Crédit Agricole S.A. (ENXTPA:ACA) has expressed interest for the insurance activities of Banco BPM, the French banking group's Italy head said. Banco BPM has exercised a call option to gain full ownership of its insurance joint-venture with France's COVEA and will consider offers from potential new partners in light of the strong interest shown by various players for its insurance assets. Credit Agricole is the single biggest investor in Banco BPM having recently acquired a 9.2% stake.

Speaking on the sidelines of a conference, Giampiero Maioli said Credit Agricole Italy would strive to offer the best conditions for the assets.