CGI Group Inc. (CGI), is pleased to announce the signing of a seven-year
agreement valued at between US$45 and $75 million, to provide Universal
Insurance of North America, headquartered in Sarasota, Florida, with policy and
accounting business process services (BPS). CGI will process Universal's
personal lines (book of business) including homeowners, dwelling-fire, auto, and
umbrella in Texas and Florida. CGI will continue to support Universal’s business
processing needs as they expand their services into new markets.
“We've
been extremely impressed with CGI’s expertise, professionalism, and service
delivery. CGI’s team is strong from both a business and technical perspective
and have approached our relationship as true partners,” said Universal Insurance
president, Rick Espino. “We are confident that as we grow, CGI will support our
commitment to provide superior service to our agents and policyholders.”
Vice-president of CGI’s insurance business services, Karen Furtado
added: “Universal is an amazing success story and we're proud that they have
chosen CGI to partner with them in the next phase of their business plan. In
order to focus on core business strategies, mid-size insurers are partnering
with BPS outsourcers like CGI. Outsourcing will give Universal the advantage of
providing their partners and clients with best in class services, while
capitalizing on the cost advantages generated by economies of scale.”
As
part of this agreement, CGI will open a processing facility in Tampa to support
Universal Insurance and other Florida-based insurance customers. CGI will
initially be hiring 50 professionals and expects this center to grow to over 200
professionals over the next two years.
CGI’s Insurance Business Services
provides end-to-end services across North America to the insurance industry,
serving 75 of the top 100 insurers. CGI joins technology with the management of
insurance products to include claims, underwriter, actuarial, loss prevention,
targeting the property casualty insurance industry, life and health, and
accident/sickness sectors. Over 4,300 CGI professionals serve the insurance
sector.
About CGI
Founded in 1976, CGI Group Inc. is the 8th
largest independent information technology and business process services firm in
the world. CGI and its affiliated companies employ approximately 25,000
professionals. CGI provides end-to-end IT and business process services to
clients worldwide from offices in Canada, the United States of America (“US”),
Europe, Asia Pacific as well as from centers of excellence in Canada, the US,
Europe and India. CGI's annualized revenue run rate is currently CDN$3.6 billion
(US$3.1 billion) and at December 31, 2005, CGI's order backlog was CDN$12.9
billion (US$11.1 billion), or $14.0 billion (US$12 billion) including the BCE
contract extensions signed in January 2006. CGI’s shares are listed on the TSX
(GIB.SV.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.
CGI 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 may be
“forward-looking information” within the meaning of sections 138.3 and following
of the Ontario Securities Act. These statements represent CGI Group Inc.’s
current 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. Investors are
cautioned against placing undue reliance on forward looking statements or
forward looking information.
These factors include and are not
restricted to the timing and size of contracts, acquisitions and other corporate
developments; the ability to attract and retain qualified employees; 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 Group Inc.’s 2005
Annual Report or 2005 Form 40-F filed with the SEC, the Company’s 2005 Annual
Information Form and in the Company’s MD&A for the first quarter of fiscal
2006 filed with the Canadian securities authorities, 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 may be forward looking information. Except as required by law,
CGI disclaims any intention or obligation to update or revise any
forward-looking statements, whether as a result of new information, future
events or otherwise.
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CGI:
Investor relations
Lorne Gorber
Vice-president, investor relations
Lorne.gorber@cgi.com
(514)
841-3355
Media relations
Eileen Murphy
Director, media
relations
Eileen.murphy@cgi.com
(514) 841-3430
