Credit Agricole Sa: Agreement CAA and Abanca
08 Juli 2019 - 12:00PM
Credit Agricole Sa: Agreement CAA and Abanca
PRESS RELEASE
ABANCA Corporación Bancaria S.A.
(“ABANCA”) announces it has signed an agreement
with Crédit Agricole Assurances S.A. (“Crédit
Agricole Assurances”) under which Crédit
Agricole Assurances will become, subject to certain conditions
precedent, the insurance partner of ABANCA in the non-life
insurance market in Spain and Portugal.
Under this agreement, Crédit Agricole Assurances
will acquire 50% of the capital and voting rights of ABANCA
Generales de Seguros y Reaseguros S.A. (“ABANCA
Generales”), the company that will sell non-life insurance
products in Spain and Portugal through the ABANCA network, and
through digital channels on the Spanish and Portuguese market. The
company will benefit from a long-term arrangement for the exclusive
distribution of these products through ABANCA’s banking and digital
networks. The ABANCA group will own the other 50% of the capital
and voting rights of ABANCA Generales.
The acquisition of 50% of ABANCA Generales will
be finalised subject to approval by the competent authorities.
Paris, 8 July 2019
CREDIT AGRICOLE ASSURANCES
Investor Relations contacts Marie-Isabelle
Marcellesi +33 (0)1 57 72 12 84 Anne-Lise Jullin +33 (0)1 43 23 83
67 relations.investisseurs@ca-assurances.fr
Press contactsFrançoise Bololanik +33 (0)1 57
72 46 83 / (0)6 25 13 73 98Géraldine Duprey +33 (0)1 57 72 58 80 /
(0)7 71 44 35 26service.presse@ca-assurances.fr
- 2019 07 08 (GB) Agreement CAA and Abanca
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