French banking group BNP Paribas has announced that its insurance business arm, Cardif, has entered into an agreement with Caisse Nationale d'Epargne et de Prevoyance to jointly sell a range of insurance products in Algeria.

The agreement will allow Cardif to sell life and savings products through more than 200 branches of its Algerian partner.

The two companies are also planning to start a joint venture company in the future to pursue the business.