CNP Assurances

M&A Activity • Aug 1, 2023

Issy-Les-Moulineaux, 1 st August 2023

CNP Seguradora, a subsidiary of CNP Assurances in Brazil, signs an agreement for the exclusive distribution of its products in the network of Correios, the Brazilian post office

CNP Seguradora, a subsidiary of CNP Assurances in Brazil, has won the tender for the exclusive 10-year distribution of its products in the network of Correios, the Brazilian post office. This new agreement forms part of the Group's ambition to develop the open model in Brazil.

Under the terms of this agreement, CNP Seguradora's insurance products will be exclusively distributed at 6,900 points of sale located in over 5,500 of the Correios network's locations in Brazil, for a period of 10 years.

CNP Assurances, Brazil's third-largest insurer, is continuing its expansion in the country by drawing on two distribution models:

• A long-standing and exclusive partnership with Caixa Econômica Federal, within Caixa Vida e Previdência, Caixa Consórcio and CNP Seguros Holding
• An open model with CNP Seguradora, its wholly-owned subsidiary distributing personal risk-healthcare, dental care, savings and consórcio products together with various partners

eStéphane Dedeyane

Chief Executive Officer of CNP Assurances

"This new agreement, for the exclusive distribution of CNP Seguradora's insurance products in the Correios network for 10 years, enables us to consolidate our open model strategy in Brazil. CNP Assurances Group wants to develop this distribution channel alongside the model linked to our long-term strategic partnership with Caixa Economica Federal."

About CNP Assurances

Present in 19 countries around the world, the CNP Assurances group is a leading player in the insurance industry with more than 6,500 employees and net profit of €1,939 million in 2022 (IFRS 4). A subsidiary of La Banque Postale, CNP Assurances is a member of the major public financial group. In France, CNP Assurances is No. 1 in property loan insurance, No. 2 in life insurance and, in 2023, will have integrated the property insurance activities of La Banque Postale, making it a comprehensive insurer of property and persons. It is the fifth largest insurer in Europe, particularly in Italy, which is now its second largest market after that of France. In Brazil, the Group's solid growth has enabled it to reach third place. Based on a multi-partnership or "open" model, its solutions are distributed through long-term strategic partnerships. In total, more than 32 million people worldwide are insured by CNP Assurances for personal risk/protection and 14 million for savings and pensions. CNP Assurances is a responsible insurer and investor (€400 billion invested in all sectors of the economy). It works to promote an inclusive and sustainable society by providing solutions that protect and facilitate all life journeys for as many people as possible.

Contacts
Assuranc Press	Investors & analysts
Florence de Montmarin +33 (0)1 42 18 86 51	+33 (0)1 42 18 77 95 Céline Byl
Tamara Bernard +33 (0)1 42 18 86 19	+33 (0)1 42 18 93 27 Pascale Fargnier +33 (0)1 42 18 74 43 Anne-Laure Le Hunsec
servicepresse@cnp.fr
	infofi@cnp.fr
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