CNP Assurances buys Swiss Life’s share in their assistance subsidiary

The public insurer CNP Assurances announced on Tuesday the acquisition of the minority stake (34%) of Swiss Life in their joint subsidiary of personal and property assistance Filassistance International, in accordance with the provisions of their partners’ agreement dating from 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, has not been disclosed.

This business is essential to our raison d’être and to the deployment of our strategy, commented Stphane Dedeyan, Chief Executive Officer of CNP Assurances, in a press release, to provide as many people as possible with solutions that protect and facilitate all life paths.

Filassistance International has 8 million beneficiaries on its website for a turnover of 51 million euros.

As an insurer, co-insurer and reinsurer, CNP Assurances has 36 million policyholders in provident insurance and protection worldwide and more than 11 million in savings and pensions.

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The company has been a 100% subsidiary of La Banque Postale since the success of a simplified takeover bid (OPA) carried out in May.

In 2021, it made a net profit of 1.55 billion euros for 31.7 billion euros in turnover. It will publish its second quarter results on Wednesday.

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