Italy: a second domestic market for BNP Paribas Cardif
14/06/2011
The acquisition of BNL* by BNP Paribas and UBI Assicurazioni by BNP Paribas Cardif made the company one of the top five players in the Italian bancassurance market.
In protection, BNP Paribas Cardif has been among the first companies to provide creditor insurance in Italy. It now boasts a leadership position in this sector with a 30-percent market share and top-tier partners.
In savings, BNP Paribas Cardif has been a bancassurance pioneer in Italy since 1990. The impending consolidation of BNL Vita, BNP Paribas Cardif is strengthening its offer of savings bancassurance products.
In non-life insurance, the acquisition of majority stake in UBI Assicurazioni, a leader in property and casualty insurance, will enable BNP Paribas Cardif to expand its portfolio and accelerate development in this buoyant segment. Car and all-risk home insurance will be introduced starting in 2011 through the BNL and Findomestic (Personal Finance) networks.
