GBGI Limited Clarification on trading update (4163W)
14 November 2017 - 6:03PM
UK Regulatory
TIDMGBGI
RNS Number : 4163W
GBGI Limited
14 November 2017
14 November 2017
GBGI Limited
("GBGI" or the "Company" and, together with its subsidiary
undertakings, the "Group")
Clarification on trading update
GBGI Limited (AIM: GBGI), a leading integrated provider of
international benefits insurance, provides a clarification on the
trading update for the fiscal year ending 30 June 2017, released on
18 September 2017 (the "Trading Update").
The Company announced in the Trading Update that gross written
premiums ("GWP") exceeded US$200m for the full year. This figure
was based on an internal key performance indicator measure of GWP
which includes fronting commission and ceding premium. Fronting
commission and ceding premium are not included in GWP on an IFRS
reporting basis.
To clarify this statement in the Trading Update, the Company
announces that it expects to report GWP on an IFRS basis for the
fiscal year ended 30 June 2017, as approximately US$183m compared
to US$153.6m for the prior year, an increase of over 19%.
The trading update of 18 September 2017 remains otherwise
unchanged.
For further information please contact:
GBGI Limited
Bob Dubrish (CEO) +1 949 421 3180
Eric Dickelman (CFO) +1 949 421 3390
Canaccord Genuity (Nominated
Adviser and Broker) +44 (0)20 7523 8000
Sunil Duggal
Andrew Buchanan
Emma Gabriel
Instinctif Partners (Financial
PR)
Giles Stewart
Rui Videira
Lewis Hill +44 (0)20 7457 2020
Notes to Editors
GBGI is a leading integrated provider of international benefits
insurance, operating globally across over 120 jurisdictions.
Trading principally as "The Global Benefits Group" or "GBG", the
Group distributes and underwrites health, life and disability, and
travel insurance, with a client base that spans multinational
corporations, expatriates, local HNWIs, international schools,
non-profit organisations and international students. GBGI is a
fully integrated insurance group providing services from policy
sales to claims administration and servicing and is committed to
delivering high levels of customer service. GBGI is incorporated in
Guernsey.
This information is provided by RNS
The company news service from the London Stock Exchange
END
FURFFUSMLFWSEIF
(END) Dow Jones Newswires
November 14, 2017 02:03 ET (07:03 GMT)
Gbgi (LSE:GBGI)
Historical Stock Chart
From Apr 2024 to May 2024
Gbgi (LSE:GBGI)
Historical Stock Chart
From May 2023 to May 2024