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CNP Assurances
M&A Activity • Apr 16, 2025
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M&A Activity
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Issy-les-Moulineaux, 16 April 2025
CNP Assurances completes the sale of its subsidiary CNP Cyprus Insurance Holdings to Hellenic Bank Public Company Ltd
CNP Assurances SA has announced the completion of the sale of 100% of the capital of CNP Cyprus Insurance Holdings (« CIH ») to Hellenic Bank Public Company Ltd, allowing the Group CNP Assurances to re-focus its existing international footprint, while remaining committed to expansion in Europe.
CIH1 operates in both the life and non-life insurance sub-sectors in Cyprus, which represented less than 1% of CNP Assurances Group's total premium income in 2024 and in Greece, for a non-significant amount.
This sale, amounting to €182 million, has a marginal impact on CNP Assurances Group's SCR coverage ratio, around c.+0.4% pt.
1 Including in particular CNP Cyprialife, CNP Asfalistiki, CNP Zois SA and CNP Cyprus Properties Ltd
About the CNP Assurances Group
The CNP Assurances Group is a property and personal insurer with more than 8,300 employees. Its net income amounted to €1,582m in 2024. A subsidiary of La Banque Postale, the Group is no. 2 in property loan insurance and life insurance in France. It is the 5th largest insurer in Europe and the 4th largest insurer in Brazil. Its solutions are distributed in 19 countries by various partners and insure more than 36 million people in personal insurance and protection, and 13 million in retirement savings. CNP Assurances is a responsible insurer and investor (more than €400bn invested in all sectors) that works for an inclusive and sustainable society, protecting and facilitating all life paths.
About CNP Cyprus Insurance Holdings
CNP Cyprus Insurance Holdings is the second largest insurance operator in Cyprus. It offers the full spectrum of life and non-life insurance products and services through the largest network of independent agents in the country. As at 2024, it had generated €255m of gross written premiums.
Press : Florence de Montmarin (+33) 1 42 18 46 51 Tamara Bernard (+33) 1 42 18 86 19
Investors and analysts:
Céline Byl [email protected] Michel Genin [email protected] Sophie Nato [email protected]
Anne Laure Le Hunsec [email protected]