ABN AMRO signs life insurance strategic partnership in France

ABN AMRO, through its French private bank Neuflize OBC, has entered into talks with BNP Paribas Cardif to form a strategic partnership in life insurance in France.

This life insurance partnership with ABN AMRO will lead to a distribution agreement and the sale of Neuflize vie to BNP Paribas Cardif.

Neuflize Vie is the French insurance joint venture owned by ABN AMRO (60%) and AXA (40%) and BNP Paribas Cardif intends to acquire all shares.

Furthermore, the merging of BNP Paribas Cardif and Neuflize Vie will create a behemoth in life insurance in France.

In addition, BNP Paribas Cardif and Neuflize OBC intend to enter into a strategic partnership to ensure that Neuflize OBC's clients continue to have access to high-end insurance products.

BUX, is set to be acquired by ABN AMRO Bank N.V. Through this acquisition, ABN AMRO hopes to significantly improve its digital offering and solidify its position in the retail investment market.

BUX was established in 2013 and serves 500,000 clients in eight markets.

Modern financial technology, an easy-to-use platform, and a brand that appeals to a younger generation of investors are all provided by BUX. With this acquisition, BUX advances ABN AMRO’s goal of pan-European expansion.

Collaboratively, BUX and ABN AMRO present an alluring assortment of savings and investment options, catering to first-time investors seeking to acquaint themselves with the world of investments as well as seasoned clients with more extensive investment portfolios seeking guidance to reach their objectives.

Furthermore, ABN AMRO hopes to assist its clients in becoming their best selves in all facets of life. With ABN AMRO’s extensive resources and infrastructure supporting BUX, this move is an extra investment that will allow for ambitious future scaling and innovation.

The transaction is anticipated to be completed in 2024, pending regulatory approval.

"ABN AMRO signs life insurance strategic partnership in France" was originally created and published by Life Insurance International, a GlobalData owned brand.

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