Stake in Cardif Lux Vie sold

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Stake in Cardif Lux Vie sold

31 October 2018

Today we have announced that we reached an agreement with our joint venture partner in Luxembourg, BNP Paribas Cardif, to sell them our 33% share in Cardif Lux Vie.

The divestment of our minority stake in Luxembourg is in line with our strategy to concentrate our efforts on further developing businesses where we hold stronger positions or in growth markets. The sale also offered us an opportunity to crystallise the value that has been created in the past years.

The transaction is expected to close at the latest during the first quarter of 2019 and should generate a capital gain of EUR 39 million and have a positive impact on the Group Solvency IIageas ratio of approximately 7%.

We would like to thank the management team and staff of CLV, as well as our joint-venture partners, Cardif and BGL, for the excellent cooperation over the past 7 years.