Allianz France hands over €2.1bn in bancassurance savings to CNP Assurances

Allianz France has transferred 20,000 insurance and savings contracts worth €2.1 billion to CNP Assurances to clear CNP's position as sole insurer of the La Banque Postale Group which initiated the policies, sides said in a joint statement.

The Excelis and Satinium products, about 60% of which is in unit-linked accounts, were marketed by La Banque Postale to its individual customers between 2009 and 2019 and are no longer distributed.

CNP Assurances takes on the products as part of the Group’s strategy to increase the share of assets invested in unit-linked accounts in its savings portfolios and thanks to its role as sole insurer of the La Banque Postale Group.

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