CNP Assurances: takes note of UniCredit's decision

(CercleFinance.com) - CNP Assurances takes note of the decision by UniCredit's Board of Directors to exercise its call option on all the shares held by CNP Assurances (51%) in their Italian joint venture CNP UniCredit Vita (CUV).


CUV's sales in 2023 were E2.8bn (or 8% of the group total), with consolidated earnings of E25m (or 1.6% of the group total).

CNP Assurances is maintaining its development momentum in Italy via its 100% subsidiary CNP Vita Assicura, which in 2023 achieved business equivalent to that of CUV, with sales of E2.7bn (7.5% of the group total) and consolidated earnings of E36m (2.3% of the group total), the group says.

CNP Assurances is awaiting the contractual formalisation of UniCredit's announcement.


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