CNP Iberia

What CNP Iberia does

CNP Iberia is the Spanish and Portuguese branch of CNP Assurances S.A., a French insurance group founded in 1850 and owned by La Banque Postale. The company operates as a B2B personal protection insurer offering four core product categories: Payment Protection (Protección de Pagos), Life-risk Insurance (Vida-riesgo), Hospitalization Insurance (Hospitalización), and Accidents Insurance (Accidentes). It also operates CNP Caution, a wholly-owned subsidiary specializing in unemployment guarantee insurance since 2004. The company does not sell directly to consumers; instead, it distributes through a multi-partner bancassurance and affinity model, serving banks, financial institutions, healthcare providers, and non-financial affinity partners across fintech, insurtech, retail, telecommunications, utilities, and real estate sectors.

The company's distribution technology is built around CNP Hub (CNPHub), a proprietary digital platform that enables partners to deploy white-label, 100% digital insurance products under their own brand through an omnichannel model. The platform includes campaign management and customer experience monitoring capabilities, allowing partners to monetize their existing customer bases. CNP Iberia maintains a 29-person team headquartered in Madrid, operating as a branch rather than a separately incorporated entity, supervised by Spain's DGSFP (administrative code E0160) and controlled by the French Autorité de Contrôle Prudentiel.

CNP Iberia's revenue is generated through insurance premium collection across its protection product portfolio and reinsurance services, with pricing tailored to individual risk assessment and partner agreements. The company reported 253% Solvency II margin as of December 2023, and the parent group reported €37.41 billion in premium income and €1.582 billion in net profit for 2024. The company is currently led by newly appointed CEO Elena McIlroy De La Rosa (effective June 2026), succeeding David Lattes who led the company since 2018. The Iberian subsidiary is positioned within the parent's 'Lead for Impact' 2026-2030 strategic plan, with active expansion plans in the Portuguese market through new distribution alliances and a dedicated Portugal-focused team.

Name

CNP Iberia

Legal name

CNP Assurances, S.A., Sucursal en España

Website

https://cnp.es

Company type

Private

Founded year

2004

Operating status

Operating

Headcount range

11–50 employees

Short description

CNP Iberia is the Spanish and Portuguese branch of CNP Assurances, offering B2B personal protection insurance (payment protection, life-risk, hospitalization, accidents) distributed through 345 partners via banks, affinity channels, and the CNP Hub white-label digital platform.

Ownership category

akta.pro rank

Headquarters

HQ city

Madrid

HQ country

Spain

HQ region

Europe

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales

Revenue model

1. Insurance Premiums: Collection of insurance premiums from policyholders through protection insurance products including payment protection, life-risk, hospitalization, and accident coverage. Operates both as direct insurer and reinsurer.
2. Reinsurance: Provision of reinsurance services to other insurance companies, operating as a major player in the reinsurance market in Iberia.

Go-to-market motion1 record

Distribution channels4 records

Marketing channels4 records

Core offering

CNP Iberia is the Spanish and Portuguese subsidiary of CNP Assurances, providing personal protection insurance products (payment protection, life-risk, hospitalization, and accident coverage) and reinsurance services. The company distributes these products primarily through a multi-partner B2B model — including banks, financial institutions, healthcare providers, and affinity partners — and via its proprietary CNPHub digital platform that enables partners to offer white-label insurance under their own brands.

Product overview

CNP Iberia, the Spanish and Portuguese subsidiary of CNP Assurances, operates as an insurance company offering a portfolio of personal protection products. The core product portfolio consists of four main insurance categories: Payment Protection (Protección de Pagos), Life-risk Insurance (Vida-riesgo), Hospitalization Insurance (Hospitalización), and Accidents Insurance (Accidentes). These products are distributed through traditional channels and through CNP Hub, the company's technological distribution platform that enables partners to offer insurance products under their own brand in an omnichannel model. The company also operates through CNP Caution, a subsidiary specializing in unemployment guarantee insurance. The offering is primarily B2B focused, serving distribution partners including banks, financial institutions, and affinity groups, rather than direct consumer products.

