Matmut SAM to acquire HSBC Assurances Vie (France).

Matmut SAM, an insurance company, agreed to acquire HSBC Assurances Vie (France), a life and pension insurance company. Financial terms were not disclosed. "The entire Matmut Group is delighted with the signing of this memorandum of understanding with HSBC Continental Europe. This external growth project confirms the validity of our company's open stance for several years. While the Matmut Group is doing well, with solid economic fundamentals, as evidenced by the A2 rating by Moody's, the recent acquisition of HSBC Assurances Vie (France), subject to future internal and regulatory steps in 2025, would allow our group to better balance our mix between property and casualty insurance, health insurance and savings businesses. By continuing to diversify our group, we are staying true to our strategy of being a comprehensive, sovereign and independent, agile and attractive mutual insurer," Nicolas Gomart, Matmut Vice-President and CEO.