CNP ASSURANCES (EPA:CNP) - [CNP Assurances] finalisation of its new exclusive long-term partnership with CEF in Brazil for the distribution of consórcio products

Transparency directive : regulatory news

31/03/2021 08:30

Press Release

Paris, 31 March 2021

   CNP Assurances announces the finalisation of its new exclusive long-term
  partnership with Caixa Econômica Federal in Brazil for the distribution of
                               consórcio products

CNP Assurances announces the finalisation of its new twenty-year partnership
with Caixa Econômica Federal (CEF) for the exclusive distribution in CEF's
network of consórcio(1) product.

CNP Assurances announces that the closing transactions set out in the agreement
signed on 13 August 2020 with Caixa Econômica Federal and Caixa Seguridade
have been finalised, in particular the payment of R$250m to Caixa Econômica
Federal.

A new joint venture has been created. It will be integrated into CNP Assurances
Group by the equity method. Voting rights will be split 50.01% for CNP
Assurances and 49.99% for Caixa Seguridade, and economic rights 25% for CNP
Assurances and 75% for Caixa Seguridade.

The transaction is still under analysis by the Brazilian Central Bank and, for
that reason, start of operations by the new joint venture will occur once
approved by such authority.

(1) This product, which to some extent uses the principles of a savings plan
and a tontine, allows participants in a group to obtain financing at a lower
rate than the market rate by lending each other money for a given period of
time.

About CNP Assurances

A leading player in the French personal insurance market, CNP Assurances
operates in 19 countries in Europe, notably in Italy, and Latin America, where
it is very active in Brazil, its second largest market.

As an insurance, coinsurance, and reinsurance provider, CNP Assurances designs
innovative personal risk/protection and savings/retirement solutions. The
company has more than 36 million insured in personal risk/protection insurance
worldwide and more than 12 million in savings/retirement. In accordance with
its business model, its solutions are distributed by multiple partners and
adapt to their physical or digital distribution method as well as to the needs
of customers in each country in relation to their protection and making their
lives easier.

CNP Assurances has been listed on the Paris Stock Exchange since October 1998,
and is a subsidiary of La Banque Postale. The Company reported net income of
EUR1,350 million in 2020.

Contacts

CNP Assurances

Florence de Montmarin   +33 (01) 42 18 86 51
Tamara Bernard          +33 (01) 42 18 86 19
Caroline Ceintrey       +33 (01) 42 18 85 73

servicepresse@cnp.fr

Investors and analysts

Khalil Tabbi            +33 (01) 42 18 76 61
Jean-Yves Icole         +33 (01) 42 18 86 70
Typhaine Lissot         +33 (01) 42 18 83 66

infofi@cnp.fr

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CNP ASSURANCES (EPA:CNP) - [CNP Assurances] finalisation of its new exclusive long-term partnership with CEF in Brazil for the distribution of consórcio products

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