Press Release 28 Apr 2009

CACI Dublin, insurance subsidiary of Crédit Agricole celebrates 10 years in Ireland.

CACI Life and CACI Non-Life based in Beaux Lane House in Mercer Street, Dublin, subsidiaries of Crédit Agricole SA,  Europe’s leading Bank, celebrates 10 years operating in Ireland this week.

Speaking at a reception to mark the event, CACI Ireland Chief Executive, Jean Pierre Paumier, said that, from its headquarters in Dublin the company had, since its establishment in 1999, developed into a very unique cross-border institution operating in 14 countries in Europe selling payment protection insurance and related products. 

Mr Henri Le Bihan, Director of CACI Holdings said that the progress of the company since 1999 was outstanding with more than 52 people employed and €681 million in written premiums in 2008. He added that “the success of the business was due in no small part to the operating environment in Ireland especially the combination of professional and language skills that has enabled the company to develop a centre of excellence in underwriting and actuarial matters, claims management, with a multi-lingual claims teams able to support our complex business across fourteen countries Europe and Finance, audit and compliance.”
 
Mr. Le Bihan also announced that from the 1st April the company had begun to write business from Dublin via its branches in France and that this was a very exciting development that would strengthen and lead to further growth in Dublin.
 
Mr. Barry O’Leary, CEO of IDA Ireland, congratulated CACI on its remarkable growth. “It is the success of companies such as CACI that have helped establish Ireland as a financial services global hub. CACI is an excellent example of an international company which has recognised and availed of Ireland’s many advantages to grow its global business. Irish operations of international financial services companies need to constantly develop their strategic importance within their parent company, CACI is a fine demonstration of this. In furtherance of this goal, IDA is particularly focused on encouraging the implementation of Research, Development and Innovation (RD&I) as a core activity,” said Mr. O’Leary.
 
BACKGROUND INFORMATION

CACI Insurance Group specialises in payment protection insurance and sells and administers policies in 14 European Countries from its headquarters in Dublin under the Freedom of Services directive. In addition the Irish operation has recently opened two branches in France which will enable it to grow the business substantially on a Freedom of Establishment basis.
Crédit Agricole is France’s foremost banking group with 28% of the consumer market. The Crédit Agricole Group is the Number 1 banking group in Europe in terms of retail banking revenues.
 
If you would like more information about anything in this Press Release please contact –
Patricia Cronin, CACI,   Tel: (01) 6039619