News: FIG Freedom Insurance Group Says Reached Agreement In Principle To Transfer Policy...

April 15 (Reuters) - Freedom Insurance Group Ltd (FIG) :

• REACHED AN AGREEMENT IN PRINCIPLE TO TRANSFER ITS POLICY ADMINISTRATION BUSINESS TO A THIRD PARTY
• FREEDOM INTENDS TO EXIT SPECTRUM WEALTH MANAGEMENT, POST COMPLETION OF TRANSFER OF ITS ADMINISTRATION BUSINESS
• POST ALLOWANCE FOR CUSTOMER REMEDIATION, FREEDOM EXPECTS TO RECEIVE PAYMENT OF ABOUT $5MLN
• AFTER EXIT OF SPECTRUM WEALTH MANAGEMENT, FREEDOM WILL HAVE EXITED ALL ITS OPERATING BUSINESSES
• FREEDOM INSURANCE-POST EXIT OF OPERATING BUSINESSES CO TO FINALISE REGULATORY OBLIGATIONS & THEN CONSIDER RETURN OF EXCESS FUNDS TO SHAREHOLDERS

Source text (http//reut.rs/2v2kz4R)

(([email protected];))