New step in the sale of La Médicale, Crédit Agricole Assurances’ healthcare professional insurance subsidiary, to Generali
February 01 2022 - 1:01PM
New step in the sale of La Médicale, Crédit Agricole Assurances’
healthcare professional insurance subsidiary, to Generali
Crédit Agricole Assurances and Generali
signed today the sale agreement for La Médicale by Crédit Agricole
Assurances to Generali. This operation is accompanied by the sale
by Predica1 to Generali Vie of the portfolio of death guarantees
marketed by La Médicale.
The sale of La Médicale to Generali responds to
Crédit Agricole Assurances’ desire to focus on the development of
its bancassurance model, a vector of significant synergies with the
other entities of the Crédit Agricole group. As a universal
bank-insurer and a major player in health, Crédit Agricole
Assurances wishes to strengthen its offer in this area to all of
its customers via the Group’s local banks.
This sale for an amount of €435 million, subject
to price adjustments at the time of the sale, is scheduled within
2022. It will have a marginal impact on the solvency of Crédit
Agricole Assurances and will not have a significant impact on the
solvency ratios of Crédit Agricole S.A. The positive impact on the
Crédit Agricole Assurances’ net income group share at the time of
the sale will be more than €100 million.
The completion of this transaction remains
subject to obtaining the authorizations of the competent regulatory
and competition authorities.
ABOUT CREDIT AGRICOLE
ASSURANCES
Crédit Agricole Assurances, France’s largest
insurance Group, unites together Crédit Agricole’s insurance
subsidiaries. The Group offers a range of savings, retirement,
health, personal protection and property insurance products and
services. They are distributed by the Crédit Agricole’s banks in
France and in nine other countries around the world by financial
advisers and multi-line insurance agents. The Crédit Agricole
Assurances companies serve individuals, professionals, farmers and
businesses. Crédit Agricole Assurances has 5,100 employees. Its
premium income at the end of 2020 amounted to €29.4 billion (IFRS).
www.ca-assurances.com
Press contactsFrançoise Bololanik + 33 (0)1 57 72
46 83 / 06 25 13 73 98Géraldine Duprey + 33 (0)1 57 72 58 80 / 07
71 44 35 26service.presse@ca-assurances.fr |
Investor Relations contactsMarie-Isabelle
Marcellesi + 33 (0) 1 57 72 12 84Victoire-Emmanuelle Prud’homme +33
(0) 1 43 23 90 66Valentin Lecomte +33 (0) 1 43 23 59
76relations.investisseurs@ca-assurances.fr |
1 Predica SA (« Predica ») is a
subsidiary life insurance company of Crédit Agricole Assurances
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