Quindell after the completion of the Slater and Gordon deal will comprise of a range of insurance related technology businesses.
a) Connected Car and Telematics (Himex and iter8)
b) Insurance Claims Management (Quindell Enterprise Technology Solutions).
c) Insurance brokerage ( Ingenie)
The RNS dated the 30th March 2015 made it clear these have strong growth potential with the required capital to maximise returns for shareholders.
The RNS gives an indication as to the Board of Directors current thinking about how value will be maximised stating for each business they will consider retaining, disposing and separate listings. This would indicate that each is being considered as a separate business unit.
Before the EGM on the 17th April 2015 the business will need to provide more information to shareholders to enable an informed decision to be made regarding the strategy for the Technology Division and its future potential.
I would expect prior to the 17th April we will hear about the following:
1) Information about new / current contacts. For example:
a) Update on contracts in U.S. Business has 5 year agreements with at least 3 of the top 20 US Property and Casualty Insurance companies worth $200m
b) Updates on US pilots
c) Value of contract with Slater and Gordon who will be using Quindell technology to handle their new business.
d) Secured contracts with car manufacturers
The value of item (c) above will be worth more than the value the market is currently placing on the whole solutions business.
2. Potential listing on American market. See here for more information.
3. Strategy for business going forward.
This is the start of the future for Quindell. The name may change from Quindell, but the future is bright. As David Currie says “It’s a new beginning for the business”.
David Currie quote: http://www.cityam.com/212833/quindell-begins-recover-637m-law-deal