CNP Assurances announces the completion of the acquisition of Caixa Seguridade's stake in CNP Participações em Seguros Ltda. “Holding Seguros”1, bringing its ownership to 100%.
Holding Seguros holds 100% of Companhia Seguros Previdência do Sul "Previsul" and 51% of CNP Capitalização S.A. "CNP Cap".
Previsul markets life, property and credit insurance products. In 2022, it issued 1.2 million policies representing premiums of BRL 253 million2. CNP Cap markets savings products and in 2022 its total revenues related to savings contracts were of BRL 841 million3.
This transaction, worth BRL 166.8 million4, is part of a more global agreement, announced on 14 September 2022, enabling CNP Assurances to pursue its international development strategy with the acquisition of 100% of Caixa Seguridade's stakes in five companies offering the possibility of marketing insurance, dental care, savings and consórcio products (Holding Seguros, Previsul, Odonto Empresa, CNP Capitalização and CNP Consórcios).
The next and final step in this agreement is the purchase of ICATU's 49% stake in CNP Cap.
1 Formerly known as “CNP Seguros Participações em Saúde Ltda., “Holding Saúde”
2 Approximately €45.9 million at a rate of R$ 5.51 per €1
3 Approximately €152.6 million at a rate of R$ 5.51 per €1
4 After deduction of dividends paid or declared after 1 January 2022, approximately €30.3 million at a rate of R$ 5.51 per €1