Cetelem, 100% subsidiary of BNP Paribas Group, No 1 in continental Europe in consumer finance , offers to its clients an opportunity to sign insurance contract against personal accident and illness simultaneously with the loan contract . The Insurance company CARDIF is the partner of Cetelem for the Insurance program.
Insurance against accident and illness is offered at points of sale in all 19 regions of Cetelem presence in Russia. The product at launch covers against incidents leading to death and total permanent disability of the client. The insurance is voluntary. For client willing to subscribe, policy is signed simultaneously with the loan contract in order to save client’s time.
The product allows clients to protect himself and his relatives against life hazards leading to incapacity to repay loan: if insurance case occurs (client’s death or disablement (I or II group)) the insurance company (OOO “Insurance company CARDIF”) reimburses the loan to the Bank on client’s behalf.
"Our vision of meeting the needs of the clients is the foundation of strong synergies within the BNP Paribas Group, - said Philippe Delpal CEO of Cetelem in Russia. “Cetelem was delighted to announce a partnership with CARDIF insurance company. Soon we are going to expand this partnership and the range of insurance products offered by CARDIF will be widened".
CARDIF is a BNP Paribas Assurance's company, the insurance arm of BNP Paribas. Being No 1 worldwide creditor insurance company it develops and markets its products and services via multiple partners in 41 countries. CARDIF holds "AA" rating assigned by Standard & Poor’s.
July 2007 CARDIF created 100% subsidiary in Russia (OOO “Insurance company CARDIF”) which received a license for insurance activities in the late 2007.
About Cetelem and BNP Paribas Personal Finance
BNP Paribas Personal Finance (www.bnpparibas-pf.com), operating under Cetelem brand is #1 in France and Europe in personal loans: car loans, points-of-sale loans, consumer loans, credit cards, mortgage etc.
With 29 000 employees in 30 countries on 4 continents and over €100 billion in outstanding loans as of the end 2007, BNP Paribas Personal Finance is Europe’s leading multi-specialist with the ability to offer a comprehensive range of personal loans. It is also a reference in the field of responsible lending.
About Cetelem in Russia
Cetelem (www.cetelem.ru) offers a whole range point-of-sale credit products tailored both to retailers, car dealers and their customers. The company is presented in more than 19 regions in Russia, where it operates since 2007 as a structural unit of “BNP Paribas” ZAO.
