Having entered into exclusive negotiations on 29 February 2024, the CNP Assurances Group and La Mutuelle Générale today announced the signing of binding agreements to establish a structured partnership in the field of social protection (individual and group health and personal protection insurance). Its ambition is to create a leading player in this market.
The proposed partnership had already been approved by the employee representative bodies of each of the two groups in May, as well as by their respective governance bodies, in particular by the general meeting of La Mutuelle Générale, which met on 7 June.
This project will take the form of the acquisition of a majority stake by the CNP Assurances group in a public limited company (société anonyme), currently a subsidiary of La Mutuelle Générale, in which La Mutuelle Générale will have previously transferred its existing health and personal protection insurance activities (excluding statutory contracts and mutual insurance activities).
This company, controlled exclusively by the CNP Assurances Group, will draw on the teams and tools provided by La Mutuelle Générale, and the synergies generated by the combined expertise and know-how of the two partners. It will thus benefit from numerous growth levers resulting from the existing complementary strengths of the two groups to provide a very high added-value offering and to meet growing needs and development opportunities on the social protection market in France.
It will be the driving force behind the development ambitions of the CNP Assurances Group in a market at the heart of societal challenges (healthcare, personal protection) in line with its raison d’être and its position within a major public financial institution.
The actual implementation of this project is subject to obtaining approvals and authorisations from the competent authorities.
The teams are fully mobilised to implement the terms of the agreements and build this leading player in the social protection market.