CNP Assurances: acquisition in life insurance in Italy

(CercleFinance.com) - CNP Assurances has announced the signature of an agreement to acquire Aviva's Italian life insurance business, which is a deal that will enable it to double its market share in Italy to nearly 6% in terms of premium income.


The scope of the transaction includes 51% of the life insurance company Aviva SpA, 49% jointly owned by UniCredit, 100% of Aviva Life SpA, and the operational services company Aviva Italia Servizi Scarl.

The acquisition price is 543 million euros - it will be financed by CNP Assurances from its own funds. Its completion remains subject to various conditions precedent, including regulatory approvals.


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