Allen & Overy on the final stage of the merger between La Banque Postale and CNP Assurances
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This is the third and final stage of the merger of La Banque Postale and CNP Assurances, following the creation of the major public financial centre, initiated in 2018. This final phase consisted in combining the property and personal insurance businesses of La Banque Postale and CNP Assurances to create a comprehensive, integrated bank insurer model, in France and internationally.
To this end, after consulting with the Staff Representative Bodies of all the concerned companies and obtaining the approval of the competent regulatory authorities, La Banque Postale announces that it owns 100% of the legal entity named “CNP Assurances Holding”, bringing together the insurance activities of La Banque Postale and CNP Assurances.
From 11 April 2023, this holding company brings together all of the group’s insurance entities within a single structure, i.e. CNP Assurances SA and the four insurance and insurance brokerage subsidiaries of La Banque Postale.
The Allen & Overy international team, which advised on all aspects of financial and insurance regulations since 2018, was led from Paris by partner Mia Dassas, with associate Mélanie Baraghid. This operation also involved Allen & Overy's offices in Spain and Luxembourg, as well as its best friend law firms in Cyprus, Greece and Ireland.