Netherlands-based ABN AMRO Bank N.V. (ENXTAM:ABN) has announced plans to sell its stake in French insurer, Neuflize Vie S.A., a joint venture. Neuflize Via is to be sold to BNP Paribas Cardif S.A., the insurance subsidiary of France-based BNP Paribas Group. Neuflize Vie is owned by ABN AMRO (60%) and AXA (40%).

The value of the deal has not been announced. In addition, BNP Paribas Cardif and Neuflize OBC, ABN AMRO's French private banking unit, will enter into a strategic partnership to sell insurance products to customers.