Paris, 24 May 2018

Humanis, CNP Assurances and AG2R La Mondiale consolidate their partnership

Inter Expansion-Fongepar, the company dedicated to employee savings for the Humanis group, of which CNP Assurances is a shareholder and Prado Épargne, the employee savings management company of AG2R La Mondiale, combine their expertise and resources to become a major player in the equality and mutual sector.

 

The ACPR (French acronym for Prudential Control and Resolution Authority) having approved the deal on April 26, the implementation of the merger of Inter Expansion-Fongepar and Prado Epargne has been effective since May 1, 2018.

 

This merger is in line with the growth and multi-stakeholder distribution strategy of the Humanis group’s employee savings business, which began in 2013 with CNP Assurances and the merger of Inter Expansion and Fongepar.

This deal solidifies several years of partnership between Inter Expansion-Fongepar and Prado Epargne around an administrative management service and tool shared within the GIE GES (“Groupement d’Intérêt Economique Gestion Epargne Salariale”). The pooling of technical resources and the improvement of the quality of management was indeed initiated at the beginning of 2016. It now naturally leads to the merger of the two companies and the acquisition of AG2R La Mondiale’s stake in the capital of this new structure.

“These three years of joint work within the GIE GES, our administrative management centre, have allowed Inter Expansion-Fongepar and Prado Epargne to get to know each other. We quickly realized that we share values ​​and a common vision of the trade. This is why it seemed obvious to us to bring together our teams with the aim of building and distributing together a strong employee savings solution, driven by the values ​​of the social economy, as an alternative to the bank insurance sector”  stated Jean-François Schmitt, Savings Director of the Humanis Group.

“We are pleased with the outcome of this project, which reinforces our partnership with Humanis and CNP Assurances and testifies to our shared ambition in terms of employee savings. AG2R LA MONDIALE has also consolidated this aim by taking a 15% stake in the new organisation and our sales network is fully mobilised to contribute to its development’, said Patrick Vucekovic, advisor to the managing director of AG2R LA MONDIALE.

“CNP Assurances, Humanis and AG2R La Mondiale share common values. We are very excited at the idea of applying them also in the area of ​​employee savings, a sector that is set to grow in the years to come”, added Yves Couturier, Deputy Chief Executive Officer at CNP Assurances.

The new company is based on a strong shareholding composed of the three major groups of social protection and life and health insurance, Humanis (55%), CNP Assurances (30%) and AG2R LA MONDIALE (15%).

With a total outstanding amount of 5.8 billion euros, the entire management of which is delegated to Humanis Gestion d’Actifs (Asset Management), and nearly 590,000 savings accounts, it is now the leading player in employee savings deriving  from social protection and the equality sector.

 

                                                                                                      

About the Humanis group

Humanis, a leading player in the world of social protection, now plays a leading role in the fields of supplementary retirement, pension, health and savings plans. A joint and mutualistic company, build on a multi-national federal architecture, the Humanis group is deeply rooted in the values ​​of social economy and always intends to better protect its customers, individuals and businesses of all sizes alike. Humanis is committed to give them sustainable solutions and quality services over the long term, with a focus on proximity, advice and listening. Humanis also provides its corporate and private clients with specific expertise in international social protection (expatriates - impatriates - overseas - companies without an establishment in France and embassy staff) and in the production of services to partners. Finally, the Humanis group has demonstrated its commitment to populations in need through a dynamic social action policy focused on social issues (disability, loss of autonomy, social rupture). www.humanis.com /@HumanisActu

About CNP Assurances

CNP Assurances is the leading personal insurer in France with net profits of €1.285 million in 2017. The Group is also active in Europe and Latin America, with a strong presence in Brazil. It has more than 38 million personal protection policyholders worldwide and over 14 million in savings and pension plans. CNP Assurances has been protecting people against the risks of everyday life for the last 160 years. CNP Assurances designs and manages life insurance, pension, personal risk and protection products, including credit protection insurance and health insurance.

  • With respect to personal insurance in France, CNP Assurances markets its products via La Banque Postale and the Caisses d’Épargne, as well as through its own network: Amétis. In Brazil – its second market – the Group is a partner of Caixa Econômica Federal, the country's second largest state-owned bank.
  • With respect to group insurance, CNP Assurances designs tailored products in the fields of health and protection, pensions and credit protection insurance.

These products meet the needs of companies, local authorities, mutual insurance companies, associations and banks, in both Europe and Latin America.

CNP Assurances has been listed on the Paris Stock Exchange since October 1998 (Premier Marché) and relies on a stable shareholder base embodied by a pact signed between its main shareholders (Caisse des Dépôts, La Banque Postale, Groupe BPCE and the French state).

Find all CNP Assurances news on @CNP_Assurances or on the website: www.cnp.fr

 

About AG2R LA MONDIALE:

AG2R LA MONDIALE, the leading personal and asset protection insurance group in France, offers a full range of products and services for retirement, provident savings and health. As a key player operating in the personal insurance market in all regions, the Group insures individuals, companies and branches with a view to protecting health, safeguarding assets and income, providing for accidents and preparing for retirement. AG2R LA MONDIALE is a company combining two forms of governance (co-determination and mutualism), and boasts a unique social protection model closely linking profitability, solidarity, performance and social commitment Each year, the Group dedicates more than €100 million to help vulnerable populations and support individual and collective initiatives.

Follow the company’s latest developments at: www.ag2rlamondiale.fr / Twitter : @AG2RLAMONDIALE

PRESS CONTACTS

Humanis Group - Séverine Sollier - 6 14 84 52 34 – severine.sollier@humanis.com

laurence.dutrey@humanis.com

 

CNP Assurances - Florence de Montmarin / Tamara Bernard  01 42 18 86 51/19 servicepresse@cnp.fr

 

AG2R LA MONDIALE - Mélissa Bourguignon 06 04 52 18 63 melissa.bourguignon@ag2rlamondiale.fr