CHICAGO-BASED CNA RENEWS PROCESSING CONTRACT WITH CGI
Leading insurer CNA and CGI today announced the renewal of a contract according to which CGI will provide CNA with applications support, maintenance and full policy processing services for its Massachusetts personal and commercial automobile insurance operations. All dollar amounts are in U.S. dollars unless stated otherwise.
The contract agreement, extending over a five year period, is expected to generate more than $13 million for CGI over its term. Leading insurer CNA and CGI today announced the renewal of a contract according to which CGI will provide CNA with applications support, maintenance and full policy processing services for its Massachusetts personal and commercial automobile insurance operations. All dollar amounts are in U.S. dollars unless stated otherwise.
The contract agreement, extending over a five year period, is expected to generate more than $13 million for CGI over its term.
"We have renewed our partnership with CGI for several reasons, including the fact that they are knowledge management experts in regard to Massachusetts automobile insurance," said Andy Carpentier, Senior Vice-President & Chief Operating Officer for Massachusetts Personal Insurance. "Over the years, we have built a close business relationship and value the professional support which they provide."
Robert Steel, CGI's Senior Vice-President and General Manager responsible for U.S. operations, added that: "CGI is delighted to further extend its long-standing business ties with CNA. We will continue supporting their IT needs with solutions such as CollaborativeEdge, our state-of-the-art web-based technology which allows CNA to create even better delivery channels for independent agents."
CNA Financial Corporation (NYSE: CNA) and its subsidiaries (CNA) had 1998 revenues of $17.1 billion. CNA ranks among the top 10 U.S. insurance groups and serves individuals and businesses with a broad range of insurance products and insurance-related services. CNA products and services are marketed through multiple distribution channels, including independent agents, brokers, general agents and direct sales. Since 1897, CNA has built on a foundation of financial strength, stability and commitment to customers and business partners. CNA is a registered service mark, trade name and domain name of CNA Financial Corporation.
CGI is the fifth largest independent information technology consulting firm in North America and the largest in Canada, based on its revenue run rate of $1 billion. The company's order backlog totals approximately $5 billion. CGI has 10,000 professionals and provides end-to-end IT services and business solutions to 2,500 clients in the United States, Canada and 20 countries around the world. CGI's shares are listed on the New York Stock Exchange (GIB), as well as on the Toronto and Montreal exchanges (GIB.A). They are included in the Toronto Stock Exchange's TSE 300 Composite and TSE 100 indexes. Web site: www.cgi.ca.
All statements contained in this or any other press release of CGI Group Inc., or in any document filed by the Company with the U.S. Securities and Exchange Commission, or in any other written or oral communication by or on behalf of the company, that do not directly and exclusively relate to historical facts, constitute "forward looking statements" within the meaning of the U.S. Private Securities Litigation Report Act of 1995. These statements represent the Company's expectations and beliefs, and no assurance can be given that the results described in such statements will be achieved.
This press release may contain forward looking statements that involve a number of risks and uncertainties, including statements regarding the outlook for the company's business and results of operations. There are a number of factors that could cause actual results to differ materially from those indicated. Such factors include, without limitation, the various factors set forth in the Company's annual report.
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Director, Investor and Media Relations