Personal Group Holdings PLC (LON:PGH) announced that it has secured a three-year contract extension with Royal Mail PLC (LON:RMG).

The AIM-listed firm said it is “a strategic win” as it continues its long-term relationship with Royal Mail through their salary sacrifice technology scheme but also allows it to offer insurance policies to the postal delivery firm’s circa 140,000 employees.

READ: Personal Group weathers the COVID-19 storm to grow profits and revenues

The company said it has developed a digital solution that will integrate into Royal Mail’s existing benefits platform, giving their entire workforce the ability to apply for insurance products online as well as via a traditional face-to-face and roadshow approach.

Personal Group is an employee services business, working with employers to drive productivity through better employee engagement and a more motivated workforce.

“Our purpose around protecting the unprotected has clearly resonated with our core market, as we are delighted to announce a 3 year deal with Royal Mail Group which has consolidated and expanded our relationship, to provide insurance services and continue supplying technology through the salary sacrifice scheme to their 144,000 employee workforce via our traditional face-to-face model, roadshows and digitally,” Personal Group chief executive Deborah Frost said in a statement.

Personal Group shares advanced 3% to 266p late on Thursday.