CNP Assurances and CACEIS Extend Partnership to Enhance Asset Servicing

CNP Assurances and CACEIS Extend Partnership to Enhance Asset Servicing

(IN BRIEF) CNP Assurances, a prominent figure in personal and property insurance across France, Europe, and Brazil, has chosen to renew its collaboration with CACEIS, a leading European asset servicing group, following a competitive call for tenders. This renewal solidifies their existing partnership for another five years, encompassing custody services for approximately €260 billion in assets alongside middle-office services for securities financing transactions. Since its inception in 2006, when former IXIS IS clients transitioned to CACEIS, the mandate has evolved to include expanded services such as middle-office and cash management. Joe Saliba, Deputy General Manager of CACEIS, expressed satisfaction at retaining this significant mandate, emphasizing CACEIS’s commitment to tailoring operational solutions to CNP Assurances’ evolving requirements while supporting their future business endeavors.

(PRESS RELEASE) PARIS, 12-Feb-2024 — /EuropaWire/ — CACEIS, the asset servicing banking group of Crédit Agricole, announces the renewal of its mandate with CNP Assurances, a leading provider of personal and property insurance services across France, Europe, and Brazil. Following a rigorous call for tenders process, CNP Assurances has opted to extend its collaboration with CACEIS for an additional five years.

Under this renewed mandate, CACEIS will continue to provide comprehensive custody services for CNP Assurances’ substantial portfolio of assets, valued at approximately €260 billion. Additionally, CACEIS will offer vital middle-office services, particularly in the realm of securities financing transactions, to support CNP Assurances’ operational needs.

Since the inception of their partnership in 2006, when former IXIS IS clients transitioned to CACEIS, the collaboration has flourished, evolving to meet the changing demands of the industry. Over the years, CACEIS has developed a tailored operational model specifically designed to address CNP Assurances’ unique requirements, ensuring efficient and effective asset servicing solutions.

Joe Saliba, Deputy General Manager of CACEIS, expressed his satisfaction with the continued partnership, highlighting CACEIS’s unwavering commitment to delivering exceptional service and support to CNP Assurances. He stated “We are delighted to have retained this major mandate that confirms CACEIS as a key partner for CNP Assurances. Over the years, we have constructed a bespoke operational model that is perfectly adapted to their needs and we are fully committed to supporting their business development plans going forward.”

Both CNP Assurances and CACEIS look forward to further strengthening their collaboration over the coming years, leveraging their combined expertise to navigate the complexities of the insurance and asset servicing industries.