Axa and Bnp Paribas towards a maxi agreement. The details of the negotiations
In France a is about to be born savings giant handled by 1400 billionwe are moving towards a joint venture between Axa And BNP Paribas. Axa – according to Bloomberg – would be ready to evaluate – among the various options on the table for the future of its asset management division – also a combination with Bnp Paribas. This is the hypothesis on which the parties (who declined to comment) are reasoning. The discussions are ongoing and there is no certainty – reports Il Sole 24 Ore – that the talks may lead to a definitive agreement. The Bnp Paribas option, on the other hand, it wouldn’t be the only way under consideration by Axa, which is similarly evaluating the possibility of combining its business with the asset management divisions of other competitors on the French market.
According to the agreement hypothesis and the rationale of the deal under discussion on the French marketit should be noted that the CEO of Axa, Thomas Buberlhas recalibrated its focus from life insurance to life insurance damage and diseasesin a way – continues Il Sole – to make the operator less sensitive to market risks. The activity of wealth management of the insurer manages Axa’s premium collection, which is mainly invested in the fixed income market. Bnp Paribas, for its part, is considered open and interested in agreements which allow it to use part of the excess liquidity accumulated from selling its U.S. retail business as the prospect of lower interest rates encourages banks to diversify your income streams. The game of risk in the financial world continues to light fires all over Europe.
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