La Banque Postale to acquire a 35% stake in La Banque Postale IARD from the Groupama Group.

La Banque Postale, a French bank, agreed to acquire a 35% stake in La Banque Postale IARD, a joint venture between La Banque Postale and the Groupama Group, markets property & casualty insurance products and services to La Banque Postale’s retail customers. Financial terms were not disclosed. "In becoming LBP IARD’s sole shareholder, La Banque Postale intends to actively continue developing the property & casualty business’s product and service offerings with a view to strengthening and consolidating its integrated bancassurance model serving all customer segments in France," Rémy Weber, La Banque Postale Chairman.