ICT Group Loses Aegon Outbound Business

ICT Group will no longer provide outbound telemarketing services to the worldwide insurance group Aegon N.V. in North America, the teleservices agency said yesterday.

The loss of the outbound calling business will cost ICT Group $10 million to $12 million in revenue in 2002, the company said. The Aegon outbound business will wind down in the second quarter of this year.

ICT Group will continue to provide Aegon with inbound customer service call support in North America. The company also will continue providing telesales and customer service support to Aegon in Europe and Australia.

ICT Group said it expects to replace the lost business through 2002, and that it already has a growing backlog of business due to increased demand for its services. The company did not elaborate further on the loss of the Aegon business.

The agency reconfirmed its previous projections of $290 million to $300 million in revenue for 2002. ICT Group also said that it still expects to generate $68 million to $70 million in revenue during the first quarter of this year.

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