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Article: CNP Assurances and Barclays set up a Long Term Life bancassurance Partnership in Southern Europe.
- Article from:
- PR Newswire
- Article date:
- June 25, 2009
CopyrightCOPYRIGHT 2009 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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PARIS, June 25 /PRNewswire-FirstCall/ -- CNP Assurances (CNP) and Barclays Bank PLC (Barclays) have agreed to enter into a 25 year business alliance to develop life insurance through Barclays networks in Spain, Portugal and Italy.
Under the terms of this agreement:
- CNP will acquire 50% shareholding in the existing life insurance
captive of Barclays - Barclays Vida y Pensiones (BVP) - that
operates in Spain and Portugal. In addition to that, CNP and Barclays
will launch new insurance operations in Italy in order to build upon
the current business in this country. CNP will assume management
control of the existing and future insurance ...