Banken for en verden i endring The bank for a ... - BNP Paribas

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BNP Paribas assurance BNP Paribas Assurance designs and markets its products and services under two brands: BNP Paribas for products distributed by the BNP Paribas network in France and Cardif for the other networks and distribution partners in France and international markets. It operates in 35 countries including 5 in Latin America, 20 in Europe and 7 in Asia. • The savings business includes the sale of life insurance policies to individuals in 13 countries. In France, it offers companies Group pension products, end-of-career bonuses and early retirement benefi ts. • In the protection business, it offers a broad range of products in 32 countries, including creditor insurance, bill protection, credit card protection, extended warranty, gap insurance and individual protection. In France, BNP Paribas Assurance markets both standard and personalised Group policies to large companies and SMEs. • The property and casualty insurance business in France is provided through Natio Assurance, a company that is owned equally with AXA. The products offered cover a wide range of risks and include comprehensive home insurance, automobile insurance, educational insurance, travel insurance, and legal protection coverage. BNP Paribas Assurance’s partners comprise 35 of the world’s 100 leading banks and a large number of fi nancial institutions, including consumer credit companies, credit subsidiaries of car makers and major retail groups. BNP Paribas Assurance is the 4th-largest life insurer in France (source: FFSA) and no. 2 worldwide in creditor insurance (1) . Steady growth In 2006, BNP Paribas Assurance benefi ted from buoyant markets, the experience acquired in its various operating regions and its close partnerships to generate global revenues of EUR 15.6 billion, an increase of 20%. Savings infl ows reached EUR 12.6 billion, EUR 10.2 billion of which was gathered in France (up 18%), and EUR 2.3 billion outside France (up 41%). In France, BNP Paribas Assurance’s new infl ows benefi ted from the Bank’s sales and marketing drive and changes in the tax treatment of home savings plans (Plans d’épargne logement). The BNP Paribas’ branch network and its Private Banking Business, which together accounted for 76% of total new savings infl ows in France, thus registered 22% growth in new money. Following on the heels of 2005’s exceptional performance, the independent fi nancial advisors business in France continued to expand. BNP Paribas Assurance is a major player in the ULIP (Unit-Linked Insurance Plan) market, with ULIPs representing 43% of new infl ows. Thanks to its long experience in this market, it has become no. 1 in unit-linked infl ows (source: FFSA). Outside France, bancassurance offers very promising opportunities in Asia, through the marketing of «Horizon funds» by its joint venture partners State Bank of India in India and Shinhan Bank in South Korea as well as the success of structured products in Taiwan, where new infl ows topped EUR 598 million. Europe, which accounts for 63% of international savings infl ows, reported a robust 24% rise in revenues, mainly thanks to the United Kingdom. (1) BNP Paribas rankings based on information published by competitors. With four new operations launched in 2006, BNP Paribas Assurance is now present in 35 countries In 2006, BNP Paribas Assurance began operations in Peru, Algeria, Bulgaria and Romania. With the exception of North Africa, where Algeria is its first location, BNP Paribas Assurance intensifi ed its presence in regions where it already held strong positions. “Ensuring your trust”: a corporate signature for the Cardif brand Through this signature, Cardif describes its core business, the quality of the relationship and the proximity that it maintains with its partners. Translated into six languages, this corporate signature was launched through 65 advertisements in the international economic and fi nancial press with the lead-in: “At Cardif, you are not just a number”.
Revenues generated by the protection business reached EUR 3 billion. BNP Paribas Assurance operates in contrasting markets: some are growing rapidly and others are highly competitive. Against this backdrop, BNP Paribas Assurance continued to post double-digit growth in revenues (up 14%), thanks to contributions from fast-growing economies: Poland (up 31%), Italy (up 58%) and Chili (up 53%). Business expanded rapidly in France as well, with 46,000 Cardif creditor insurance policies sold through brokers and the BNP Paribas network. Natio Assurance, BNP Paribas Assurance’s property and casualty insurance arm owned 50/50 with AXA, fuelled growth in its motor insurance range through a major advertising campaign. Global revenues rose 7% to reach EUR 86 million in 2006, with motor insurance policies providing 41% of the increase. >>> Cardif publishes Visions of a world in search of protection As a major player in the international protection market, Cardif wanted to gain a better understanding of the needs and expectations of the people it insures in order to accompany its partners in their development and to show that its business model consists in adapting products to their needs and the specifi c cultural context. To do so, in 2005 and 2006 Cardif conducted a survey on consumer behaviour and expectations regarding budget protection with a sample population of 18,000 persons in 18 countries, working with TNS Sofres. Cardif decided to enhance this factual data by giving 11 key fi gures from around the world in a variety of fi elds the opportunity to express their opinions in a book published in three languages. BNP Paribas Assurance joins the Chief Financial Officer Forum In September, BNP Paribas Assurance joined the select Chief Financial Officer Forum (CFO Forum), a think tank made up of the chief fi nancial offi cers of the major European insurance companies. This circle brings together 20 European leaders from eight different countries. Taking part in the CFO Forum enables the company to better understand the forum’s positions, to more quickly incorporate its recommendations into BNP Paribas Assurance’s fi nancial models, but also to have greater weight in insurance–related discussions. aASSET MANAGEMENT AND SERVICES 70-71
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Annual report 2006 The bank for a c
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key figures Net banking income (in
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chairman’s and chief executive of
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outlook FRENCH RETAIL BANKING For 2
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executive committee Pierre Mariani
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corporate governance a b c d e f g
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j. Jean-François Lepetit Elected o
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s Changes in shareholder structure
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Jan. 05 Feb. 05 Mar. 05 Apr. 05 May
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s BNP Paribas uses two methods to m
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Page 26 and 27: promoting innovation BNP Paribas ha
Page 29 and 30: CORPORATE AND INVESTMENT BANKING GL
Page 31 and 32: e The Equities and Derivatives busi
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Page 35 and 36: cCORPORATE AND INVESTMENT BANKING c
Page 37 and 38: • It was also a record year for p
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Page 42 and 43: individual clients Powerful drive t
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Page 46 and 47: Regional Trading Rooms Against a ba
Page 49 and 50: INTERNATIONAL RETAIL BANKING AND FI
Page 51 and 52: Cetelem steps up its development in
Page 53 and 54: mortgage financing UCB and its subs
Page 55 and 56: BancWest forged ahead with its deve
Page 57: The Bank also set up operations in
Page 60 and 61: 2006, a benchmark year for the BNL
Page 63 and 64: ASSET MANAGEMENT AND SERVICES The A
Page 65 and 66: • socially responsible products (
Page 67 and 68: France • Long-term asset gatherin
Page 69 and 70: Developing integrated technology pl
Page 71: Property Management In commercial r
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Page 77: BNP PARIBAS PRINCIPAL INVESTMENTS B
Page 80 and 81: a Responsibility based on core valu
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Page 84 and 85: human resources development The peo
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Page 90 and 91: a partner in society A deepening co
Page 92 and 93: p Youth outreach programs BNP Parib
Page 94 and 95: pIt supports international initiati
Page 96 and 97: glossary Accretion ADR (American De
Page 98 and 99: Euronext SA FCP (Fonds Commun de Pl
Page 100 and 101: OPV (Offre Publique de Vente) ORA (
Page 102: Subscription right TBB (Taux de Bas
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