BNP Paribas Cardif, the insurance arm of BNP Paribas Group, has agreed to acquire Neuflize Vie, a leading French life insurance firm, from its current owners AXA and ABN Amro. This strategic move strengthens BNP Paribas Cardif’s position in the high-net-worth insurance market.
Neuflize Vie, established in 1990 as a joint venture between AXA (40% stake) and ABN Amro’s private banking unit Neuflize OBC (60% stake), caters to high-net-worth individuals, families, and businesses. The company offers a range of life insurance policies, retirement planning solutions, estate planning services, and insurance products linked to investment portfolios.
With €11.4 billion in capital under management and €389 million in equity as of December 31, 2023, Neuflize Vie boasts a strong presence in the French high-end insurance market. BNP Paribas Cardif expects the combined entity to become the undisputed leader in this segment.
While the specific acquisition price remains undisclosed, ABN Amro anticipates a “minor positive impact” on its CET1 capital ratio and a “marginal effect” on profitability and risk-weighted assets. The closing date hinges on customary closing conditions and regulatory approvals.
As part of the agreement, Neuflize OBC will establish a strategic partnership with BNP Paribas Cardif. This collaboration ensures that Neuflize OBC clients continue to have access to high-quality insurance products.
This acquisition underscores BNP Paribas Cardif’s commitment to expanding its insurance offerings for high-net-worth individuals. By integrating Neuflize Vie’s expertise, BNP Paribas Cardif is poised to solidify its position as a leading player in the French life insurance market.
