Paris, 10 December 2015
CNP Assurances and La Banque Postale have announced the signature of a preliminary memorandum of understanding for the renewal of their partnership as of 2016 for a further period of 10 years.
The renewed partnership would cover the following aspects:
- In the field of life insurance and capitalisation policies:
- the renewal of the partnership for a term of 10 years as of 1 January 2016, the scope being widened to cover BPE;
- In the field of personal protection policies:
- the implementation of a direct partnership with La Banque Postale covering collective borrowers’ insurance policies for mortgage loans over a period of 10 years, CNP Assurances being substituted to La Banque Postale Prévoyance for this segment;
- CNP Assurances’ transfer to La Banque Postale of its shareholding in La Banque Postale Prévoyance. The latter will retain the individual protection activities among other things.
The planned renewal of the partnership between the parties is fully in keeping with the strategic policies of CNP Assurances and La Banque Postale.
The signature of the final agreements is expected to take place during the 1st quarter of 2016, and the current agreements will continue to be performed until then.
“This planned renewal of the partnership with La Banque Postale fits in with our strategic goals. It offers CNP Assurances prospects for growing its activities with La Banque Postale while preserving the economic balance of the relationship between the parties” said Frédéric Lavenir, the chief executive officer of CNP Assurances.
“CNP Assurances is a key partner with which La Banque Postale wishes to pursue its involvement. Thanks to the signature of this memorandum of understanding, and the confirmation of the distribution of the life insurance policies of CNP Assurances, the clients of La Banque Postale will continue to benefit from quality products that best meet their interests” said Rémy Weber, Chairman of the Executive Board of La Banque Postale.