Controversial insurer returns

A SHAMED insurer is preparing to plunge back into the UK market after returning to profit.

CPP Group made £3.4m in 2017, up from a £1.9m loss a year earlier, as a turnaround bid continues after CPP almost collapsed following a huge mis-selling scandal which saw it fined £10.5m in 2012.

It now plans to expand cover for cancelled flights and ramp up a cyber-security protection system. Founder Hamish Ogston resigned but still has a 42pc stake.

He brought in current boss Jason Walsh, who yesterday said he rarely talks to Ogston but denied a rift, saying: ‘He’s letting me and the board run the business.’

There was no dividend in 2017. Shares rose 2pc, or 0.25p, to 13p.