CPP GROUP, one of York's biggest private employers, has grown its emerging markets since listing on the London Stock Exchange.

In its first interim management statement to the stock exchange, covering the period from January 1 to date, the York-based provider of insurance against credit card, mobile phone and identity fraud said it had developed new partnerships to expand its product range and international markets.

In an important first small step in establishing CPP in China, the business has signed a contract with Guangdong Development Bank for the wholesale provision of card protection within their new premium card offering.

It has also signed three further contracts in India, taking its total number of business partners in India to nine.

It started selling card protection to HSBC customers in Mexico in 2009, which is also growing well, it said.

In the UK, CPP won a contract to provide mobile phone insurance for RBS and NatWest current account packages in March.

Group chief executive Eric Woolley, said the fundamental market drivers of the business continue to be favourable as the growth of fraud, in particular identity fraud, shows no sign of slowing.

He said: “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.”

The business, which employs more than 1,000 people at its York headquarters, completed its listing on the London Stock Exchange on March 24, raising net proceeds of £26 million.

It used the funds to pay down debt, which stood at £14 million at April 30, compared to £49 million at December 31, 2009.