ALLIED GROUP SUBSIDIARY AND EDS SIGN MARKETING AGREEMENT
ALLIED GROUP SUBSIDIARY AND EDS SIGN MARKETING AGREEMENT DES MOINES, Iowa, May 22 /PRNewswire/ -- Allied Group, Inc.
(NASDAQ: ALGR) today announced that Allied Group Information Systems, Inc. (AGIS), a subsidiary, and EDS will jointly market software and information technology services to the property-casualty insurance market.
Under a Strategic Business Alliance Agreement, AGIS and EDS will jointly pursue business opportunities nationwide that combine applications of AGIS' insurance software products and EDS' systems integration, management, and consulting expertise. Last year, EDS was the largest provider of information technology services to the insurance industry, including the property-casualty, life and health insurance segments. EDS has operations in 30 countries, employs more than 70,000 people and is the leader in applying information technology to meet the needs of businesses and governments around the globe. Stock reflecting EDS' performance is traded on the New York Stock Exchange under the symbol GME. EDS reported revenues of $7.1 billion in 1991. In 1991, AGIS and its subsidiaries had $24 million in revenues and $2.6 million in operating profits. Through its direct sales force, AGIS markets and licenses property-casualty insurance software to property- casualty insurance companies nationwide. AGIS also provides consulting services and software maintenance services. AGIS' subsidiary, the Freedom Group, Inc., licenses statutory accounting insurance software to property-casualty and life insurance companies on primarily a direct sales basis. Allied Group, Inc. is a regional property-casualty insurer specializing in personal lines. The company uses independent agencies, exclusive agencies, and direct response marketing to offer products in central and western states. -0- 5/22/92 /CONTACT: Mary Carol Coffman of Allied Group, 214-604-1985/ (ALGR) CO: Allied Group, Inc.; Allied Group Information Systems, Inc.; EDS ST: Iowa IN: INS SU:
KD -- NY060 -- 3492 05/22/92 17:28 EDT
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|Date:||May 22, 1992|
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