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French insurance giant CNP Assurances has inked a five-year renewal contract with asset servicing provider CACEIS for safekeeping of CNP’s foreign and domestic assets relating to its French insurance business, according to a CACEIS release.
The custody agreement covers assets worth €280 billion, and also includes settlement bank services, collateral management and other back-office processes.
“Over the years, we have built a relationship based on confidence with CNP Assurances,” says Joseph Saliba, deputy CEO of CACEIS in charge of business development. “Our principal objective in honoring the renewal of this mandate will be to reinforce the links between our two groups … by adapting our service offer to the needs of our client and the changing regulatory landscape.”
CNP Assurances is France’s largest personal insurer. CACEIS is an asset servicing banking group with total assets under custody of €2.3 trillion and total assets under administration of €1.3 trillion.
Need a Reprint?- Read More:
- CACEIS,
- CNP Assurances
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