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Cardif launches business in Switzerland

Cardif, a global personal insurance Group and a BNP Paribas subsidiary, has just been licensed to operate in life and non-life insurance in Switzerland.
Business is scheduled for launch during Q1 2005, with unemployment insurance. In the long-term, the offer should stretch to cover other risks, such as mortgages, consumer credits and leasing contracts.

With a population of 7.2 million inhabitants, and earnings of USD Bn 24.7, Switzerland is the 10th world market for life insurance.
This new location in Zurich is the latest step in the deployment of the Group's European presence, currently in 17 countries. It is part of Cardif's international development strategy, with 29 locations in the world.

Cardif is a life insurance company with BNP Paribas Assurance, the insurance arm of the BNP Paribas Group. Since 1973, Cardif has offered a range of products and services in individual and group savings, retirement and protection, to individuals and corporations. In 2003, earnings reached euros Bn 4.64, with 48% contributed by foreign subsidiaries. Present in 29 countries, Cardif today works with over 150 institutional partners worldwide.

BNP Paribas ( is a European leader in banking and financial services, with a significant and growing presence in the United States and leading positions in Asia. The most profitable bank in the Euro zone, it has a presence in 85 countries with 89,400 employees. The group enjoys key positions in Corporate and Investment Banking, Private Banking & Asset Management, Insurance, Securities Services and Retail Banking.