Tuesday, 3 February 2009

TIG has good quarter

(By Anthony Miller). As welcome relief to recent woes, insurance specialist The Innovation Group (TIG) had a pretty good December quarter, with near-18% organic revenue growth and a ‘significant’ increase in profits, helped by favourable currency movements. However, motor claims volumes were down in the quarter. TIG also confirmed it will ‘vigorously’ contest a claim from Canadian Allstate Insurance, with legal fees expected of £1m. The hunt for a replacement for non-exec chairman Geoff Squire continues. Richard and I have written reams on TIG, so you’ll just have to follow the links (start here) as there’s little more we can add for now.

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