Belonging to the public sphere

CNP Assurances is part of the major public financial institution and is 100% owned by La Banque Postale.


  • La Banque Postale : 100


La Banque Postale

Created on 1 January 2006 and a long-standing shareholder of CNP Assurances, La Banque Postale is itself 100% owned by Le Groupe La Poste.

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Groupe La Poste

Following the creation of the major public financial institution in 2020, the capital of Groupe La Poste is now 66% owned by Caisse des Dépôts and 34% by the French State.

Read more about Groupe La Poste

Caisse des Dépôts

Caisse des Dépôts and its subsidiaries form a group at the service of the general interest and the economic development of the country.

Read more about Caisse des Dépôts


Changes in shareholding structure of CNP Assurances

Four historical shareholders have accompanied CNP Assurances in the development of its multi-partnership model since its IPO in 1998: Caisse des Dépôts, La Banque Postale, the BPCE group and the French State. 

On March 4, 2020, as part of the creation of a major public financial institution, La Banque Postale acquired the shares held by the French State and Caisse des Dépôts.

On October 28, 2021, La Banque Postale announced its plan:

  1. to acquire the CNP Assurances shares held by Groupe BPCE
  2. to file a simplified tender offer with the AMF for the minority shareholders of CNP Assurances at a price of €21.90 per share, with a view to a compulsory delisting, if the conditions are met.

On December 16, 2021, the BPCE group announced the sale of its stake in CNP Assurances to La Banque Postale, as announced on October 28, 2021.

From 2 to 31 May 2022 inclusive, the Public Tender Offer for the shares of CNP Assurances announced by La Banque Postale took place.

On 3 June 2022, the AMF indicated the result of the simplified tender offer at its closing, i.e. the holding by La Banque Postale of 670,638,249 CNP ASSURANCES shares representing 1,101,676,969 voting rights, i.e. 97.67% of the capital and 98.49% of voting rights.

On 7 June 2022, the AMF confirmed the implementation of the squeeze-out for CNP Assurances shares.

On 20 June 2022, the compulsory buyback of CNP Assurances shares not yet held by La Banque Postale was triggered, resulting in the delisting of the CNP Assurances share. As a reminder, if at the end of the offer (Articles 237-1 and seq. of the AMF's General Regulations), minority shareholders do not represent more than 10% of the capital and voting rights of CNP Assurances, La Banque Postale had indicated at the time of the launch of the simplified takeover bid its intention to implement within three months of the closing of the offer, a squeeze-out procedure in order to transfer the CNP Assurances shares not tendered to the offer in return for compensation equal to the offer price (i.e. €21.90 per share, with a €1 dividend attached - mechanically adjusted for the detachment of this dividend on 27 April 2022, i.e. a price of €20.90).

CNP Assurances shares are therefore no longer listed on the market, as CNP Assurances is now fully owned by La Banque Postale.