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March 30, 2015 12:38 PM ET

Insurance

Company Overview of BNP Paribas Cardif S.A.

Company Overview

BNP Paribas Cardif S.A. provides insurance products to personal and business customers in Europe, Asia, and Latin America. Its products include life insurance, non-life insurance, creditor insurance, pension products, health insurance, property and casualty insurance, and savings and protection insurance products. It offers its products through banks, credit companies, the insurance units of automotive manufacturers, retail chains, insurance brokers, telecoms operators, etc. The company is headquartered in Paris, France. BNP Paribas Cardif S.A. operates as a subsidiary of BNP Paribas SA.

1 boulevard Haussmann

Paris,  75009

France

Key Executives for BNP Paribas Cardif S.A.

Chairman and Chief Executive Officer
Head of Cardif network in France
Deputy Chief Executive Officer and Head of The Finance, Risk Management & Legal Affairs Departments
Director and Chief Executive Officer of BNP Paribas Personal Finance
Director, Chairman of BNP Paribas Personal Investors and Chief Executive Officer of BNP Paribas Personal Investors
Age: 61
Compensation as of Fiscal Year 2014.

BNP Paribas Cardif S.A. Key Developments

SBI To Reportedly Lower Stake In BNP Venture

State Bank of India (BSE:500112) is planning to cut its stake in its life-insurance venture SBI Life Insurance Company Limited with BNP Paribas Cardif S.A., in a move that would raise the French partner's holding to 49%, said people familiar with the matter. The reduction would precede an initial share sale in SBI Life Insurance, 74% owned by SBI, that might happen in the financial year starting April 1, the people said. The sources didn't disclose whether SBI would sell shares to BNP Paribas Cardif or whether the French insurer would make additional investments in SBI Life to raise its 26% stake.

SBI To Divest Stake In Life and General Insurance

State Bank of India (BSE:500112) is planning to divest part of its stakes in SBI Life Insurance Company Limited and SBI General Insurance Company Limited as its joint venture partners want to increase their stakes. SBI holds 74% stake each in SBI Life Insurance, its joint venture with BNP Paribas Cardif S.A.; and SBI General Insurance, its joint venture with Insurance Australia Group Limited (ASX:IAG). According to SBI, domestic and international investors have also shown interest in picking up its stakes in the two JVs.

BNP Paribas Cardif S.A. Names Renaud Dumora as Deputy Chief Executive Officer

At its meeting on 12 January 2015, the Board of Directors of BNP Paribas Cardif named Renaud Dumora Deputy Chief Executive Officer. He will work alongside Pierre de Villeneuve on deploying the company's strategy, which is centred on diversification and international development of the savings and personal protection businesses in Europe, Asia and Latin America. A member of the BNP Paribas Cardif Executive Committee since 2007, Renaud Dumora will continue to head the Finance, Risk Management and Legal Affairs departments. This change reflects ongoing continuity in the company's senior management and is accompanied by the appointment of two new Chief Operating Officers, Olivier Cortes, head of Efficiency, Technology & Operations, and Olivier Hereil, head of Asset Management.

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