Birth of a European champion in asset management
Following the acquisition of AXA Investment Managers (AXA IM) on 1 July 2025, BNP Paribas’ asset management activities – BNP Paribas Asset Management, BNP Paribas Real Estate Investment Management and AXA IM – merged on 31 December 2025 to form a unified structure owned by BNP Paribas Cardif. They now operate under a single brand, BNP Paribas Asset Management. Within our integrated model, this leading player brings together complementary investment capabilities with a global reach and expertise across asset classes, client segments, and geographies. BNP Paribas Asset Management now ranks among the top three asset managers in Europe,(1) with over €1,600 billion in assets under management at the end of 2025. Alongside its shareholdership, BNP Paribas Cardif is strengthening its partnership with BNP Paribas Asset Management for the management of its general funds. This will further enhance the Asset Manager’s offering in long-term savings and accelerate its growth through the development of its expertise in insurance asset management.
Long-term partnership with Belgian insurer Ageas
BNP Paribas strengthened its alliance with Ageas, increasing its stake from 14.9% to 22.5% through its insurance subsidiary BNP Paribas Cardif. Subject to the necessary regulatory approvals, this transaction would consolidate its position as a major investor in Belgium’s leading insurer. Meanwhile, Ageas took full ownership of its subsidiary AG Insurance by acquiring the remaining 25% stake held by BNP Paribas Fortis. The two groups also extended their distribution agreement by 15 years, thereby renewing their long-standing exclusive relationship and providing a sustainable framework to accelerate the development of their bancassurance solutions in Belgium. AG Insurance also entered into a long-term partnership with BNP Paribas Asset Management for investments in certain asset classes. Our asset manager is therefore leveraging the new offering available to its insurer and pension fund clients, resulting from its recent merger with AXA IM.
(1) IPE 2025. Estimate of combined assets as of 31 December 2024 including BNP Paribas Asset Management, AXA Investment Managers, BNP Paribas Real Estate Investment Management and the assets delegated by BNP Paribas Cardif.