Differentiator

Problem solved

Functional benefit

Brands

• CNP Hub: Innovative insurance distribution technology hub providing commercial and technological platform to help partners monetize their customer base through omnichannel distribution and direct protection product sales.

Products and services

• Payment Protection (Protección de Pagos) Insurance products that protect customers in case of unemployment, temporary incapacity, or hospitalization, enabling them to meet payment obligations on credit cards, personal loans, consumer loans, mortgages, or bill payments. Designed for distribution partners such as banks and credit providers.
• Life-Risk Insurance (Vida-riesgo) Personal protection solutions covering death, illness, or disability, providing families with financial support in case of loss of income due to the insured's death.
• Hospitalization Insurance (Hospitalización) Supplementary financial protection in case of hospitalization, paying a daily amount for each day of hospitalization, potentially including assistance services for recovery support.
• Accident Insurance (Accidentes) Coverage for damages to physical integrity resulting from accidents in daily, personal, or professional life, providing financial protection and assistance services.
• CNP Hub Technological and commercial distribution platform enabling partners to monetize their customer base through omnichannel distribution and direct sale of 100% digital, personalized protection products under the partner's own brand. Includes campaign management and customer experience monitoring.
• CNP Caution (Unemployment Guarantee Insurance) Wholly-owned subsidiary specializing in guarantee insurance, particularly unemployment protection insurance, operating in Spain since 2004.

Quantifiable outcome

• 253% Solvency II margin (December 2023)
• +1 more outcomes

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature1 record

Partnerships

Two partnerships are on record, tiered strategic and core.

• Camara de Comercio Hispano-PortuguesastrategicGTM or Marketing Partner · 5 March 2025Spanish-Portuguese Chamber of Commerce partnership to promote business development, networking, and commercial relations between Spain and Portugal. Provides access to business networks and strategic sectors including finance and healthcare.
• CNP Caution (Subsidiary)coreOthersWholly-owned subsidiary specializing in guarantee insurance, particularly unemployment protection insurance. Established in Spain since 2004.

Scale indicators10 records

Recent moves9 records

Expansion highlights5 records

Broad incumbents

• Allianz Spain: Spanish subsidiary of Allianz Group offering life, health, and accident products through agent, broker, and bank channels. Broad incumbent competing across the same distribution channels in Iberia.
• Mapfre: Spain-headquartered global insurer with strong Iberian presence across life, health, and accident lines, plus bancassurance partnerships. Broad incumbent competing across multiple product lines including personal protection.
• Generali Spain: Spanish operations of Generali Group offering life, accident, and health protection through brokers, banks, and affinity channels. Broad incumbent competing in personal protection across Iberia.
• AXA Spain: Spanish subsidiary of AXA Group offering life, health, and accident protection through agents, brokers, and bancassurance. Broad incumbent with significant Iberian distribution scale.
• Zurich Insurance Spain: Spanish subsidiary of Zurich Insurance Group offering life, accident, and health protection through broker and bancassurance channels. Broad incumbent competing for the same partner-led distribution in Iberia.

Direct peers

• Coface: Global credit insurance and reinsurance provider serving banks, financial institutions, and corporations. Comparable in payment-protection-adjacent and reinsurance activities, particularly for consumer credit portfolios.
• BNP Paribas Cardif: European bancassurance and payment protection specialist owned by BNP Paribas, offering credit, life, and protection insurance through partner banks across Europe. Direct peer in payment protection and bancassurance model targeting banks and retailers.
• CNP Santander Insurance: Joint venture between CNP Assurances and Santander for life and protection insurance distributed through Santander's banking network in Europe and Latin America. Closest direct peer — same parent, same bancassurance DNA — and now operating in adjacent Iberian channels.

Regional players

• Catalana Occidente: Spanish insurance group with credit insurance, life, and protection lines distributed through brokers and affinity partners in Spain and Portugal. Comparable regional competitor with a bancassurance-adjacent model.
• Mutua Madrileña: Leading Spanish mutual insurer with strong life, health, and accident offerings, primarily focused on the Spanish market. Comparable regional competitor in personal protection and affinity distribution.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks1 record

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/cnp-iberia

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 records

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about CNP Iberia