News Column

Pro Global Chief Executive To Warn Of Hard Year Of Restructuring

June 19, 2014

Samuel Agini

LONDON (Alliance News) - Pro Global Insurance Solutions PLC, the listed part of recently demerged Tawa PLC, is looking at a hard 2014 as it focuses on restructuring the business and taking control of its cost base, Chief Executive Artur Niemczewski will tell shareholders at the company's annual general meeting Thursday.

Niemczewski, who has been the company's CEO since January, is set to report to shareholders on what has been done since his appointment, as well as detailing Pro Global's strategy.

Pro Global will target GBP60.0 million in revenue in the medium term by growing its client base in the insurance and reinsurance industries. It will target a sustainable margin of 15%, by bringing costs in line with revenue.

Niemczewski will tell shareholders of a plan for Pro Global to become a specialist service provider, addressing complex operational needs of global insurers and reinsurers.

Tawa completed its demerger in April in a move that split its risk carrier and service divisions into two independent groups.

Pro Global shares were untraded Thursday. They were last quoted at 11.48 pence.

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Source: Alliance News

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