CNP Assurances: MoU with Caixa Seguridade
(CercleFinance.com) - CNP Assurances announces signing a memorandum of understanding with Caixa Seguridade, which will lead to the signature of an exclusive distribution agreement with Caixa Seguridade in Brazil, covering the product consórcio, notably in the property and automobile sectors.
This new 20-year agreement is in addition to the agreement signed in August 2018 (which was amended in September 2019) on providence, consumer loan insurance and pension products (vida, prestamista, previdência).
The new distribution agreement in the Caixa Econômica Federal network will be implemented through a company incorporated for this purpose, in which CNP Assurances will hold 50.01% of the ordinary shares with voting rights, as well as 25% of the economic rights.
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