Download en-comp any profile cardif lux vie-09/2014

Cardif Lux Vie celebrates 20 years
In 2014, Cardif Lux Vie celebrates its 20th anniversary: 20 years of international
expertise in the service of its partners and their clients.
Cardif Lux Vie synopsis
An insurance company created by the merger of two established Luxembourg
entities, Cardif Lux International and Fortis Luxembourg Vie.
- Created on 31 December 2011, Cardif Lux Vie is owned by three shareholders:
BNP Paribas Cardif (33.34%), BGL BNP Paribas (33.33%) and Ageas (33.33%).
- A balanced strategy by developing three business lines: Retail, Corporate, and
Wealth Management.
- Internationally recognised legal, patrimonial and financial expertise.
- A strong and independent corporate culture based upon an open architecture
distribution model, guaranteeing a high level of performance.
Key figures at 31/12/2013
-
Assets under management: €15.1 billion
Annual receipts: €2.4 billion
Solvency ratio: 121%
1st Luxembourg company in terms of receipts (Source ACA 2013)
2nd largest Luxembourg company in terms of assets under management
(Source ACA 2013)
- Net Banking Income: €80.2 million
- Gross Operating Income: €39.7 million
Personalised service
Cardif Lux Vie provides its clients and partners access to policy information via a
secure extranet site: e-club. The user friendly interface enables policyholders and
intermediaries to view general policy data with total confidentiality: accessible
information includes policy composition and valuation, transaction history,
investment split by asset type, fund characteristics, portfolio performance and more.
Cardif Lux Vie, a high profile partner
Cardif Lux Vie is a life assurance company based in
Luxembourg and was created from the merger, on 31
December 2011, of two existing high profile insurers
within the Luxembourg insurance market, namely
Cardif Lux International and Fortis Luxembourg Vie.
With an extensive European network of partners and
a comprehensive range of products and services, the
company provides efficient and flexible products to
the specific requirements of a local and international
clientele.
With vast financial, legal and fiscal expertise, Cardif
Lux Vie makes its ambitions clear: to enhance its
ability and resource in order to pursue a balanced and
controlled development.
Landmarks
- Assets under management in 2013: €15.1 billion
- Annual receipts in 2013: €2.4 billion
- Solvency ratio as at 31 December 2013: 121%
- 220 employees
- 1st largest Luxembourg company in terms of receipts
(Source ACA 2013)
a quality shareholder structure
The company is owned by three shareholders: BNP
Paribas Cardif (33.34%), BGL BNP Paribas (33.33%) and
Ageas (33.33%).
BNP Paribas Cardif is the insurance subsidiary of the
BNP Paribas Group, a European leader in banking
and financial services as well as one of the most
substantial banks in the world.
As global player in personal insurance, BNP Paribas
Cardif ranks among the top 10 European insurance
companies and continuously strives to maintain
its position as an international leader in insurance
partnerships.
-
Gross Written Premiums in 2013: €25.3 billion
Net banking income in 2013: €2.1 billion
Strong presence in Europe, Asia and Latin America
Nearly 10,000 employees
Partnerships with 35 of the 100 top global banks
Operating in the domain of Retail Banking, Wealth
Management and Corporate & Investment Banking,
BGL BNP Paribas offers a comprehensive range of
products and services to its individual, professional,
corporate and institutional clients.
-
Net banking income in 2013: €1.4 billion
Top employer in the Luxembourg financial sector
More than 2,600 employees
BGL BNP Paribas is 66% owned by BNP Paribas
(directly and indirectly through BNP Paribas Fortis)
and 34% by the Luxembourg State
- Elected “Private Bank Best in Luxembourg” in 2014
(Euromoney)
ageas is an international insurance group with more
than 180 years’ experience. Ranked in the European
Insurance Top 20, Ageas concentrates its activities
in Europe and Asia, when combined, form the largest
insurance market in the world.
- Gross Written Premiums in 2013: €23.2 billion
- Net insurance income: €625 million
- Total business under management at end 2013:
€69.2 billion
- More than 13,000 employees in 12 countries
- Group solvency ratio: 214% / insurance solvency
ratio: 207%
EN-COMPANY PROFILE CARDIF LUX VIE-09/2014
The best of both worlds
a balanced and controlled development strategy
Cardif Lux Vie aims to enhance its three complementary
business lines.
retail
Cardif Lux Vie primarily distributes its products via
the networks of BGL BNP Paribas, to include: bank
branches, Private Banking Centers and dedicated
corporate teams. Already well established in the local
market, with its wide range of tax efficient products
(such as: life assurance, investment savings policies,
private and corporate pensions), the company is
pursuing its future development with the launch of
new concepts based on innovative services.
