LONDON, Sept. 15, 2003 (PRIMEZONE) -- Benfield Group Limited ("Benfield") (LSE:BFD) today announces that its wholly owned subsidiary Paragon Strategic Solutions Inc. has sold the assets of its subsidiary Unisure, Inc. ("UniSURe(R)"), a provider of reinsurance software and related services to Fiserv, Inc. (Nasdaq:FISV), a provider of information management systems and services to the financial industry. In addition, Paragon and Fiserv have entered a strategic marketing relationship that will provide Paragon and Benfield with access to Fiserv's entire line of technology tools.
Rod Fox, Chief Executive Officer of Benfield's U.S. Operations, commented: "Transferring the assets of UniSURe and entering into a strategic marketing relationship with Fiserv will allow Paragon to be even more creative and focused in delivering results-driven solutions to our clients. We see this as an opportunity to enhance Paragon's overall process and effectiveness."
Unisure, Inc. had annual sales of approximately $4,800,000 and net assets of $150,000. Gross proceeds of the sale were $2,250,000.
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Notes to Editors:
Benfield is the world's leading independent reinsurance intermediary and risk advisory business. Its customers include many of the world's major insurance and reinsurance companies as well as Government entities and global corporations. Benfield employs more than 1,600 people based in over 30 locations worldwide. The company is listed on the London Stock Exchange under the ticker symbol BFD. See www.benfieldgroup.com
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