On 19 January, 2009, Marfin and CNP Assurances announced the initiation of the strategic partnership that was agreed on 22 July, 2008. The strategic partnership was achieved through the purchase by CNP of the 50,1% of the share.

Capital of the Cyprus based Company Marfin Insurance Holdings, which is the parent company of all the insurance companies of Marfin group in Cyprus and Greece.

The key target of the partnership is to better serve the customers of Marfin Group in insurance business. In all the countries CNP operates, it has strategic partnerships for the distribution of its products with banking institutions and/or local post offices. This experience will help the aim of Marfin Group to establish the leading position currently held in the Cyprus Insurance market, to strengthen its position in the Greek market claiming a market share analogous to its banking market share and to target for new insurance markets in countries where Marfin already has banking presence.

In Cyprus the leading position of CNP-MARFIN will be enhanced significantly based on the experience of CNP in the management of banking distribution networks. The aim is to enrich the bancassurance product offering, further automate the administration and distribution processes and combine insurance and banking products sold through the branch network.

In the international field, CNP-MARFIN will exploit the opportunities arising from the development of the banking network of Marfin Group in Eastern Europe in order to take advantage of these opportunities where it can create value for the shareholders.