2014 Audited Full Year Results

Pro Global Insurance Solutions plc

31 March 2015

Pro Global Insurance Solutions plc (the "Group" or "Pro")

2014 Audited Full Year Results

Pro Global Insurance Solutions plc is a specialist outsourcing and consulting service provider to the global insurance and reinsurance industry. During 2014, following the demerger of its run-off business, Pro made significant progress as a standalone insurance service provider. Highlights include:

· Total Group profit, including associates and discontinued business, of £3.8 million (compared to a £33.5 million loss in 2013);

· Operating Profit* of £0.3 million (compared to an operating loss, on a pro forma basis, of £3.1 million in 2013 restated);

· Revenues of £25.8 million (up £1.2 million from £24.6 million in 2013);

· New business of £8.5 million (2013: £6.3 million; 2012: £4.0 million) - an increase of 35% over 2013;

· Direct costs were £15.7 million (down from £17.0 million in 2013) - a decrease of 7.6%.

Following the demerger of its run-off business in April 2014, Pro launched its "Client First" strategy with the key strategic goals:

· To become the number one specialist service provider addressing complex operational needs of global insurers and reinsurers;

· To achieve annual revenue of £60 million at a sustainable net margin of 15% in the medium term.

The Pro team is on track to deliver on the "Client First" strategy:

· The Pro value proposition to clients has been redefined and launched around two principal activities (consulting and outsourcing) and four client-centric business lines:

• Risk Audit and Compliance (consulting)

• Operational consulting

• Technical outsourcing

• Legacy solutions (outsourcing)

· The team has created strong sales momentum; in 2014 the Group generated £8.5 million of new business, more than offsetting the natural decline of the legacy business, whilst expanding and diversifying its client base.

· Pro's leadership and sales capabilities have been strengthened through further investment in its people, particularly in the US and Germany, which are seen as the Group's key growth markets.

· The Group has reduced its run-rate cost base by £1.0 million.

· The finalisation of the sale of the German risk carrier Hamburger Internationale Rückversicherung AG resulted in a net gain of £0.4 million and generated positive cash flows to the Group of £2.3 million. Pro retains Chiltington Group which is now fully integrated and trades under the Pro brand.

· The Group bought out the remaining stake in ASS, Assekuranz Service - und Sachverstandigengesellschaft mbH in Germany providing Pro with a fully-owned claims TPA platform.

· Pro's financial investment in Asta continues to deliver stable dividends and share of growing profits.

Artur Niemczewski, Chief Executive, commented,

"We are extremely proud with the progress made by the Pro team in 2014. We have laid strong foundations to grow the business and look with confidence to the future. The Board knew 2014 would be a hard year for Pro as it focused on restructuring the business and rebalancing the cost base following the demerger of its run-off business. In contrast, 2015 will be a year of investment in growth. The year has started with a strong sales pipeline that is well diversified across all Pro service lines. Pro is now well positioned to take advantage of opportunities in the global insurance and reinsurance market, resulting from regulatory change or growing globalisation of reinsurers."

Pro's Reports and Accounts for 2014 will be available on the Company's website (www.pro-global.com) later today.

* Operating Profit represents profit from operating activities before reorganisation & restructuring charges and dividend income

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Notes to Editors

About Pro Global Insurance Solutions plc

Pro is a specialist in the provision of operational outsourcing and consulting services, focusing solely on the global insurance and reinsurance industry. The Group's mission is to create value for our clients at each stage of their operations, by enabling them to focus on what they do best and helping them improve their operations. The Group's core purpose is to be the trusted delivery partner for the operations that matter to its clients.

Pro operates across the entire spectrum of client needs, from market entry to exit; from live to legacy business. The Group is best known for its ability to manage the operations that matter most to its clients and have been involved with some of the biggest and most complex assignments in the market. Examples include a cost reduction programme for a global reinsurer through centralisation of its operations from 15 to 2 locations and the management of over 25 legacy portfolios with collective liabilities in excess of $5bn.

 Pro adds value in four main areas:

• Risk, Audit and Compliance: internal and external audits including peer reviews and coverholder audits; providing risk management and compliance frameworks to ensure compliance within a changing regulatory environment

• Operational consulting: helping improve the efficiency and effectiveness of client operations and manage major change

• Technical outsourcing: providing underwriting, claims and technical accounting support to complement internal teams; client sectors include risk carriers, brokers and MGAs

• Legacy solutions: managing discontinued business through outsourcing or consulting to extract maximum value and enable clients to focus on core business activities; client sectors include risk carriers and brokers

Pro's people are industry practitioners with many years of experience of running often complex reinsurance and insurance operations. The Group's experienced professionals can be trusted to use their initiative, blending easily with clients' ways of working and becoming effectively an extension of their teams.

Pro is a global company, operating from offices in London, New York, Cologne, Zurich, and Buenos Aires, supported by operational centres in Gloucester (UK), York (US) and Sundern (Germany). The Group's local knowledge and global expertise ensures we provide a cost-efficient, round the clock service to support our clients' operations wherever they might be.

Pro comprises Pro Insurance Solutions Ltd, Pro IS Inc, the Chiltington Group (now trading under the Pro brand name) and STRIPE as well as Assekuranz Service-und Sachverständigengesellschaft mbH, a leading German disability claims management company. Pro also owns 30% of common equity of Asta, the leading Lloyd's turnkey managing agency.

Pro is listed on the AIM market.

For more information, visit our website: www.pro-global.com/investor-relations