|Caixa Catalunya head office|
Caixa Catalunya started its activities in Barcelona under the name of Caja de Ahorros Provincial de la Diputación de Barcelona in October 1926. It served over 3.3 million customers via an extensive network of over 1,150 domestic branches, one branch in France and 1,607 ATMs. As of December 31, 2009, Caixa Catalunya had more than 64 billion euros in consolidated assets and employed over 7,000 people. It was the fifth largest savings bank in Spain and the second largest financial institution in Catalonia, after La Caixa. On July 1, 2010, CAIXA CATALUNYA merged with CAIXA TARRAGONA and CAIXA MANRESA to form a new entity under the name CatalunyaCaixa.
Head office address:
Plaza Antonio Maura, 3
Barcelona 08003, Spain
March 5, 2010
Caixa Catalunya sells 50% of its insurance subsidiaries to Mapfre for €447 million
Mapfre and Caixa Catalunya have reached an agreement to jointly develop a range of insurance and pension products. Pursuant to this agreement, MAPFRE will acquire 50% shareholdings in CAIXA CATALUNYA’s insurance subsidiaries (Ascat Vida and Ascat Seguros Generales). This joint venture between CAIXA CATALUNYA and MAPFRE is the third largest in BancAssurance in the history of the country. In 2009, Ascat Vida and Ascat Seguros Generales, achieved premiums of more than EUR 1.1 billion and managed savings of €4.00 billion, including insurance and pension plans, making them one of the largest insurers. Mapfre has other agreements with Caja Madrid, Bankinter, Caja Castilla La Mancha and Caja Duero, and in Latin America with BBVA.
Market shares – Life and Non-life (December 2009)
|Mapfre + Caixa Catalunya||14.9%|