Tipped in press again |
Broker upgrade |
 Guardian - 22/6/10:
Households buying car, house and travel insurance will see premiums rise after the new chancellor announced significant increases to insurance premium tax (IPT).
Currently, people buying general insurance products including car and home insurance pay a 5% levy as part of the overall price.
But from 4 January next year they will pay 6% tax. The increase will mean the average car insurance buyer will now be paying £18 a year in tax on a typical £300 premium.
Young drivers who pay much higher premiums will be hit hardest. Some will see their car insurance bills rise by £15 a year next year. The increase comes at a time when drivers have already seen their premiums go up as insurance costs have risen over the last 12 months.
Those buying travel insurance, and used car and electronic goods warranties which until now incurred IPT at 17.5% will now be taxed at 20%. Likewise, tax on gas central heating insurance policies will see an increase to 20%, a typically rise of £4 a year.
The move, which was widely expected, was not as bad as feared by the insurance industry, which had predicted there could be a doubling of the general insurance rate to 10% a move that would have raised £2.3bn.
Eric Galbraith, chief executive of the British Insurance Brokers' Association (Biba), expressed disappointment that the government had chosen to go ahead with an increase which has been described as a tax on the prudent those who buy insurance.
"Biba's research last year demonstrated that businesses and consumers were reducing insurance cover as a result of the recession, and we are concerned that increases to insurance premiums as a result of IPT could lead to even further underinsurance or even a lack of insurance protection. The last thing people need in a financial crisis is a higher insurance bill," he said.
Simon Douglas, director of AA Insurance, which publishes the influential quarterly British Insurance Premium Index, said the rise won't be welcomed by people buying home and car insurance, but is less painful than it could have been. "I am relieved that the increase wasn't any greater than that and it shows that the chancellor has been listening to our concerns.
"Car insurance premiums, especially, are rising very quickly as insurers struggle to replenish reserves, depleted by underwriting losses. I believe we will see premium increases of up to 20% this year for the second year running. My greatest concern was that a large increase in IPT would have led to large numbers of people attempting to drive their cars without insurance."
IPT was introduced in 1994 at a flat rate of 2.5%. It was increased on general insurance products to 4% in 1997 and to 5% two years later. In 1997 a second higher band of 17.5% was added to cover travel, motor and electronic policies. |
Looks like that previous high going to get busted soon imo.
Friday FTSE250 entry or before I suspect.
CR |
screaming past the recent highs - going to test the all time high soon imo.
CR |
Bought today - can see these getting a clip on when the trackers start buying next Friday.
CR |
Investment Week - 24/5/10
I do like the new issues market, and over the past three months we have invested in a couple. The biggest is CPP Group CPP stands for Card Protection Plan. It is a York-based company, listed in March with about £500m market capitalisation. It is a world leader and I like world leaders in niche markets. |
Mail on Sunday - 4/4/10:
Midas verdict: CPP floated at 235p and is now trading at 256p so it has gained some ground even in the past few weeks. But there should be plenty more momentum in the shares.
Over the past few years, the company-has expanded into several new countries, such as Turkey, Mexico, Hong Kong, Singapore and India. These investments should bear fruit in the next two to three years and CPP also expects to start operating in China this year.
The company describes itself as offering 'life assistance' and, as people globally become more affluent, lead more complex lives and have less time to manage their affairs, they need all the assistance that they can get.
CPP is a robust business at an interesting point in its development. Buy |
Tipped by midas sunday mail. |
Tempus - 25/3/10:
CPP
Like that of Homeserve, its mid-cap peer, the business of CPP Group is built on worry. The York-based company sells policies that cover consumers against the loss or theft of keys, credit cards, passport or mobile phone - or even their identity by online fraudsters.
But there was scant nervousness among investors, who yesterday sent the shares 11 per cent higher on their stock market debut, valuing CPP's equity at £440 million and the remaining stake of Hamish Ogston, its founder, at £270 million.
True, the shares were priced towards the bottom end of their range. But CPP, founded 30 years ago as Card Protection Plan, has a strong track record of growth. Over the past three years, revenues and operating profits have risen at a compound annual rate of 14 per cent and 22 per cent, respectively - not bad for a financial services group that draws 70 per cent of its sales from the UK.
The story from here is to reduce that domestic exposure yet further. The company is already established in continental Europe and America, but has spent the past five years entering emerging markets such as India and Mexico and is now taking its first steps in China. The growth of the world's bankable population should continue to work in CPP's favour. So, too, should the proliferation of digital and virtual data, and CPP's ability to bolt on additional services, such as card activation and travel assistance. The other comfort is the strength of CPP's corporate partners - the likes of Barclays, HSBC and Santander, who are incentivised to offer its services - and net debt of just £20 million.
At 260p, the shares trade at 14 times 2010 earnings (which are forecast to grow 15 per cent in 2011), and provide a near 3 per cent dividend yield. Buy on weakness. |
hxxp://www.cppgroupplc.com/index.shtml
hxxp://www.home3assistance.co.uk/index.html
hxxp://www.theleapfroggroup.co.uk/Default.aspx
CPPGroup Plc (CPP) is a leading provider of Life Assistance products and services with approximately ten million live policies in 14 different countries.
These products and services are designed to meet consumer needs across a range of areas relating to everyday living, in particular credit and debit card ownership, personal identity, mobile telephones, travel and the home.
The Group primarily focuses on providing customer assistance during stressful life events such as the loss or theft of a wallet, purse, mobile phone or keys, as well as providing support in the event of identity theft. The Group continues to widen its product and services portfolio to capitalise on the evolving and growing Life Assistance market.
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ISDX: |
What a stunt Mr. Scott has pulled. A good deal for both companies shareholders but CI traders ones do not seem to see it yet. |
Well, well...What a good set of results that was but is that the peak?
I should have hung on in but never like companies that issue vast amount of options unless they are pure performance rated. |
As CI Traders this could also suffer from the fallout from Mr.T.Scott`s situation re:A Land Grab on the waterfront in Jersey in which he has an interest. I got out by the way after options granted. |
Awarding themselves more options does take the p... at this point in time. Just noticed the announcement. |
Ack. Skyship.
However, since posting on 2nd June, you no doubt noticed these have gone up.
NAV are always questionable, however a company with ideas and working well is another thing. This one is doing the business for me for now, having done a lot of research.
I will take a look at the others out of interest and look how they have performed recentley and see if they have returned such growth in such a short period of time.
Thanks,
CT. |
Clocktower - I play commercial property stocks on a regular basis, so had a glance at CPP following your post. Not overstruck by this one as for me the sole purpose for buying quoted property companies is to buy assets at a discount - not at a premium. Personally I prefer CLI, DJAN & IRE - trading at 40% - 60% NAV discounts. Long-term investments only. |
Since flagging up, it seems there is little interest, anyone else on this? |
The recent results have shown what a solid company this is imho.
Having looked at all information available, I just thought I would pop it up on the board to see if anyone else holds and views.
My view is that it will continue to peform and should bring rewards for long term investment. |
thanks very much for that, dougal. if only we could find a similar company in the telecoms sector... |
You think that's bad, check out TCSC, price today 71.50p their NAV is c. 160p, they've bought back 10% of outstanding shares this last year, and they are on a pe of 10. Actually if you overlay the graphs you can see its a sector performance thing, just totally unloved! |
does anyone have any thoughts on this company? can't understand why impressive figures released this week (and mention of the "i" word) failed to stimulate the price. also, will a buyback by the management be good for an investor? |
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