CNP Vita Assicura, the Italian life insurance company and subsidiary of the CNP Assurances group, and Ostrum Asset Management (Ostrum AM), an affiliate of Natixis Investment Managers, today announced the signing of an insurance management mandate - fixed income, equities and multi-asset - representing €15.6 billion in assets under management.
Following an open tender aimed at optimising the management of its insurance assets, CNP Vita Assicura, the Italian life insurance company and subsidiary of CNP Assurances, has entrusted the management of its listed assets to Ostrum AM, a leading player and recognised expert in insurance management and ALM solutions in Europe. The deal covers a fixed-income, equity and multi-asset management mandate representing €15.6 billion in AUM.
The partnership includes additional services, such as portfolio risk hedging advice and order reception and transmission (RTO). Ostrum AM will also provide CNP Vita Assicura with its expertise in responsible investment to support the insurance company in implementing and rolling out its ESG strategy.
A new stage in a strategic partnership
This decision to make Ostrum AM CNP Vita Assicura's sole asset management partner in Italy will enable Ostrum AM to consolidate its position as a major player in institutional asset management in Europe, and particularly in Italy, where the management company opened a branch last year and intends to continue deploying its expertise.
Marco Passafiume Alfieri, CEO of CNP Vita Assicura, commented: "Following a competitive tender, we chose Ostrum AM for its expertise and its ability to support us across the entire investment value chain. Their offer was obviously very competitive, and also included the provision of a dedicated local team."
Olivier Guigné, Chief Investment and Savings Officer Europe at CNP Assurances, continued: "We are delighted with this agreement, which strengthens our relationship with our key partner, Groupe BPCE, and enables our Italian subsidiary, CNP Vita Assicura, to optimise its asset management for the benefit of its partners and policyholders."
Olivier Houix, CEO of Ostrum AM, added: "We are delighted that CNP Vita Assicura has entrusted us with the management of its listed assets. As well as providing us with a new opportunity to work with the CNP Assurances group, this partnership marks a further stage in Ostrum AM's development in Italy. It confirms our ambition to make Ostrum AM one of the top three institutional asset managers in Europe."