20th Dec 2012 07:00
AIM: NARS
NATIONWIDE ACCIDENT REPAIR SERVICES PLC
("Nationwide" or "the Group")
New Contracts
Nationwide, the largest dedicated provider of automotive crash repair services in the UK, is pleased to announce the renewal of two major contracts, with existing customers Hastings Direct and Zurich Insurance, worth a combined total of approximately £30m in sales a year. Both renewals are for a two year period. In addition, the Group has agreed a short term arrangement with an existing customer, Aviva PLC ("Aviva"), which is estimated to extend this relationship by around £3m in sales during the early part of 2013.
The renewal with Zurich Insurance is on similar terms and volumes as Nationwide's previous contract with the insurer and it is notable that the renewal is earlier than scheduled. Similarly, the renewal with Hastings Direct reflects commercially agreeable terms for both parties. Nationwide is optimistic of opportunities to secure additional work with both customers in 2013.
The arrangement with Aviva arose after the previous provider went into administration and reflects Nationwide's excellent relationship with Aviva's online motor insurance subsidiary, QuoteMeHappy.com, which retains Nationwide to provide an integrated service utilising the Group's call centre, mobile repair and fixed site capabilities.
Michael Wilmshurst, chief executive of Nationwide, commented,
"We are delighted to continue our excellent relationship with both Hastings Direct and Zurich Insurance where our integrated offering provides high service levels, good value and quality of repair.
The additional work that we will be undertaking for Aviva is also pleasing and is testament to the strength of our existing relationship as well as the prompt and proactive approach of our teams to deliver continuity of their customer services following the administration of one of their key suppliers."
Enquiries:
Nationwide Accident Repair Services plc | Michael Wilmshurst, Chief Executive David Pugh, Finance Director | T: 01993 701720 | ||
Biddicks | Katie Tzouliadis | T: 020 3178 6378 | ||
Alex Shilov | ||||
Westhouse Securities | Antonio Bossi Henry Willcocks | T: 020 7601 6100 |
About Nationwide Accident Repair Services plc
Nationwide provides automotive crash repair and accident administration services to the UK insurance industry, fleet and retail customers. With a national network of accident repair centres located across England, Scotland and Wales it is the largest dedicated provider of accident repair services in the UK.
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