Caci establishes R&D Centre in Dublin

This R&D centre confirms our wish to enhance our development and will contribute to our continued success.  The Dublin operation has developed very specialised and highly skilled functions which make it the perfect fit for this R&D investment.

Mr. Henri Le Bihan, CEO of Caci

PARIS, FRANCE, Wednesday, 28th September 2011: Caci, the creditor insurance subsidiary of Crédit Agricole Assurances, has announced plans to invest €3.2 million in the establishment of an R&D Centre of Excellence in Dublin with an initial focus on enhancing the Group’s risk management and modelling capabilities, with the support of IDA Ireland.

The announcement was made today from an IDA Ireland financial services event in the Irish Embassy in Paris which was attended by Paul Kavanagh, Irish Ambassador in France; John Bruton, President of IFSC Ireland; Kieran Donoghue, Head of International Financial Services, IDA; Jerome Grivet, CEO Credit Agricole Assurances; Henri Le Bihan, CEO of Caci; Jean Pierre Paumier, Caci Ireland Chief Executive.

Caci is a specialist company within Crédit Agricole Assurances which provides Payment Protection Insurance (PPI) and related products. Based in France, Caci holds activities throughout Europe with its 300 employees. In 2009, Caci celebrated 10 years in Ireland and currently has over 80 employees in Dublin.   The Irish operation has specialist capability within the group which has resulted in the R&D win for the Dublin subsidiary.

Mr. Henri Le Bihan, CEO of Caci said “This R&D centre confirms our wish to enhance our development and will contribute to our continued success.  The Dublin operation has developed very specialised and highly skilled functions which make it the perfect fit for this R&D investment.”

Mr. Barry O’Leary, CEO of IDA Ireland, congratulated Caci on this strategic investment by the company. “Irish operations of international financial services companies need to constantly develop their strategic importance within their parent company and Caci is a fine demonstration of this. 
This R&D investment is the first from a European Bank in Ireland and builds on the growing cluster of international insurance operations undertaking strategic R&D activities from Ireland."

Caci Ireland has evolved into a specialist and substantial operation in Dublin and carries out a variety of skilled activities including underwriting, pricing, reserving & solvency, claims adjudication and Third Party Administration monitoring, accounting and financial control.

Caci, subsidiary to Crédit Agricole Assurances 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 and in Italy which will enable it to grow the business substantially on a Freedom of Establishment basis.

About Crédit Agricole Assurances Group
The Crédit Agricole Assurances Group is the European leader in bancassurance and the No. 2 life insurer in France by premium income. It handles all the Crédit Agricole Group’s French and international insurance activities and comprises Predica for personal insurance, Pacifica for non-life insurance, Caci for creditor insurance, the international insurance subsidiaries, Caagis for IT management and services, as well as Spirica and LifeSide Patrimoine for life and savings insurance.

Key figures for the Crédit Agricole Assurances Group (at 31 December 2010):

• €29.7 billion in premiums
• €218.5 billion in underwriting reserves
• €984 million in consolidated net income
• More than 3,200 employees

www.ca-assurances.com

For further details please contact:
Crédit Agricole Assurances press office
Elise Bouteiller - + 33 (0)1 43 23 80 71 & +33 (0)6 26 12 41 44
Camille Langevin - + 33 (0)1 57 72 73 36
service.presse@ca-assurances.fr

IDA Ireland Press office – 01 6034226