MADRID, 19 Dic. (EUROPA PRESS) -

The insurer Mediterráneo Vida (MedVida) has received authorization from regulatory bodies for the purchase of the Spanish subsidiary of the French group CNP, CNP Partners, an agreement signed in May.

The insurer has explained in a statement that this transaction will mark an important milestone in its long-term strategy to grow by consolidating life insurance operations in Europe.

"We have been preparing an innovative project for the company in Spain and Italy, which we will develop together with the entity's current employees, distributors and collaborators", stated the CEO of MedVida, Antonio Trueba.

After the acquisition, the company will maintain the name 'Partners' in its new name as a sign of MedVida's commitment to developing the CNP Partners activity through its current distribution partners: financial institutions, brokers and mediators, as well as the channel digital.

To reinforce this commitment, MedVida had previously announced that it will invest 20 million euros in the first two years with the aim of increasing the competitiveness and service capacity of the new company.