| Type | Public (LSE: CPP) |
|---|---|
| Industry | Life assistance |
| Founded | 1980 |
| Headquarters | York, UK |
| Key people | Charles Gregson, Chairman Eric Woolley, CEO |
| Revenue | £325.8 million (2010)[1] |
| Operating income | £48.7 million (2010)[1] |
| Net income | £27.2 million (2010)[1] |
| Website | www.cppgroupplc.com |
CPP Group plc (LSE: CPP) is a British-based company selling life assistance products. It is primarily based in York but has subsidiary offices in Tamworth and Chesterfield. The company also have a specialised office in Timperley which specialise in the upkeep of Airport Angel, one of its products. It is listed on the London Stock Exchange and is a constituent of the FTSE SmallCap Index.
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The Company was founded by Hamish Ogston in 1980 as a provider of card protection insurance.[2] It acquired its Homecare Insurance and Mobile Phone Insurance businesses in 2001, Metris Enhancement Services in 2003 and Leapfrog Group in 2009.[3] It was first listed on the London Stock Exchange in 2010.[2]
The Company provides protection against loss, theft and fraudulent use of financial cards, identity theft protection, phone protection insurance and travel assistance products.[4]
On 29 March 2011 the company announced that the Financial Services Authority has launched an investigation into the sale of one of its products to UK customers. The Financial Services Authority's investigation centres around allegations that CPP overstated the risk of identity theft when selling insurance for that purpose. CPP suspended the sale of the product with immediate effect with the intent of creating a new package, possibly without insurance.[5]
CPP have since launched an uninsured product called "Identity Safe" which will replace their existing product "Identity Protection".[6]