Report: CNP Assurances explores takeover of insurer Coface

French life insurer CNP Assurances, a subsidiary of state-backed La Banque Postale, is exploring a takeover of credit insurer Coface and is working on an offer, according to a Bloomberg report dated 18 September 2026. Coface shares rose 8.9% in Paris that day, valuing the company at around €2.6bn; no price or timetable was disclosed. For a deal to succeed, CNP would need to win over Coface's largest shareholder Arch Capital Group (29.9%); deliberations are at an early stage according to the people familiar, and other bidders could still emerge. Single-source press report (Bloomberg) — CNP, Coface and Arch Capital declined to comment (source: Bloomberg via Insurance Journal, 21 Sep 2026; Zonebourse via Boursorama, 21 Sep 2026).