Cardif, subsidiary of BNP Paribas Assurance, was elected “Best financial institution 2004” in the Life Insurer category in Poland.
For an award ceremony organized by “Rzeczpospolita”, Poland’s national daily, winners were nominated by a jury which included the Minister of Finance, the chairman of the Central Bank, the president of the Warsaw Stock Exchange, the CEO of KPMG, the Editor-in-chief of “Rzeczpospolita”, and the chairman of the insurance and pension fund supervisory body, KNUIFE.
This award acknowledges the financial strength and excellent performance of Cardif Poland in 2004, with a revenue growth rate of +83% vs. 2003. Leader in Creditor Insurance (CI) and ranked 7th in Life Insurance in Poland, Cardif extended its product range and increased its penetration rate.
In addition to Creditor Insurance products, Cardif distributes individual savings (through a pension fund jointly owned with the Polish Post Office) and protection, as well as Group Insurance contracts for corporations.
Located in Warsaw, with a staff of 30 people, Cardif Poland today distributes its products through banks, consumer credit companies and post office branches. It boasts nearly 4 million policyholders.
Cardif (www.cardif.com) is a life insurance company with BNP Paribas Assurance, creating and marketing since 1973 products and services in savings and protection via multiple distribution channels. Present in 30 countries, with a significant and growing presence in Europe, Asia and South America, Cardif today works with over 150 institutional partners worldwide. Cardif figures among the world leaders in creditor insurance.
BNP Paribas Assurance (www.assurance.bnpparibas.com) is the insurance arm of the BNP Paribas Group. It employs over 4,500 people including 2,900 out of France. In 2004, earnings reached € Bn 11.4, with over 26% contributed by foreign subsidiaries.