Cardif is an international insurance company based in

France France (), officially the French Republic ( ), is a country primarily located in Western Europe. It also comprises of Overseas France, overseas regions and territories in the Americas and the Atlantic Ocean, Atlantic, Pacific Ocean, Pac ...

with a presence worldwide. The company is part of the

BNP Paribas BNP Paribas is a French international banking group, founded in 2000 from the merger between Banque Nationale de Paris (BNP, "National Bank of Paris") and Paribas, formerly known as the Banque de Paris et des Pays-Bas. The full name of the grou ...

Group.

History

In 1973 the French bank ''Compagnie bancaire'' founded a life insurance company ''Compagnie d'Assurance et d'Investissement de France'' (CARDIF). Since 1998 the company is part of the BNP Paribas Group. In 2022, Cardif’s global operations had a workforce of about 8,000 and a presence in 33 countries.

2014-16

On 7 April 2014 BNP Paribas Cardif was sanctioned and fined 10 million euros by the disciplinary committee of the "Authority of prudential supervision and resolution" (ACPR -

Bank of France The Bank of France ( French: ''Banque de France''), headquartered in Paris, is the central bank of France. Founded in 1800, it began as a private institution for managing state debts and issuing notes. It is responsible for the accounts of the F ...

) for shortcomings and delays in complying with its legal obligations and which resulted in wrongful retention of amounts that should have been paid to beneficiaries of unclaimed life insurance policies (origin, Le Particulier No. 1097). In 2015, BNP Paribas Cardif was planning on upping its stake in SBI Life in India to 36 percent, up from 26 percent.

2017-19

In 2017, BNP Paribas Cardif purchased

Ageas Ageas is a Belgian multinational insurance company co-headquartered in Brussels. Ageas is Belgium's largest insurer and operates in 14 countries worldwide. The company was renamed from Fortis Holding in April 2010 and consists of those insurance ...

' Italian insurance unit (Cargeas Assicurazioni). BNP Paribas Cardif in 2018 had agreed to purchase a partial stake to SBI Life Insurance, after co-founding the joint venture with the

State Bank of India State Bank of India (SBI) is an Indian multinational public sector bank and financial services statutory body headquartered in Mumbai, Maharashtra. SBI is the 49th largest bank in the world by total assets and ranked 221st in the ''Fortune ...

in 2001 and already owning 22 percent. BNP Paribas Cardif SA then sold 9 percent of SBI Life Insurance to

Carlyle Group The Carlyle Group is a multinational private equity, alternative asset management and financial services corporation based in the United States with $376 billion of assets under management. It specializes in private equity, real assets, and pri ...

in 2019. After another sale later that month, that left BNP Paribas Cardiff's stake in SBI Life Insurance at 7.7 percent, down from 12.7 percent.

2020-21

In 2020, Cardif aimed to invest €3.5 billion in green investments, up from 2017, when it had "pledged to reach €2.4 billion in green investments" before 2019. It also reduced its investments in coal companies. The insurance company, specifically the BNP Paribas subsidiary Cardif Pinnacle, in July 2020 was censured by the U.K.

Competition and Markets Authority The Competition and Markets Authority (CMA) is the competition regulator in United Kingdom. It is a non-ministerial government department in the United Kingdom, responsible for strengthening business competition and preventing and reducing anti-com ...

for breaches of PPI rules, along with

Lloyds Bank Lloyds Bank plc is a British retail banking, retail and commercial bank with branches across England and Wales. It has traditionally been considered one of the "Big Four (banking), Big Four" clearing house (finance), clearing banks. Lloyds B ...

and Nationwide. Cardif was in talks in May 2020 to buy a stake in the life insurer of PT

Bank Rakyat Indonesia PT Bank Rakyat Indonesia (Persero) Tbk ( 'Indonesian People's Bank', commonly known as BRI) is one of the largest banks in Indonesia. It specialises in small scale and microfinance style borrowing from and lending to its approximately 30 mill ...

, after submitting the highest bid for PT Asuransi BRI Life. The sale was reported to be for around $500 million.

Cardif Netherlands

Cardif has been active in the Dutch market since 1996. In 2000, the Dutch headquarters moved from

Breda Breda () is a city and municipality in the southern part of the Netherlands, located in the province of North Brabant. The name derived from ''brede Aa'' ('wide Aa' or 'broad Aa') and refers to the confluence of the rivers Mark and Aa. Breda has ...

Oosterhout Oosterhout (; from ''ooster'', "eastern", and ''hout'', "woods") is a municipality and a city in the southern Netherlands. The municipality had a population of in . Population centers The municipality of Oosterhout includes the following pla ...

, currently employing 120 people. More than 600,000

Dutch people The Dutch (Dutch: ) are an ethnic group and nation native to the Netherlands. They share a common history and culture and speak the Dutch language. Dutch people and their descendants are found in migrant communities worldwide, notably in Arub ...

have Cardif insurance. Cardif specialises in

life insurance Life insurance (or life assurance, especially in the Commonwealth of Nations) is a contract between an insurance policy holder and an insurer or assurer, where the insurer promises to pay a designated beneficiary a sum of money upon the death ...

and insurance that protects people’s personal situations. In the Netherlands, Cardif is the

market leader Market dominance describes when a firm can control markets. A dominant firm possesses the power to affect competition and influence market price. A firms' dominance is a measure of the power of a brand, product, service, or firm, relative to c ...

in mortgage protection. Cardif’s insurance products are sold by independent

financial advisor A financial adviser or financial advisor is a professional who provides financial services to clients based on their financial situation. In many countries, financial advisors must complete specific training and be registered with a regulatory ...

s and banks.

Cardif Pinnacle (UK)

Cardif Pinnacle is a UK subsidiary of Cardif, The business was formed in 1971 as Pinnacle Insurance Company Ltd,About Us
Cardif Pinnacle. Retrieved 10 October 2018About Us
Everypaw. Retrieved 10 October 2018About Us
Helpucover. Retrieved 10 October 2018 and is focused upon the provision of creditor, pet insurance and motor warranty insurance. The strategy of the business is to ensure that customers are well serviced whilst focusing on the operational capabilities and efficiency. The business is making ongoing investment into its pet and warranty propositions. Cardif Pinnacle group owns a motor warranty business,

Warranty Direct Warranty Direct is a provider of direct consumer warranties based in the United Kingdom. The brand advertises products such as new car warranty, and extended warranty. History Extended warranties were the norm in North America, and were grow ...

Ltd which arranges warranty and Gap insurance both direct to consumers and via intermediaries. They also own two

pet insurance Pet insurance is a form of insurance that pays, partly or in total, for veterinary treatment of the insured person's ill or injured pet. Some policies will pay out when the pet dies, or if the pet is lost or stolen. As veterinary medicine is in ...

brands

helpucover helpucover is a Hertfordshire-based insurance company that specialises in pet insurance and "gadget" and mobile phone insurance. It had previously offered mortgage protection insurance, income protection insurance, and appliance warranties.

since 2000 and Everypaw since 2017.

Joint ventures

* BOB-Cardif Life (joint venture with

Bank of Beijing Bank of Beijing Co., Ltd. (abb. BOB) is an urban commercial bank based in Beijing, China. According to the bank, most of the revenue came from Beijing, despite that the banking group had more than half of the branches located outside the Direct- ...

)
BNP Paribas Cardif Life Korea
(joint venture between BNP Paribas Cardif and Shinhan Financial Group)

References

External links

BNPParibasCardif.com
{{Authority control Companies based in North Brabant Insurance companies of the Netherlands Oosterhout Insurance companies of the United Kingdom