On September 1st, SH&C Life Insurance was renamed Cardif. The change follows the signature in April of an agreement between BNP Paribas Assurance and Shinhan Financial Group, South Korea's third-largest banking group, under which BNP Paribas' stake in the joint venture insurance company increased from 50% to 85%.
Present in South Korea since 2002, BNP Paribas distributes its products through partnerships with five commercial banks, including Shinhan Financial Group (nearly 1,000 branches), Standard Chartered and Citibank.
Following the name change, the group wishes to offer a full range of protection-related products and services.
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