Groupe BPCE and CNP Assurances SA agreed to extend a historical agreement between them and BPCE unit Natixis to the end of 2030.

The agreement, related to credit insurance, health products and collective savings, was meant to expire Dec. 31, 2022. The companies expect to sign the amendments to the agreement by the end of 2019.

Additionally, beginning Jan. 1, 2020, ADE co-insurance will be allocated 50% to Natixis Assurances and 50% to CNP Assurances.

Furthermore, due to the looming merger between CNP Assurances and La Banque Postale SA, scheduled for the first quarter of 2020, the latter will enter into a new agreement with BPCE regarding the shareholding structure of CNP.

Under the new agreement, BPCE will own a 16.11% stake in CNP and La Banque Postale a 62.13% stake. This will enable BPCE to retain representation on CNP Assurances' board and various committees. The new agreement will also expire at the end of 2030.

Natixis Investment Managers also reached an agreement with La Banque Postale Asset Management over combining the latter with Ostrum Asset Management in a single shared platform.

Under the principles of the agreement, Natixis Investment Managers will become a majority shareholder of the merged entity, along with La Banque Postale Asset Management, which will continue to be majority-owned by La Banque Postale. The two entities intend to reach a binding agreement over the matter in the first quarter of 2020.

The transaction's completion is subject to relevant regulatory approvals, which are expected to come through in the first half of 2020.