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Trading update and Customer Changes

Investor News /

Press Release 18 February 2016

Personal Group Holdings PLC

(“the Company”, “Personal Group” or “PGH”)

Trading update and Customer Changes

General Trading update

 

The business continues to perform well with growth in new sales, top line revenue and bottom line profit. In addition, Let’s Connect, a leader in the home technology salary sacrifice market which operates alongside and complements the Company’s core insurance business, has seen significant growth in sales and profit in 2015 following its acquisition in 2014.

Overall the Group performance in 2015 was in line with expectations.

Customer Changes

The Company also announces that they have been informed by Royal Mail Group (“RMG”) that it intends to change its customer relationship with Personal Group. RMG is consolidating its medical plan provision to its workforce from April 2016 and this change will affect the Company.

From March 2016, the Company will no longer make its core insurance products available to RMG employees. Continuity of cover for existing policyholders will be ensured with RMG continuing to collect PGH policyholders’ premiums as normal through payroll deduction. This will cease by the 31 March 2017. Through this period, Personal Group will work with RMG to effect an orderly transfer of premium collection from payroll to direct debit collection for policyholders that choose to continue with their cover.

At the same time, the Company announces that it is in advanced stages of negotiating an additional trading relationship with RMG through its Let’s Connect Technology Salary Exchange division. Following a successful competitive tender process, this contract will offer eligible RMG employees PGH’s Salary Exchange Technology programme. This initial contract is expected to have a duration of four years.

Mark Scanlon, Chief Executive of Personal Group commented: “Royal Mail employees are some of our longest and most loyal insurance customers going back more than 25 years and for that we are very grateful. Whilst our relationship will change and we will no longer be offering our insurance products to future RMG employees, we are delighted to be in the process of securing an additional trading relationship with RMG through PGH’s Let’s Connect business.”

-ENDS-

For more information please contact:

Personal Group Holdings Plc

Mike Dugdale – Chief Financial Officer +44 (0)1908 605 000

 

Cenkos Securities Plc

Max Hartley / Stephen Keys (Nomad) +44 (0)20 7397 8900

Russell Kerr (Sales)

 

Media enquiries:

Abchurch Communications

Quincy Allan / Alex Shaw +44 (0)20 7398 7700

quincy.allan@abchurch-group.com

www.abchurch-group.com

Contact us

Tel: 0800 542 5930

 

If you need help with a claim or you have any query about your policy, please call 0800 542 5930
or email crm@personalgroup.com

Or log onto the Gateway

 

If you want to find out more about Hapi, give us a call anytime on 0333 0058022 or email us at hellohapi@personalgroup.com.

If you’d rather we call you, fill out the form below and we will be in touch.

 

 

Address

John Ormond House
899 Silbury Boulevard
Central Milton Keynes
Buckinghamshire
MK9 3XL

Click here for a map.

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Tel: 0800 542 5930

Address

John Ormond House
899 Silbury Boulevard
Central Milton Keynes
Buckinghamshire
MK9 3XL

Click here for a map.

Social Channels

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