February 25, 2015 / 5:25 PM / 4 years ago

SocGen buys 50 percent of insurer Antarius

PARIS (Reuters) - French bank Société Générale (SGOB.PA) on Wednesday said it would exercise its option to buy 50 percent of Antarius, an insurance company dedicated to the Crédit du Nord networks.

SocGen said Antarius’s assets, which totaled 10.5 billion euros ($11.92 billion) at the end of 2013, would take the French bank beyond the 100-billion threshold.

“The insurance businesses are at the heart of the Société Générale group’s strategy and the bank intends to accelerate the roll-out of its bank insurance model in all its markets,” Bernardo Sanchez-Incera, the bank’s deputy CEO, said in a statement.

Reporting by Astrid Wendlandt; Editing by Alexandria Sage

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below