CPP continues to grow business

CREDIT card insurer CPP said that it is continuing to grow its business as it publishes its first interim management statement since floating on the London Stock Exchange.
By The Newsroom
Published 19th May 2010, 10:57 BST

The York-based group, which offers protection against lost wallets, mobile phones, keys and credit cards as well as identity theft, said it was continuing expansion through the development of existing and new business partners.

CPP said that group revenue has grown in in line with expectations. The group annual renewal rate has remained in line with prior years at around 77 per cent.

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Eric Woolley, group chief executive, said: "We are delighted to announce our first trading statement as a publicly listed company.

"In an uncertain economic environment we have grown income from new policies and maintained the group annual renewal rate in line with previous years, demonstrating the strength of our business model and the global demand for our products."

He added: "The year is progressing in line with expectations and we continue to grow our business through the development of existing and new business partner relationships. I am pleased with the progress we have made and look forward to the coming year with confidence."

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