RL360 Group° has completed the acquisition of CMI Insurance Company Ltd from Lloyds Banking Group. Chief Executive, David Kneeshaw, discusses the acquisition of CMI and the future of the RL360° Group.

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TRANSCRIPT:

DAVID KNEESHAW, RL360° CHIEF EXECUTIVE: Good Morning.

You may remember, back in May, I announced that RL360° had agreed in principle to purchase Clerical Medical International (CMI) from Lloyds Bank. Well, that process has now run its course. All the regulatory approvals are in place, all the legal documents have been approved and signed and the money has been transferred so as of Monday night the 30th of November RL360° became the proud owner of CMI.

For RL360° customers there will be no change, life will carry on as normal. For CMI customers there will be small changes over the next few months. But I need to point out at first base that all customers terms and conditions and rights are completely unaffected. The changes that take place are about how your customers are looked after.

Firstly, we planned during the first half of 2016 to move all staff up to the RL360° building, that should complete by June 2016.

Secondly, we plan to deploy RL360° systems to the benefit of CMI customers and advisers. This we believe will make for a more automated flexible and helpful set of systems that customers and advisers can use.

Thirdly, we plan to keep all the people that look after you and for them to move up to the building with us and last the brand over time will change and we will announce that well in advance of any changes but sometime during 2016 CMI customers will come under the RL360° brand. Together I believe RL360° and CMI are stronger companies.

If you have any questions at all please ring or contact your usual contacts they remain the same.

Thank you all for your continuing support.

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