Paris, 2 january 2013
CNP Assurances and Humanis have received approval from Autorité de Contrôle Prudentiel et de Résolution (ACPR), France’s financial services supervisor, and Autorité des Marchés Financiers (AMF), France’s securities regulator, to merge their employee savings plan management companies, Fongepar SA and Inter Expansion. The new entity, called Inter Expansion-Fongepar, is 65% owned by Humanis, one of France's premier social protection partners, and 35% by CNP Assurances, France’s leading personal insurer. Inter Expansion-Fongepar manages 600,000 savers’ accounts.
“The link-up between Inter Expansion and Fongepar strengthens our position in the employee savings market by combining our employee skills and pooling our technical and financial resources,” said Gilles de Margerie, Deputy Chief Executive Officer at Humanis, notably in charge of finance and the savings segment. “It illustrates our goal of optimizing management processes in order to provide the best service at the right cost to each of our clients.” “CNP Assurances and Humanis share the same vision and values in the field of employee savings management,” said Xavier Larnaudie-Eiffel, Deputy Chief Executive Officer at CNP Assurances. “The merger of Inter Expansion and Fongepar is an opportunity to offer an expanded range of products and services.”
The new employee savings entity is supported by Humanis Gestion d’Actifs, an asset management company comprised of Inter Expansion and Fongepar Gestion Financière’s portfolio management teams. With more than €4 billion in employee savings under management (putting it in fifth place in the AFG* ranking) and close to €10 billon in technical reserves, Humanis Gestion d’Actifs has become a key player in the social economy. In keeping with its membership of a group devoted to social protection, Humanis Gestion d’Actifs is committed to socially responsible investment.
*AFG: Association française de la gestion financière
A key player in the field of social protection, Humanis holds leading positions in the supplementary pension, employee benefits, health insurance and savings sectors.
As a mutual insurer and employee benefits institution, Humanis has deep roots in the social economy and constantly strives to improve the protection of policyholders, whether individuals or companies, small and large. It is committed to partnering them over the long term by offering high-quality solutions and services, with a focus on providing advice and building close, responsive relationships.
Humanis also offers specific social protection expertise to individual and corporate clients for a wide range of international situations (expatriates/impatriates, staff based in France’s overseas departments and territories, companies with no offices in France, embassy staff), and also provides underwriting services to partners.
Humanis is committed to helping people in difficulty through its dynamic outreach program aimed at assisting the disabled and other people needing long-term care as well as the socially excluded.
Key 2012 dates and figures
- Humanis founded on 26 January 2012
- Nearly 700,000 corporate clients
- 10 million insureds
- 84 branches in France providing clients with a local contact point
- Largest participant in France’s compulsory supplementary pension scheme (Agirc-Arrco) accounting for 22.40% of the total, second-largest employee benefits institution and third-largest mutual insurer, leading group health insurance provider, leading employee savings plan institution
- Over 6,600 employees