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May 6, 2022

MedVida eyes Italian insurance market via CNP Partners deal

Spanish insurance firm Mediterráneo Vida (MedVida) has signed a deal to acquire CNP Partners for an undisclosed sum.

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2022: So far In Venture Capital

Global investment in 2022 has been majorly dominated by North America, Europe, and Asia Pacific, whereas the Middle East, and South and Central America have recorded low investments comparatively. In light of this, Europe and North America have been identified as the major destinations for Private Equity and Venture Capital (PE/VC) investments.   GlobalData’s whitepaper analyzes which sectors PE/VC firms have been investing in, looking at Technology, Media, and Telecom, with these sectors recording $356 billion and a deal volume of over 10,000 deals in 2022. Healthcare, Financial Services, Business & Consumer Services, and Construction sectors have also seen high investment activity by PE/VC firms, recording a deal value of over $70 billion each.   But what can this mean for you?   Understand how the Deals Database on GlobalData Explorer can be leveraged to:  
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by GlobalData
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CNP Partners is the Spanish life insurance subsidiary of French insurance major CNP Assurances.

It specialises in offering savings products and distributes them mainly via bancassurance partnerships, and intermediation channels in Spain and Italy.

MedVida noted that the deal will double the size of its balance sheet to approximately €5bn and mark its foray into the Italian insurance space.

As agreed, MedVida will keep “Partners” in its new name and invest €20m in the first two years to enhance the competitiveness and service capacity of the new entity.

MedVida CEO Antonio Trueba said: “We approach this new phase with great enthusiasm and look forward to working with the CNP Partners team in both Spain and Italy to progress the innovative project we have for both markets”.

MedVida is a life savings and annuity insurance firm that manages policies for more than 148,000 customers.

The deal forms part of MedVida’s long-term growth strategy, which will see it work with CNP Partners’ existing team.

MedVida aims to reinforce ties with distribution partners, including financial institutions, brokers, and intermediaries, and develop its digital channel.

For CNP Assurances, the divesture will simplify its European business and allow it to focus on developing core business in Spain and Italy.

The deal, which was announced earlier this year, is expected to close in the fourth quarter of 2022 and is subject to regulatory approval.

Free Report
img

2022: So far In Venture Capital

Global investment in 2022 has been majorly dominated by North America, Europe, and Asia Pacific, whereas the Middle East, and South and Central America have recorded low investments comparatively. In light of this, Europe and North America have been identified as the major destinations for Private Equity and Venture Capital (PE/VC) investments.   GlobalData’s whitepaper analyzes which sectors PE/VC firms have been investing in, looking at Technology, Media, and Telecom, with these sectors recording $356 billion and a deal volume of over 10,000 deals in 2022. Healthcare, Financial Services, Business & Consumer Services, and Construction sectors have also seen high investment activity by PE/VC firms, recording a deal value of over $70 billion each.   But what can this mean for you?   Understand how the Deals Database on GlobalData Explorer can be leveraged to:  
  • Track the Aggregate Investment Volumes in PE/VC-Stage firms across geographies and sectors, in addition to viewing the specific deals that drove these volumes
  • Identify the top investors already active in any sector-Geography combinations
  • Assess the Performance of Financial and Legal Advisors, supporting the Dealmaking in any segment of choice (Customizable League tables)
  • Understand what is driving the PE/VC fundraising (Deal Rationale)
  Consult our full report here and optimize your business strategy.
by GlobalData
Enter your details here to receive your free Report.

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