2020 was marked by the merger between La Banque Postale and CNP Assurances. This transaction was carried out as part of the creation of the major public finance division, around the Caisse des Dépôts. La Banque Postale is now a majority shareholder of CNP Assurances, amounting to 62.84% (at 31 December 2020). As a provider of personal insurance par excellence, CNP Assurances will become La Banque Postale Group’s sole insurance vector for life and non-life insurance, notably including property and casualty insurer LBP Assurances IARD.

The new group now offers a complete line of life and non-life insurance products: personal insurance, property and liability insurance. It is aimed at individuals as well as professionals and non-profit associations.

This merger enables La Banque Postale to consolidate its integrated bancassurance model in France and accelerate the development of the CNP Assurances multi-partner model in France and internationally.

La Banque Postale’s business model has thus diversified and become balanced, with a share of insurance representing 33.4% of the Group’s NBI at 31 December 2020.

Major positions in France: 

  • Second largest player in life insurance and a major player in supplementary pensions;
  • Leader in borrower insurance;
  • A long-standing player in the collective and individual provident insurance markets: LBP Prévoyance is the fourth largest bancassurance player on the personal and collective insurance market;
  • A player in individual and collective health insurance through CNP Assurances and La Banque Postale Assurance Santé, a subsidiary 51% owned by La Banque Postale;
  • A growing player in property and casualty insurance through La Banque Postale Assurances IARD, now 100% owned by La Banque Postale.

International development player:

Thanks to its multi-partner model, CNP Assurances designs and distributes savings/retirement life insurance and borrower insurance products. CNP Assurances is focusing on its activities in Europe under an open model and in South America. In 2020, revenues from international insurance activities came to €10,357 million, or nearly 40% of the revenue of CNP Assurances.

  • Third largest Brazilian insurer via its Brazilian subsidiary Caixa Seguradora, co-owned with Caixa Econômica Federal, the country’s second largest public bank;
  • Seventh largest European insurer active in 16 countries.