By Elena Vardon

ABN AMRO is in talks with BNP Paribas Cardif to sell its stake in its French life-insurance joint venture Neuflize Vie.

The Dutch bank said Friday that it started negotiations to form a strategic partnership in life insurance in France with the buyer, which includes a distribution agreement and the sale of Neuflize Vie for an undisclosed amount.

ABN AMRO owns a 60% stake in Neuflize Vie through its private bank branch Neuflize OBC, while insurer AXA owns the remaining 40%. BNP Paribas Cardif is the insurance subsidiary of French lender BNP Paribas.

The deal remains subject to certain approvals, it said.

Write to Elena Vardon at

(END) Dow Jones Newswires

05-17-24 0408ET