RiIG expects lower loss in 2010

Claims management firm Resources in Insurance Group (RiIG) expects to make a lower loss for the full-year 2010 than it did in 2009. The results will be released later this month.

The company has also revealed that it turned "a small profit" in the first quarter of 2011. "This improvement mirrors the impact of new business mandates from existing and new clients gained during the last quarter of 2010," the company said in a statement.

RiIG made a loss after tax of £549,269 in 2009, an improvement of 59% over the £1.33m loss it made in 2008. In the first half of 2010, the company made a loss after tax of £150,466, compared with a loss of £307,030 in the same period of 2009.

“I am delighted to report on today’s further improvement, following the Board and Group restructure in 2008," said RiIG executive chairman John French. "The board is encouraged by future prospects as a result of new products and services that have been developed and introduced. The Group remains focused on developing an innovative suite of products and services to the insurance profession in areas of claims management.”