BNP Paribas Cardif to acquire an additional 7.6% stake in Ageas for €1.1bn.

BNP Paribas Cardif, BNP Paribas' insurance subsidiary, agreed to acquire an additional 7.6% stake in Ageas, an international insurance group that offers retail and business customers life and non-life insurance products, for €1.1bn. “We see significant potential in the growth prospects of BNP Paribas Fortis’ bancassurance business through the partnership with AG Insurance, as well as the deployment of our new asset management platform’s expertise created through the combination of BNP Paribas AM and AXA IM. We are also pleased to support Ageas’s long-term development, under the chairmanship of Bart De Smet and the leadership of Hans De Cuyper,” Jean-Laurent Bonnafé, BNP Paribas CEO.