Ageas UK and Groupama have announced they are in exclusive discussions in the UK.
The talks are about the sale of Groupama's UK non-life insurance business excluding its broker operations.
In a joint statement today they stated: "The exclusivity is granted for a period of approximately four weeks. Both parties will refrain from any further comment until the discussions have been concluded."
Groupama Insurances offers a range of personal accident, car, motorcycle, home, travel and commercial insurance in the UK with gross written premium reaching £408m as at 31 December 2011.
Groupama's individual personal accident insurance provides cover for; accidental death, loss of limb or limbs, eye or eyes and hearing; and disablement if accidental bodily injury was sustained.
It also provides business personal accident insurance offering a company benefit in the event of accidental death or disablement sustained by an insured employee.