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CNP Assurances — M&A Activity 2020
Sep 14, 2020
1208_iss_2020-09-14_e8a40690-7db3-4c2f-8ace-dc55d9e98a9c.pdf
M&A Activity
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Press Release
Paris, 14 September 2020
Partnership agreement signed in Brazil between Caixa Seguradora and Brazilian Post Office, Correios
CNP Assurances has announced the signing of a ten-year non-exclusive agreement in Brazil between Caixa Seguradora and Brazilian Post Office Correios for the distribution of capitalization and dental insurance products.
As the operator of Brazil's national postal service, Correios is a state-owned company that provides communication and logistics services for businesses and individuals. It has more than 6,500 branches and is present in each of the country's 5,570 municipalities.
The agreement enables CNP Assurances to continue with its strategic development in Latin America through a multi-partner approach.
It does not provide for any payment by Caixa Seguradora and entered into effect on 3 September 2020 on the date it was signed.
"CNP Assurances is delighted to have signed this new agreement which will help us to continue strengthening our presence on Brazil's insurance market, in line with the Group's multi-partner business model" said Antoine Lissowski, Chief Executive Officer of CNP Assurances.
About CNP Assurances
A benchmark player in the French personal insurance market, CNP Assurances is active in 19 countries in Europe and Latin America, with a significant presence in Brazil, its second largest market. Acting as an insurer, co -insurer and reinsurer, CNP Assurances develops innovative personal risk/protection and savings/pensions solutions. It has more than 38 million personal risk/protection insureds worldwide and more than 12 million savings/pensions policyholders. In line with its business model, the Group's solutions are distributed by multiple partners. The solutions are aligned with each partner's physical or digital distribution model, while also being tailored to local clients' needs in each country.
CNP Assurances has been listed on the Paris Stock Exchange since October 1998. The Group reported net profit of €1,412 million in 2019.
About Correios
Founded on 25 January 1663, Brazilian post and telegraph corporation Correios has constantly sought to update its operations and provide quality services to match customer expectations while playing a vital role in the country's development and social integration and inclusion. While postal services are its primary focus, the company also provides financial services at its different branches, affording millions of Brazilians access to a bank account and basic banking services.
| Press contacts | Investors and analysts | ||
|---|---|---|---|
| Florence de Montmarin | +33 (0)1 42 18 86 51 | Nicolas Legrand | +33 (0)1 42 18 65 95 |
| Tamara Bernard | +33 (0)1 42 18 86 19 | Jean-Yves Icole | +33 (0)1 42 18 86 70 |
| [email protected] | Typhaine Lissot | +33 (0)1 42 18 83 66 | |
| Julien Rouch | +33 (0)1 42 18 94 93 | ||
| [email protected] | |||
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