Thus, in execution of the agreement adopted by its delegated committee, the firm chaired by Antonio Huertas sent to Caser in the past a mere letter of interest in the possible acquisition of a majority stake in said company, as explained in a relevant event to the Commission National Stock Market (CNMV).
Said letter, not requested by Caser, does not contain economic magnitudes of any kind or reference to the possible price of the operation.
Mapfre thus confirmed the information published by Expansion, according to which the insurer has signed BNP Paribas to address the purchase of a control stake in Caser, valued at around 1,000 million euros and owned by ten shareholders.
According to the newspaper, the operation does not respond to the sale of the company explicitly, but to the interest aroused after the announcement of the merger project of Unicaja and Liberbank, shareholders of Caser, and its willingness to reduce its participation in the insurer. This initiative was altered last Friday by the proposal of a takeover bid by Abanca, a shareholder also of Caser.
Caser's main shareholders are Bankia (15%), Ibercaja Banco (13.95%), Liberbank (12.22%), CaixaBank (11.51%), Unicaja Banco (9.99%), Abanca (9, 99%), Sabadell (1.79%), Cecabank (1.55%) and BBVA (0.24%).
Bankia and CaixaBank are also considering divestment of their stake in Caser, as well as Sabadell and BBVA, according to sources in the sector consulted by Europa Press.
In 2013, Caser stopped selling insurance at the Bankia offices, which opted to strengthen the partnership with Mapfre. CaixaBank, which inherited its stake in Caser de Banca Cívica and Caixa Girona, canceled the company's insurance sales agreement that same year.
The insurance group Caser recorded a profit of 66.3 million euros in 2017, which is 65% more than a year before. The company increased its premiums by 11% that year, to 1,584 million euros, and recorded increases in life (+ 20%) and non-life (+ 7%).
The Diversification area also registered a favorable evolution, when it invoiced 119.7 million euros, 13% more, and already represents 11% of the group.
Thus, the insurance company achieved two years in advance its strategic plan 2015-2019, focused on achieving a significant growth in turnover, continuous improvement of the result and innovation of both products and services.
Therefore, after the early closure of the previous plan, the group started a new one for 2018-2022, which focuses on its transformation, based on three pillars: excellence in distribution, the customer at the center of the organization and the transformation digital and the operating model.
Caser has improved its return on equity (ROE) to 7.5% and exceeds 457 million euros the minimum solvency, according to the data at the end of 2017.