to working with Gordon
on strategy for growth. Gordon has provided the Company with an
excellent service and we believe he will contribute to the
continued success of the Company under his new role. With regards
to our outlook, we are encouraged by future prospects and I am
pleased to be able to look forward to working on a strategy for
growth. We shall update the market with any progression in due
course."
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
Financial PR
Yellow Jersey PR Limited
Dominic Barretto +44 (0)7768 537 739
Harry Fielder
This information is provided by RNS
The company news service from the London Stock Exchange
END
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