DGAP-News: COR&FJA AG: COR&FJA streamlines its spe

DGAP-News: COR&FJA AG / Key word(s): Strategic Company Decision/Restructure of Company COR&FJA AG: COR&FJA streamlines its spectrum of products and services 30.07.2013 / 08:34 --------------------------------------------------------------------- COR&FJA streamlines its spectrum of products and services Efforts are focused on existing foreign markets - restructuring of the subsidiary COR&FJA Metris is on track (Leinfelden-Echterdingen, 30 July 2013) - COR&FJA AG is going to adjust its spectrum of products and services considerably. As a result, the non-life insurance solution that was offered until now, COR.FJA P&C, will no longer be marketed actively and product development in this area will be discontinued. This is the company's response to the fact that the aforementioned product has not been able to position itself successfully on the market despite considerable endeavours. In future, the area of non-life insurance will be covered within the framework of the collaboration with msg systems AG. Furthermore, COR&FJA's range of internal consulting services will see a greater focus on product-related consulting, actuarial and process consulting and migration. This means that the expansion of in-house expertise and human resources capacities in the area of product-independent management consultancy services is no longer planned. In addition, a decision has been taken to consolidate efforts on existing foreign markets rather than entering new ones and to continue optimising the profitability of business areas in the markets where the company already operates in Europe and the USA. Meanwhile, the restructuring of COR&FJA Metris GmbH is proceeding according to plan and will be completed by the end of the year. The staff capacities at this subsidiary were adjusted to the economic situation at the end of April 2013. The subsidiary also concluded an agreement with msg systems AG which envisages the two companies joining forces in terms of both content and the marketing of their respective ranges of complementary claims management solutions. COR&FJA is anticipating that this will generate greater demand on the market. The objective of all these measures is to move COR&FJA AG into a significantly more profitable position by 2014 at the latest. About COR&FJA The COR&FJA Group is one of the leading software and consulting companies for the European financial services industry, focusing on insurance companies, banks and providers of company pension funds. Its service spectrum ranges from standard software and the provision of consultancy services to the handling of IT operations (i.e. application service providing). The COR&FJA Group has its head office in Leinfelden-Echterdingen and offices in Munich, Aachen, Düsseldorf, Frankfurt, Hamburg, Kiel, Cologne and St. Georgen, as well as subsidiaries in the Netherlands, Denmark, Austria, Switzerland, Slovakia, Slovenia, Poland, the Czech Republic, Portugal, Spain and the USA. It currently employs a workforce of nearly 1,200. Contact COR&FJA AG Corporate Communications Humboldtstra�e 35 70771 Leinfelden-Echterdingen, Germany Tel. +49 711 94958-0 E-mail: presse@cor.fja.com Internet: www.cor.fja.com End of Corporate News --------------------------------------------------------------------- 30.07.2013 Dissemination of a Corporate News, transmitted by DGAP - a company of EQS Group AG. The issuer is solely responsible for the content of this announcement. DGAP's Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------- Language: English Company: COR&FJA AG Humboldtstra�e 35 70771 Leinfelden-Echterdingen Germany Phone: +49 (0)711 94958-0 Fax: +49 (0)711 94958-49 E-mail: investor.relations@cor.fja.com Internet: www.cor.fja.com ISIN: DE0005130108 WKN: 513010 Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin, Düsseldorf, Hamburg, München, Stuttgart End of News DGAP News-Service --------------------------------------------------------------------- 223304 30.07.2013