To strengthen its distribution networks
BNP Paribas Assurance has acquired 100% of Dexia Epargne Pension, a Dexia group subsidiary specialized in life insurance. The acquisition enables BNP Paribas Assurance, a life insurer in France, to strengthen its distribution networks and consolidate its expertise in wealth management.
The addition of Dexia Epargne Pension puts BNP Paribas Assurance in a position to become a life insurance partner for private banks and asset management firms seeking solutions for high net worth clients.
Dexia Epargne Pension mainly markets savings products and services to over 60 partners, including private banks and asset management firms. In addition to the BNP Paribas French retail banking network, BNP Paribas Assurance has worked for over 25 years with other distribution networks through its Cardif subsidiary, notably independent financial advisors (IFAs), brokers and other banks.
Eric Lombard, chairman and CEO of BNP Paribas Assurance, said: “The businesses of Dexia Epargne Pension and our Networks and Partnerships division are an excellent fit, both in terms of the partners we serve and the products we have each chosen to develop. What’s more, this operation is aligned with our development strategy, which aims to maintain a balance between external partners and business flows with BNP Paribas networks.”