CNP acquires the share of Swiss Life

The headquarters of CNP Assurances in Paris.

The public insurer CNP Assurances announced on Tuesday the acquisition of the minority stake (34%) of Swiss Life in their joint personal and property assistance subsidiary Filassistance International, in accordance with the provisions of their shareholders’ agreement dating of 2012.

CNP Assurances currently owns 66% of Assuristance, the controlling holding company for this branch grouping together their personal assistance activities as well as automobiles, housing, health and medical repatriation. The amount of the transaction, finalized by the fall, was not disclosed.

This job “is essential to our raison d’être and to the deployment of our strategy”commented in a press release Stéphane Dedeyan, CEO of CNP Assurances, “to provide as many people as possible with solutions that protect and facilitate all life paths”. Filassistance International advances on its website 8 million beneficiaries for a turnover of 51M euros.

As an insurer, co-insurer and reinsurer, CNP Assurances claims 36 million policyholders in provident insurance and protection worldwide and more than 11 million in savings and retirement. The company is a 100% subsidiary of La Banque Postale since the success of a simplified takeover bid (OPA) carried out in May. In 2021, it earned a net profit of 1.55 billion euros for 31.7 billion euros in turnover. It will release its second-quarter results on Wednesday.

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