Pan Seguros\u2019 distributes its products – especially credit insurance and protection products \u2013 through an exclusive partnership with Banco PAN, as well as a number of partnerships with other financial institutions, including CEF, and specialized distributors (car dealerships, retailers\u2026). The distribution agreement with Banco PAN runs until 2034.<\/p>\n
By combining CNP Assurances\u2019 life insurance expertise with Pan Seguros\u2019 footprint, this transaction will allow the clients of Banco PAN and Pan Seguros\u2019 other partners to benefit from an extended and value-creating product
\noffering.<\/p>\n
The agreed purchase price for the two stakes combined is R$700m, subject to certain adjustments depending on Pan Seguros and Pan Corretora\u2019s financial performance until closing. CNP Assurances intends to finance this transaction using existing own financial resources.<\/p>\n
Completion of the transaction remains subject to regulatory and competition authorities\u2019 approval, as well as CEF\u2019s consent, CEF being the co-shareholder in Pan Seguros and Pan Corretora.<\/p>\n
This transaction serves CNP Assurances Group\u2019s double strategic priority to reinforce its presence in Brazil \u2013 its second largest market after France \u2013 and develop its personal risk and protection business.<\/p>\n
The transaction is expected to close in the first half of 2017.<\/p>\n
\u201cThis agreement is an important step in the implementation of our strategic priorities in Brazil. Thanks to the long term partnership between Pan Seguros and Banco PAN, we reinforce our presence in Brazil by gaining access to CNP Assurances has entered into an agreement to acquire a 51% stake in Pan Seguros (excluding its large risks P&C portfolio) and Pan Corretora from Banco BTG Pactual (\u201cBTGP\u201d). Caixa Economica Federal (\u201cCEF\u201d) holds indirectly 49% in both companies. <\/p>\n","protected":false},"author":20,"featured_media":51277,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[1470],"tags":[1655,2094,2082],"_links":{"self":[{"href":"http:\/\/beta.next-finance.net\/en\/wp-json\/wp\/v2\/posts\/51279"}],"collection":[{"href":"http:\/\/beta.next-finance.net\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/beta.next-finance.net\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/beta.next-finance.net\/en\/wp-json\/wp\/v2\/users\/20"}],"replies":[{"embeddable":true,"href":"http:\/\/beta.next-finance.net\/en\/wp-json\/wp\/v2\/comments?post=51279"}],"version-history":[{"count":0,"href":"http:\/\/beta.next-finance.net\/en\/wp-json\/wp\/v2\/posts\/51279\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/beta.next-finance.net\/en\/wp-json\/wp\/v2\/media\/51277"}],"wp:attachment":[{"href":"http:\/\/beta.next-finance.net\/en\/wp-json\/wp\/v2\/media?parent=51279"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/beta.next-finance.net\/en\/wp-json\/wp\/v2\/categories?post=51279"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/beta.next-finance.net\/en\/wp-json\/wp\/v2\/tags?post=51279"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
\n3.4 million clients while diversifying our distribution networks<\/em>\u201d, said Fr\u00e9d\u00e9ric Lavenir, CEO of CNP Assurances. <\/p>\n","protected":false},"excerpt":{"rendered":"