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.