Public sector roots

CNP Assurances has a solid ownership structure, with the majority of its capital held by public sector shareholders that are committed to supporting its development over the long term.

CNP Assurances started life as a state-controlled enterprise, becoming a private sector company in 1992. It is organised as a société anonyme (joint stock corporation) and is administered by a Board of Directors. Listed on the Paris Bourse since October 1998, CNP Assurances is backed by a core group of major shareholders united by a shareholders’ agreement that runs until 31 December 2019. The agreement’s signatories are:

  • Caisse des dépôts ;
  • Sopassure (representing La Banque Postale and BPCE) ;
  • The French State.

CNP Assurances and BPCE have reconfigured and renewed their distribution partnership for seven years, as of the start of 2016. CNP has also broadened and renewed its commercial agreements with La Banque Postale for ten years, from 2016.

Ownership structure at 31 December 2017

  • Caisse des Dépôts (1) : 40.8
  • Sopassure (1) Representing La Banque Postale and BPCE : 40.8
  • French State : 40.8
  • Institutional and retail investors : 40.8

A long-term investor

Caisse des Dépôts is a public financial institution founded in 1816 whose activities are overseen directly by a Supervisory Commission that reports to the French Parliament. It operates as a long-term investor serving the public interest and France’s economic development. It is rated AA.

Caisse des Dépots

Composed of a public institution and subsidiaries performing missions of general interest, Caisse des Dépôts is rated AA by rating agencies

Learn more about Caisse des Dépôts

A dividend policy that gives shareholders a return on their investment

By investing in CNP Assurances’s capital, shareholders have chosen to support its development. CNP Assurances rewards their support by offering them regular dividends. Since the IPO, the Company has never reduced its dividend.

Partner-shareholders

Our two main distribution partners - La Banque Postale and BPCE Group (Caisses d'Epargne, Banques Populaires, Crédit Foncier) - are also shareholders through their joint holding company, Sopassure. This dual role strengthens their ties with our Group as well as giving them a stake in our profits.

Sopassure was created in 2000 when the shareholders' agreement was renewed. It is 50.1%-owned by La Banque Postale and 49.9% by BPCE.

La Banque postale

CNP Assurances has expanded and renewed its commercial agreements with La Banque Postale for ten years (from 2016)

Learn more about La Banque Postale
BPCE

CNP Assurances and BPCE have reconfigured and renewed their distribution partnership for seven years, as of the start of 2016.

Learn more about BPCE

Institutional and retail investors

Some 22% of the capital is in the hands of the public, including institutional investors (such as insurance companies and pension funds), individuals and employees. In all, we have around 60,000 individual shareholders.