21st Oct 2014 07:22
LONDON (Alliance News) - Quindell PLC on Tuesday said a major Canadian insurance company has contracted the company under a five-year deal to provide telematics services.
Quindell did not provide any financial details of the contract, but said it is with a "top three" insurance provider in the Canadian market.
"This additional new contract with an existing major insurer client provides us with our largest Canadian telematics client to-date. Their commitment to develop multiple telematics based products and services, offered through several distribution channels, positions them for overall market leadership," said Quindell Chairman Robert Terry.
Quindell shares were up on the back of the news in early trade, rising 6.5% to 149.587 pence.
By Sam Unsted; [email protected]; @SamUAtAlliance
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