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Oct 2018 Crédit Agricole Assurances (CAA) has signed an agreement with the Portuguese insurer Seguradoras Unidas to acquire a 25% stake in the GNB Seguros group. Thus the participation of the French group CAA in GNB Seguros will increase from 50 to 75%. The remaining 25% is held by the Portuguese banking group Novo Banco.
This acquisition is part of Crédit Agricole Assurances' strategy to strenthen its international activities and partnerships, particularly in Portugal.
As a reminder, CAA signed a partnership with Italian bank Credito Valtellinese in the life class of business in July 2018.
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