CNP Cyprus rebrands as ERB after €182M acquisition by Hellenic Bank, KNEWS

By the end of June 2025, “CNP” will be renamed “ERB” as a result of the acquisition of CNP Cyprus Insurance by Hellenic Bank.

Under the terms of the agreement, CNP Cyprus must formally separate from the French insurance giant CNP Assurances. As the legal and operational merger between Hellenic Bank and Eurobank Cyprus progresses, all entities involved will ultimately come under the umbrella of the Eurobank Group.

As part of the rebranding process, CNP Cyprialife and CNP Zois, which operate in the life and health insurance sectors, will be renamed ERB Cyprialife, while the general insurance arm, CNP Asfalistiki, will become ERB Asfalistiki by the end of June.

As expected, the new brand names are derived from the initials of the Eurobank Group. It’s also worth noting that Eurobank Limited will be the new name for the entity formed through the merger of Hellenic Bank and Eurobank Cyprus.

At a later stage, Hellenic Bank’s own insurance companies, Hellenic Life and Pancyprian Insurance, are also expected to be incorporated under the ERB brand umbrella as ERB Cyprialife and ERB Asfalistiki, respectively.

Deal Worth €182 Million

To recap, Hellenic Bank announced in 2024 that it would acquire CNP Cyprus Insurance Holdings Limited. The transaction was finalized in 2025 for €182 million. The deal is expected to further strengthen Eurobank Limited’s footprint in the insurance sector, boosting its market share to approximately 30% in life insurance and around 23% in general insurance.

As for future profit contributions, CNP’s Cyprus-based companies, CNP Cyprialife and CNP Asfalistiki, reported a combined profit of around €25 million in 2024.

*This article was translated from its Greek original

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