|
Further to its announcement dated 22 July 2008, CNP Assurances
announces the completion of the agreement for the long-term partnership with
Marfin Popular Bank for the development of the insurance business in
Greece and
Cyprus through the Marfin
Popular Bank networks in Greece and Cyprus.
The terms of the agreement include the transfer of 50.1 % of the
share capital of Marfin Insurance Holdings, which is the insurance arm of the
Marfin Popular Bank Group and also a ten year renewable exclusive distribution
agreement with an extension option in the other countries in which Marfin
Popular Bank operates.
As announced, CNP paid the amount of €145 Million for the acquisition
of the 50.1 % of Marfin Insurance Holdings.
Marfin Insurance Holdings owns 100% of Laiki Cyprialife (life
insurance in Cyprus), Laiki
Insurance (general insurance in Cyprus), Marfin Life (life insurance in
Greece) and Marfin Brokers
(insurance brokerage in Greece).
Press
Relations Sophie Messager Tel : +33 (0)1 42 18 86 51 E-mail :
servicepresse@cnp.fr
Investor and Analyst
Relations Jim Root
Tel : +33 (0)1 42 18 71 89
Jean-Yves Icole
Tel : +33 (0)1 42 18 94 93 E-mail : infofi@cnp.fr
Some of the statements contained in this press
release may be forward-looking statements referring to projections, future
events, trends or objectives which, by their very nature, involve inherent risks
and uncertainties. Actual results could differ
materially from those currently anticipated in such statements by reason of
factors such as changes in general economic conditions and conditions in the
financial markets, legal or regulatory decisions or changes, changes in the
frequency and amount of insured claims, particularly as a result of changes in
mortality and morbidity rates, changes in surrender rates, interest rates,
foreign exchange rates, the competitive environment, the policies of foreign
central banks or governments, legal proceedings, the effects of acquisitions and
the integration of newly-acquired businesses, and general factors affecting
competition.
Further information regarding factors which may
cause results to differ materially from those projected in forward looking
statements is included in CNP Assurances’ filings with the Autorité des Marchés
Financiers. CNP Assurances does not undertake
to update any forward-looking statements presented herein to take into account
any new information, future event or other
factors.
|