REG - CPPGroup Plc - Statement re Homecare Insurance Limited <Origin Href="QuoteRef">CPPG.L</Origin>

CPPGroupAnnouncement

16/05/2017 10:30

RNS Number : 2845F
CPPGroup Plc
16 May 2017
16 May 2017
CPPGroup plc
Statement re Homecare Insurance Limited
CPPGroup Plc (CPP or the Group) announces that, as part of the Group's planned strategy to place the back book business of Homecare Insurance Ltd (HIL) into a managed decline, the Prudential Regulation Authority has approved HIL's application to lift the current capital and asset (but not trading) restrictions placed on HIL in the Voluntary Variation of Permissions (VVoP) of November 2012.
This releases around 15m for potential distribution within the wider Group, whilst fully providing for HIL's current liabilities.
For further information please contact:
CPPGroup Plc
Jason Walsh, Chief Executive Officer
Tel: +44 (0)1904 544500
Investec Bank plc
Nominated Adviser and Corporate Broker
Sara Hale; James Rudd; Carlton Nelson
Tel: +44 (0)20 7597 5970
Maitland
Neil Bennett; Daniel Yea
Tel: +44 (0)20 7379 5151
Notes to Editors
CPP provides a range of assistance based services to customers in the UK & Ireland and in a number of international markets across Asia, Europe and Latin America. The Company's core propositions provide peace of mind for customers covering a range of areas including lost and stolen credit cards, identity theft, insurance of mobile devices, and passport assistance. 
For more information on CPP visit www.cppgroupplc.com
REGISTERED OFFICE
CPPGroup Plc
Holgate Park
York
YO26 4GA
Registered number: 07151159

This information is provided by RNS
The company news service from the London Stock Exchange
  END
STRUNUKRBKAVARR