CNP Marfin

Description:

CNP Marfin Insurance Holdings is the parent company of all the insurance companies of the CNP Marfin Group in Cyprus and Greece (Laiki Cyprialife and Laiki Insurance in Cyprus, and Marfin Life, Marfin Broker and Laiki Insurance`s Brand in Greece, trading as Marfin Insurance in Greece). With effect from I January 2009, following the strategic partnership achieved between CNP Assurances and Marfin Popular Bank, CNP Assurances acquired the 50,1% of the share capital of CNP Marfin Insurance Holdings, with the remaining 49,9% remaining with Marfin Popular Bank. With effect from the same date, a strategic partnership was agreed between CNP Assurances and Marfin Popular Bank. The key target of the partnership is to better serve the customers of Marfin Group in insurance business. The French CNP Assurances S.A., whose experience in insurance industry dates back to 1850, is the largest life insurer in France with premia exceeding €30 billion and presence in 7 countries. In all the countries CNP operates, it has strategic partnerships for the distribution of its products with banking institutions and/or local post offices. This experience will help the aim of Marfin Group to maintain the leading position currently held in the Cyprus Insurance market, and to strengthen its position in the Greek market claiming a market share corresponding to its banking market share and to target for new insurance markets in countries where Marfin already has banking presence.