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CMS Bureau Francis Lefebvre advises the shareholders of Sunu Group on the relocation of its ultimate holding companies' registered offices from Luxembourg to France

04/10/2010


Advised by CMS Bureau Francis Lefebvre, the Sunu insurance group has relocated the registered offices of its two ultimate holding companies, Sunu Assurances and Sunu Finances, from Luxembourg to France.

Its turnover of more than 90 million euros, including 60 million euros in life assurance, and its managed assets of nearly 265 million euros make Sunu group the leading life assurance company in the CIMA region (Inter-African Conference for the Insurance Market). With the strength of 15 African insurance companies behind it, the group is present in nine countries within the region: Benin, Burkina Faso, Cameroon, the Central African Republic, the Ivory Coast, Togo, Gabon and Niger.

Within those markets, the group offers an extensive range of life and other insurance products to meet the needs of individuals (savings, financial provision, health and possessions cover) as well as those of companies (business protection and employee welfare).
Sunu group arose out of the purchase of some of AXA group's former subsidiaries in the region. Founded by Mr Pathé Dione, a former Africa director of AXA-UAP, it aims to become pre-eminent among major African insurers through its financial solidity and professionalism. The group benefits from the support of leading international reinsurers such as SCOR, AFRICA-RE and CICA-RE.

The relocation of the ultimate holding companies to France reflects the group's will to be near the head offices of major European clients, and will enable it to pursue its strategies of development and investment in the African continent.
Sunu group was advised on the relocation by the firm of CMS Bureau Francis Lefebvre, through Pierre Marly, Partner, and Nicole Marielle and Rosine Blacky, associates, of the Africa team, Benoît Provost, associate, of the Corporate department, and Ludovic Duguet, associate, in relation to tax.


For further information, please contact :
CMS Bureau Francis Lefebvre
Florence Jouffroy / Tel: +33 1 47 38 40 32
Laetitia Mostowski / Tel: +33 1 47 38 40 74

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