Positive outlook at listed financial services provider

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CPP Group, a multinational provider of personal protection and insurance products and services, has reported good progress during quarter three.

The Leeds-headquartered company says its Indian business has recovered strongly during the quarter, following the national lockdown in April and May, which is expected to provide momentum for a good trading performance in quarter four.

Globiva, which is CPP’s business process management company, has continued to grow during the period.

CPP Group adds the renewal performance in its UK and European back book businesses has remained robust which continues to provide the Group with reliable, albeit reducing, cash flows.

It notes: “The Group’s performance in quarter three and positive outlook gives the Board confidence that the company is trading in line with market expectations for the full year.”

Also this morning, the business has confirmed that Mark Hamlin and Timothy Elliott will be stepping down from the Board and their positions as non-executive directors and leaving the company with effect from 30 November 2021.

The Board plans to appoint two new independent non-executive directors as soon as possible and will start the search immediately.

Chairman, David Morrison, said: “I would like to thank Mark and Tim for their significant contributions to the progress that has been made by the company over the last few years. I wish both of them all the best for their future endeavours.”

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