Regulatory acts

Bank / Insurance

The Autorité approves the creation of a public bank insurer in France

Published on December 30, 2019

bancassurance

By a decision issued on 30 December 2019, the Autorité de la concurrence authorizes, on the one hand, La Banque Postale to take control over CNP Assurances. On the other hand, it authorizes the Caisse des dépôts et consignations (Deposits and Consignments Fund) to exercise sole control – from now on- over the La Poste group. These clearances were given without any specific condition.

These two transactions- which are simultaneous- arise from the re-organization of the La Poste group and the CNP Assurances holding of capitals in order to create – at the Government’s initiative- a public « bancassurance » pole.