View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. News
  2. Company analysis
February 9, 2011updated 13 Apr 2017 8:50am

Crédit Agricole acquires specialist French insurer

Frances largest bancassurer Crdit Agricoles insurance unit Crdit Agricole Assurances (CAA) has completed the acquisition of French life insurer Axeria Vie and its subsidiary April Patrimoine for an undisclosed sum.

By LII editorial

France’s largest bancassurer Crédit Agricole’s insurance unit Crédit Agricole Assurances (CAA) has completed the acquisition of French life insurer Axeria Vie and its subsidiary April Patrimoine for an undisclosed sum.

Crédit Agricole noted that the acquisition was aimed at expanding CAA’s range of products and services for the premium, online and other specific market segments.

Axeria Vie specialises in designing customised life and savings insurance products distributed under its partner agents’ brand names.

In 2009, it reported sales of €187m ($240m), €251m in underwriting reserves and 27 employees.

According to Crédit Agricole, April Patrimoine operates along three basic lines:

  • Advice on optimising growth and portfolio profitability;
  • Design of products to suit national and international markets; and
  • A product range and marketing approach aimed at the over-45 year age group.

In 2009, April Patrimoine reported sales of €190m, €10.3m in commissions and 36 employees.

NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. The industry's most comprehensive news and information delivered every month.
I consent to GlobalData UK Limited collecting my details provided via this form in accordance with the Privacy Policy
SUBSCRIBED

THANK YOU

Thank you for subscribing to Life Insurance International