Natixix bank cedes its insurance operations

Following the heavy losses sustained during the subprime crisis, Natixix bank has decided to cede its insurance operations. The sums proposed by the potential buyers (CNP, AGF, Groupama and Covea) which amount to 1 to 1.1 billion EUR (1. 2 to 1.4 billion USD) are deemed insufficient. Even after having revised theses amounts upwards, the cession process has been interrupted.