CNP Assurances integrates the business activities of the GIE GPA

                                                                                                                                                                    Issy-les-Moulineaux, 08 January 2024

CNP Assurances integrates the business activities of the GIE GPA

CNP Assurances is announcing the integration, as of 1 January 2024, of the business activities carried out on its behalf by the Groupement d’Intérêt Economique - Groupement de Partenariats Administratifs (GIE-GPA, an economic interest grouping and administrative partnerships grouping). CNP Assurances previously held 80% of the capital of the GIE and the Association pour la Prévoyance Collective (group protection association), managed by the Malakoff Humanis Group, 20%.

The insurance policy management businesses^[1] of the GPA relating to the scope of CNP Assurances are now attached to the Retirement Solutions Department within the Partnerships France and Amétis network business unit of CNP Assurances, under the direction of Thomas Chardonnel, a member of the Executive Committee.

Serving to internalise complementary skills sets at CNP Assurances, the transaction is part of the Group’s strategy to expand in the social protection, group retirement and term creditor insurance markets and build a very high value-added model for all its business activities in France and abroad. 

 

 

Head of the Partnerships France Business Unit and Amétis network

“By integrating the GPA teams into the CNP Assurances Group, we are internalising skills and activities to support the development of our very high value-added model and our ambitions in the social protection, group retirement and term creditor insurance market. The teams joining CNP Assurances stand apart through their considerable expertise and share our values and our commitment to serving our customers and partners.” 

 

About CNP Assurances

Present in 19 countries around the world, the CNP Assurances group is a leading player in the insurance industry with more than 6,500 employees and net profit of €1,939 million in 2022 (IFRS 4). A subsidiary of La Banque Postale, CNP Assurances is a member of the major public financial group. In France, CNP Assurances is no. 1 in property loan insurance, no. 2 in life insurance, and in 2023 integrated the property insurance activities of La Banque Postale, making it a comprehensive insurer of property and persons. It is the fifth-largest insurer in Europe and boasts a particularly strong position in Italy, which is now its second-largest market after France. The Group is growing solidly in Brazil, where it now ranks no. 3. Based on a multi-partnership or “open” model, its solutions are distributed through long-term strategic partnerships. In total, more than 32 million people worldwide are insured by CNP Assurances for personal risk/protection and 14 million for savings and pensions. CNP Assurances is a responsible insurer and investor (€400 billion invested in all sectors of the economy). It works to promote an inclusive and sustainable society by providing solutions that protect and facilitate all life journeys for as many people as possible.