CNP Assurances: signs MoU with CEF in Brazil
(CercleFinance.com) - CNP Assurances has announced signing a memorandum of understanding for a new exclusive long-term distribution agreement until 13 February 2041 in Brazil in the Caixa Econômica Federal (CEF) one of the largest Brazilian banks.
The French insurer will hence remain CEF's main partner in insurance in Brazil. The new exclusivity scope in the CEF network relates to providence, consumer credit insurance and pensions.
The agreement provides for the payment by CNP Assurance of a fixed amount equivalent to 0.96 billion euros to be made once the transaction is signed, which remains subject to different conditions precedent, including regulatory authorisations.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
The French insurer will hence remain CEF's main partner in insurance in Brazil. The new exclusivity scope in the CEF network relates to providence, consumer credit insurance and pensions.
The agreement provides for the payment by CNP Assurance of a fixed amount equivalent to 0.96 billion euros to be made once the transaction is signed, which remains subject to different conditions precedent, including regulatory authorisations.
Copyright (c) 2018 CercleFinance.com. All rights reserved.