(Alliance News) - CPPGroup PLC on Monday said it has partnered with insurance brokers Arthur J Gallagher & Co for the provision of its new cyber product.
The stock was trading 19% higher at 4.02 pence each on Monday afternoon in London.
The partnership will see CPP provide its cybersecurity solution to small business clients of Gallagher's UK Retail division.
The cybersecurity product is designed to cater to the needs of small and medium-sized business enterprises, CCP noted, adding that it serves as an addition for clients purchasing package insurance provided through the Acturis Group insurance administration and trading platform.
Acturis is an insurance software-as-a-service provider.
In October, CCP launched a new cyber insurance policy available on the Acturis platform and offered by CPP Secure, the organisation's UK insurance arm.
"It is fantastic to bring Gallagher on board as a partner. It gives us a strong footprint in the UK broker market, which we will continue to build upon. It also demonstrates the scale of the commercial opportunity provided by our product launch on Acturis, which has opened us up to a large network of brokers," said CPP Chief Executive Jason Walsh.
By Ife Taiwo; ifetaiwo@alliancenews.com
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