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Dec 2012 French life insurers, CNP Assurance and subsidiaries of large French banks, including BNP Paribas Cardiff, Sogécap of Société Générale and Prédicat of Crédit Agricole have set up the strategic participations fund (FSP). Together, these insurers account for nearly half the 1400 billion EUR (1811 billion USD) in market’s life outstanding amounts. Moreover, they detain 40 billion EUR (51 billion USD) in stock market investments. By joining their strategic participations in the French groups, they plan on pressing the governance of these corporations to be seated, if need be, in their board of directors. The fund remains open to other insurers.