CNP Assurances has Entered into a Long-Term Strategic Partnership in Insurance in Europe with Banco Santander

PARIS, December 17, 2014 /PRNewswire/ --

Following the announcement on July 10^th 2014 of a strategic partnership with Banco Santander, CNP Assurances has finalised, after obtaining the necessary approvals from the regulatory authorities, the acquisition of 51% of Santander Consumer Finance's life and non-life insurance subsidiaries and the signing of a long-term exclusive distribution agreement which includes all the protection insurance products in 10 European countries where Santander Consumer Finance enjoys leading market positions (Germany, Poland, Italy, Spain, Austria, Portugal, Norway, Sweden, Denmark and Finland).

"The finalisation of this partnership with Banco Santander is a key step in the implementation of our strategy in the protection activities in Europe," said Frédéric Lavenir, Chief Executive Officer of CNP Assurances.

About CNP Assurances 

CNP Assurances is France's leading personal insurer, with net profit of €1,030 million in 2013. The Group also has operations in other European countries and in Latin America, with a significant presence in Brazil. It has 27 million personal risk/protection insureds worldwide and 14 million savings and pensions policyholders.

For 160 years, CNP Assurances has been protecting people against the risks of everyday life. The Group designs and manages life insurance, pension, personal risk and protection (term creditor insurance and health insurance) products.

• In France, CNP Assurances distributes its individual insurance products through La Banque Postale and the Caisses d'Epargne, as well as through its own CNP Trésor network. In Brazil, its second largest market, the Group's partner is Caixa Econômica Federal, the country's second-biggest state-owned bank.
• In group insurance, CNP Assurances crafts tailor-made personal risk, pension and term creditor insurance products that are aligned with the needs of companies, local authorities, mutual insurers, non-profit organizations, and banks in Europe and Latin America.

Listed on the first market of the Paris Bourse since October 1998, CNP Assurances enjoys the backing of a core group of four major shareholders (Caisse des Dépôts et Consignations, La Banque Postale, Groupe BPCE and the French State) united by a shareholders' agreement.

Disclaimer  

Some of the statements contained in this press release may be forward-looking statements referring to projections, future events, trends or objectives which, by their very nature, involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated in such statements by reason of factors such as changes in general economic conditions and conditions in the financial markets, legal or regulatory decisions or changes, changes in the frequency and amount of insured claims, particularly as a result of changes in mortality and morbidity rates, changes in surrender rates, interest rates, foreign exchange rates, the competitive environment, the policies of foreign central banks or governments, legal proceedings, the effects of acquisitions and the integration of newly-acquired businesses, and general factors affecting competition.

Further information regarding factors which may cause results to differ materially from those projected in forward looking statements is included in CNP Assurances' filings with the Autorité des Marchés Financiers. CNP  Assurances does not undertake to update any forward-looking statements presented herein to take into account any new information, future event or other factors.

Contacts presse
CNP Assurances

Florence de MONTMARIN
+33-01-42-18-86-51

Tamara BERNARD
+33-01-42-18-86-19

Malek PRAT
+33-01-42-18-86-51

[email protected]

Contacts investisseurs et analystes
CNP Assurances

Jim ROOT
+33-01-42-18-71-89

Annabelle BEUGIN-SOULON
+33-01-42-18-83-66

Julien DOCQUINCOURT
+33-01-42-18-94-93

[email protected]

SOURCE CNP Assurances