CNP ASSURANCES Paris, 19 February 2015
Following their press release dated 4 November 2014, Groupe BPCE and CNP Assurances announce that they have signed definitive agreements relating to the implementation of a renewed partnership as of 1 January 2016.
This renewed partnership, for an initial period of seven years, opens a new chapter in the relationship between Groupe BPCE and CNP Assurances. As of 1 January 2016, Natixis Assurances will underwrite all savings and retirements products distributed by the Caisses d'Epargne networks. In parallel, the renewed partnership will include the implementation of an exclusive group creditor insurance partnership with Natixis Assurances covering the entire Groupe BPCE network, as well as specific partnerships in personal and group protection, including health care (see national collective agreement). It will also include the introduction of mechanisms designed to align the interests of both partners regarding the management of insurance assets within CNP Assurances relating to Caisses d'Epargne client contracts taken out until 31 December 2015, as well as a 10% quota-share reinsurance provided by Natixis Assurances.
Groupe BPCE and CNP Assurances welcome this important step and now look forward to the implementation of their renewed partnership as from 1 January 2016.
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