According to this morning's Official Gazette of the French Republic, the Autorité de Contrôle Prudentiel et de Résolution (ACPR) has issued a favourable opinion on the transfer of MFPrévoyance's portfolio to CNP Assurances, one of the last steps before the merger of MFPrévoyance's activities into CNP Assurances.
The approval by the ACPR of the transfer of the portfolio from MFPrévoyance to CNP Assurances is the penultimate step before the merger of MFPrévoyance’s activities into CNP Assurances scheduled for 31 December 2023, once the creditor objection period has expired.
Since November 2021, MFPrévoyance has been 100% owned directly and indirectly by CNP Assurances.
The proposed merger is in line with CNP Assurances’ development strategy on the social protection market, particularly in the supplementary social protection segment (mainly Provident) of the State public service. The transaction will enable MFPrévoyance to continue its historical activities and start implementing operational synergies aimed at streamlining and strengthening the resources of CNP Assurances to support its development in the Social Protection markets, at the heart of its corporate purpose and in line with its membership of the major public financial division.