BNP Paribas Cardif becomes majority shareholder of BCC Vita

BNP Paribas Cardif has acquired an additional 19% stake in life insurer BCC Vita from Italian banking group BCC Iccrea.

Following the transaction, the French insurer has increased its ownership in BCC Vita to 70%, becoming the majority shareholder.

The financial terms of the deal were not disclosed.

This acquisition further reinforces BNP Paribas Cardif’s presence in Italy’s insurance and bancassurance market.