- BGL BNP Paribas Network – Retail and Corporate
Bank in Luxembourg: 40 branches and 6 Private
Banking Centers, 1 Corporate Business Center
- Assets under management in 2013: €1.3 billion
Corporate
Cardif Lux Vie has more than 30 years of sound
experience in the group insurance sector and aims to
strengthen its presence with local and multinational
companies.
Its range of insurance products has been designed
to meet the specific needs of companies through the
development of custom tailored pension and savings
plans plus protection schemes for their employees.
Providing first class financial, actuarial, legal and
fiscal expertise, as well as quality client service
administration, skilled fund management, resource
pooling, and considerable financial strength, whilst
ensuring compliance with long term undertakings, are
just some of the reasons why numerous companies
place their trust in Cardif Lux Vie.
- Distribution by brokers, directly and through banking
channels
- More than 17,000 affiliates, 500 active corporate
plans
- Assets under management in 2013: €200 million
Wealth Management
Cardif Lux Vie aims to offer asset structuring solutions
to a “High Net Worth Individual” (HNWI) and “Ultra
High Net Worth Individual” (UHNWI) clientele.
Marketing its product range within the framework
of the European directive on the Free Provision of
Services (LPS), the company offers personalised
solutions to the residents of many European countries
including: France, Belgium, Luxembourg, Spain,
Italy, Portugal and the United Kingdom. It also has a
strong experience in countries outside the European
Economic Area. Additionally, it operates on the basis of
in-depth studies in order to ensure strict compliance
with current rules on product eligibility, distribution
and taxation.
Cardif Lux Vie thus offers tailored client solutions to
meet specific needs within an international framework
(expatriates, “returnees”, etc.).
With a strong and independent corporate culture based
on an open architecture, Cardif Lux Vie guarantees a
high level of performance and success. Constantly
striving for excellence trough innovation, business
is not only developed through the internal partners
of the BNP Paribas Group but, moreover, through
its partnerships with major financial institutions,
European private banks and independent broker
networks.
- Assets under management in 2013: €13.6 billion
- Policies combining four investment structures:
Internal Dedicated Funds, Internal Collective Funds,
External Funds and General Fund.
The advantages of Luxembourg
life assurance
With a clear and detailed legal framework, life
assurance is internationally recognized thus providing
a safe and efficient asset transfer vehicle. In addition
to its general characteristics, Luxembourg life
assurance offers a number of advantages.
a legal framework providing the policyholder with
the highest levels of protection
A client of an insurance company in the Grand-Duchy
of Luxembourg benefits from a legal protection regime
unique in Europe, adding a true advantage in asset
security. The principles established by Luxembourg
regulations are as follows:
- The choice of a custodian bank is subject to the
supervisory control of the insurance commission
authority (CAA – Commissariat aux Assurances).
- A tripartite agreement must be signed between
the Luxembourg insurance company, the custodian
bank and the CAA.
- The custodian bank is required to keep the client’s
assets segregated from its own and is legally bound
to protect the interests of the policyholder
- The “Super Privilege” insures the rights of the
policyholder in the event of the company’s default,
and takes precedence over all other creditors
(Luxembourg Treasury, Social Security, company
employees).
international expertise
Luxembourg life assurance is characterised by a
long tradition of financial expertise and an in-depth
knowledge of the requirements of HNWI and UHNWI
clientele in all countries in which the company
operates.
retaining management under mandate
Dedicated Internal Funds facilitate the discretionary
management of investments by taking into account
the client’s risk profile and financial objectives. Asset
management is delegated to a financial manager
who is nominated by the policyholder, and as such,
the partner retains their relationship with the client.
Personalised financial management
Luxembourg regulations allow the policyholder to
have access to a very wide range of innovative and
sophisticated financial assets.
Complete tax neutrality
From a tax perspective, the Luxembourg life assurance
policy provides tax neutrality for non-residents
of Luxembourg. The tax regime applicable for both
policyholders and beneficiaries of a Luxembourg life
assurance policy is, in principle, that of their country
of residence.
Cardif Lux Vie Société Anonyme
Siège social : 23 - 25 Avenue de la Porte-Neuve | L-2227 Luxembourg | Tél. : (+352) 26 214 - 1 | Fax : (+352) 26 214 - 9371
Adresse postale : B.P. 691 | L-2016 Luxembourg | [email protected] | www.cardifluxvie.lu | R.C.S. Luxembourg B47240
EN-COMPANY PROFILE CARDIF LUX VIE-09/2014
The Cardif Lux Vie life assurance
policy