CGI Group, Inc. (CGI) (TSX: GIB.A; NYSE: GIB), a leading provider of information
technology and business process services, today announced that it has reached an
agreement with The Commerce Group, Inc., the largest writer of private passenger
automobile insurance in Massachusetts, to extend their personal and commercial
automobile policy processing services agreement through December 31, 2011.
CGI has agreed to enhance the current insurance processing systems used
by The Commerce Group, Inc. in Massachusetts, and to modernize those systems to
enhance their capacity to compete in the Massachusetts marketplace. Both parties
have agreed to enter into negotiations on a new long-term agreement by October
of this year.
“We are pleased that our business relationship with CGI
will be extended through the end of 2011, ensuring the continuity and
outstanding level of service our agents and policyholders deserve in the
changing Massachusetts auto insurance market,” said Gerald Fels, The Commerce
Group, Inc.’s President, Chief Executive Officer and Chairman of the Board.
“CGI remains committed to providing The Commerce Group, Inc. with
industry leading solutions and services,” said Paul Raymond, Senior
Vice-President of the New England and Insurance Business Unit for CGI. “We look
forward to expanding on this partnership, and continuing to win and grow
together.”
About The Commerce Group, Inc.
The Commerce Group,
Inc. is headquartered in Webster, Massachusetts. Property and casualty insurance
subsidiaries include The Commerce Insurance Company and Citation Insurance
Company in Massachusetts, Commerce West Insurance Company in California,
American Commerce Insurance Company in Ohio, and State-Wide Insurance Company in
New York. Through its subsidiaries’ combined insurance activities, the Company
is ranked as the 20th largest personal automobile insurance group in the country
by A.M. Best Company, based on 2006 direct written premium information. The
Company and its insurance subsidiaries are rated A+ (Superior) by A.M. Best.
About CGI
Founded in 1976, CGI Group Inc. is one of the
largest independent information technology and business process services firms
in the world. CGI and its affiliated companies employ approximately 25,500
professionals. CGI provides end-to-end IT and business process services to
clients worldwide from offices in Canada, the United States, Europe, Asia
Pacific as well as from centers of excellence in North America, Europe and
India. CGI's annual revenue run rate stands at $3.7 billion (US$3.5 billion) and
at June 30th, 2007, CGI's order backlog was $12.4 billion (US$11.6 billion). CGI
shares are listed on the TSX (GIB.A) and the NYSE (GIB) and are included in the
S&P/TSX Composite Index as well as the S&P/TSX Capped Information
Technology and MidCap Indices. Website: www.cgi.com.
Forward-Looking Statements
All
statements in this press release that do not directly and exclusively relate to
historical facts constitute “forward-looking statements” within the meaning of
that term in Section 27A of the United States Securities Act of 1933, as
amended, and Section 21E of the United States Securities Exchange Act of 1934,
as amended, and are “forward-looking information” within the meaning of sections
138.3 and following of the Ontario Securities Act, as amended. These statements
and this information represent CGI Group Inc.’s (“CGI”) intentions, plans,
expectations and beliefs, and are subject to risks, uncertainties and other
factors, of which many are beyond the control of the Company. These factors
could cause actual results to differ materially from such forward-looking
statements or forward-looking information. These factors include and are not
restricted to the timing and size of new contracts, acquisitions and other
corporate developments; the ability to attract and retain qualified members;
market competition in the rapidly-evolving information technology industry;
general economic and business conditions, foreign exchange and other risks
identified in the Management’s Discussion and Analysis (“MD&A”) in CGI’s
Annual Report or Form 40-F filed with the U.S. Securities and Exchange
Commission (filed on EDGAR at www.sec.gov), and in CGI’s annual and quarterly
MD&A and Annual Information Form filed with the Canadian securities
authorities (filed on SEDAR at www.sedar.com), as well as assumptions regarding
the foregoing. The words “believe,” “estimate,” “expect,” “intend,”
“anticipate,” “foresee,” “plan,” and similar expressions and variations thereof,
identify certain of such forward-looking statements or forward-looking
information, which speak only as of the date on which they are made. In
particular, statements relating to future performance are forward-looking
statements and forward-looking information. CGI disclaims any intention or
obligation to publicly update or revise any forward-looking statements or
forward-looking information, whether as a result of new information, future
events or otherwise. Readers are cautioned not to place undue reliance on these
forward-looking statements or on this forward-looking information.
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For more
information:
Media
Steve Bosic
Director, Communications
and Events
978-946-3249
