CNP Seguradora Secures Exclusive 20-Year Distribution Deal with Banco de Brasília

CNP Seguradora Secures Exclusive 20-Year Distribution Deal with Banco de Brasília

(IN BRIEF) CNP Seguradora, a subsidiary of CNP Assurances in Brazil, has signed a significant 20-year agreement with Banco de Brasília (BRB) for the exclusive distribution of consortium and capitalization products. This partnership aims to bolster CNP Assurances’ expansion strategy in Brazil through its CNP Seguradora brand, providing exclusive access to BRB’s extensive customer base of 7.8 million clients in the Federal District of Brasília. The agreement is subject to regulatory approvals, including Brazilian antitrust clearance, marking a strategic move to diversify and strengthen CNP Assurances’ presence in Latin America.

(PRESS RELEASE) ISSY-LES-MOULINEAUX, 2-Jul-2024 — /EuropaWire/ — CNP Seguradora, a subsidiary of CNP Assurances operating in Brazil, has announced a landmark 20-year exclusive agreement with Banco de Brasília (BRB), the primary financial institution in the Federal District of Brasília. Under this agreement, CNP Consórcio and CNP Capitalização, both business lines of CNP Seguradora, will exclusively distribute consortium and capitalization products to BRB’s extensive customer base of 7.8 million clients.

This strategic move underscores CNP Assurances’ commitment to expanding its presence in Brazil through the CNP Seguradora brand. The partnership aims to support BRB in its nationwide growth while enhancing CNP Assurances’ diversification strategy in Latin America. The agreement is contingent upon customary regulatory approvals, including Brazilian antitrust clearance.

Marie-Aude Thépaut, CEO of CNP Assurances, commented, “We are excited about this new partnership with Banco de Brasília, which aligns perfectly with our strategy to broaden our business model in Latin America. This long-term agreement to exclusively distribute consortium and savings products through BRB’s network reaffirms our dedication to the Brazilian market and our mission to offer solutions to a wide range of policyholders.”

About CNP Assurances group
The CNP Assurances group is a property and personal insurer with more than 7,000 employees. Its net profit has reached €1,550 billion in 2023 (IFRS 17). A subsidiary of La Banque Postale, the Group is No. 1 in property loan insurance and No. 2 in life insurance in France. It is the 5th largest insurer in Europe and the 3rd largest in Brazil. Its solutions are distributed in 19 countries by various partners and insure more than 36 million people in personal protection and 14 million for savings and pensions. CNP Assurances is a responsible insurer and investor (€400 billion invested in all sectors of the economy), working to promote an inclusive and sustainable society by providing solutions that protect and facilitate all life journeys.

Media Contact:

Florence de Montmarin
+33 (0)1 42 18 86 51

Tamara Bernard
+33 (0)1 42 18 86 19
servicepresse@cnp.fr

Investors and analysts:
Céline Byl
celine.byl@cnp.fr

Anne-Laure Le Hunsec
annelaure.lehunsec@cnp.fr

Sophie Nato
sophie.nato@cnp.fr
infofi@cnp.fr

SOURCE: CNP Assurances