...BNP Paribas Assurance is the parent company for most of BNP Paribas' (BNPP, rated `AA'/Outlook Negative) insurance subsidiaries, the major entities being Cardif Assurance Vie, Cardif Assurances Risques Divers and BNP Paribas Assurance's international subsidiaries. BNP Paribas Assurance's nonlife insurance subsidiary, Natio Assurance, is jointly owned with AXA (the major insurance subsidiaries of which have an Insurer Financial Strength (IFS) rating of `AA'/Outlook Negative). The group operates with two distinctive brands: the BNP Paribas brand is used by the bank's network in France while the Cardif brand is employed for all other operations. BNPP and its subsidiaries constitute the largest deposittaking business in the eurozone, its core markets being France, Italy and, following the acquisition of a 75% stake in Fortis Bank in May 2009, Belgium. The group is organised around three main business lines: (1) retail banking, (2) corporate and investment banking, (3) asset management, private...
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