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Caixa says in talks to revise, expand CNP Assurances JV

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Caixa says in talks to revise, expand CNP Assurances JV

Caixa Econômica Federal's insurance arm has started new discussions to potentially adjust or expand its partnership agreement with CNP Assurances SA, according to a securities filing.

The move comes after Caixa Seguridade Participações SA and CNP Assurances in August 2018 renegotiated their existing partnership through a memorandum of understanding that only included certain parts of their earlier arrangement, primarily life insurance. Caixa planned to garner new partners to sell other insurance products, including home and auto, by the end of 2018.

However, the Brazilian lender has yet to announce any such agreements, and the existing JV with CNP Assurances has not yet garnered all necessary regulatory approvals.