The merger involving the insurance company Cardif Life, which has been acquired by its parent company Cardif Lux Vie, was successfully completed on 1 October 2019 following the approval of the competent regulatory authorities. ABN AMRO Life S.A. was renamed Cardif Life at the time of the closing of the acquisition transaction on September 3, 2018.

Jacques Faveyrol

“We are delighted to see this merger completed, marking the end of the process to acquire ABN AMRO Life S.A.. Our ambition at Cardif Lux Vie is to consolidate our position as a major player with a strong commitment to the international life insurance market. I am also very happy to welcome the staff of Cardif Life to our company,” commented Jacques Faveyrol, CEO of Cardif Lux Vie.

 

Contacts presse – BGL BNP Paribas
Eliane Thines           +352 42 42-62 64                 eliane.thines@bgl.lu
Corinne Thill            +352 42 42-30 85                 corinne.thill@bgl.lu
Contact presse – Cardif Lux Vie
Emilie Sansonetti    +352 26 214 5521                  emilie.sansonetti@cardifluxvie.lu

Euromoney magazine has named BGL BNP Paribas Best Bank in Luxembourg at the Euromoney Awards for Excellence 2019, which was held in London on 10 July 2019.

It is the fourth year in a row that BGL BNP Paribas has been honoured with the title.

Geoffroy Bazin, Country Head of the BNP Paribas Group in Luxembourg and Chairman of the BGL BNP Paribas Executive Committee, was delighted with the accolade: “We are particularly proud to see BGL BNP Paribas once again named Best Bank in Luxembourg by Euromoney in the year marking its 100th anniversary. This award is due recognition of our efforts to offer clients useful and innovative services that meet their expectations. I must thank our clients for their trust, just as I have to congratulate the bank’s employees on their commitment and performance.”

Euromoney also named the BNP Paribas Group World’s Best Bank for Corporate Responsibility.

 

Cardif Lux Vie is pleased to announce the appointment of Pierpaolo Dellisanti as International Markets Manager reporting to the Head of Wealth Management, Carlo Cocuzzoli.

In his new role as International Markets Manager, Pierpaolo Dellisanti will be responsible for monitoring and developing partnerships on the Italian market.

Pierpaolo Dellisanti

Pierpaolo Dellisanti, who holds a master’s degree in Economics and Business from the University of Naples Parthenope as well as a master’s degree in Service Engineering and Management from the University of Paris-Est Marne-la-Vallée, joined the BNP Paribas Group in 2010. He started out as a Relationship Manager for professional clients before heading up several Bank branches in the Parisian network. In 2018, he joined the Wealth Management Sales Support team at Cardif Lux Vie.

The diversity of Pierpaolo Dellisanti’s professional career and his expertise with high net worth individuals will prove to be valuable assets in the context of the company’s international development strategy.

 

Press contact – Cardif Lux Vie
Emilie Sansonetti       (+352) 26 214 5521                emilie.sansonetti@cardifluxvie.lu

Press contacts – BGL BNP Paribas
Eliane Thines            (+352) 42 42-62 64                eliane.thines@bgl.lu
Corinne Thill             (+352) 42 42-30 85                corinne.thill@bgl.lu

8 Group CEOs have made a firm commitment

According to figures published at the beginning of 2018 by the European Commission, “Every year, Europeans generate 25 million tonnes of plastic waste, but less than 30% is collected for recycling. Across the world, plastics make up 85% of beach litter. And plastics are even reaching citizens’ lungs and dinner tables, with microplastics in air, water and food having an unknown impact on their health.” [1]

Faced with this ecological emergency, BGL BNP Paribas has launched a number of initiatives to reduce single-use plastic waste. These include introducing the Ecobox (SuperDrecksKëscht®) in its restaurant areas, removing disposable cups, plastic cutlery and straws, and encouraging all employees to use reusable mugs, bottles and cutlery.

In an effort to take this initiative further, BGL BNP Paribas has decided to make its commitment public by signing the “Zero Single-Use Plastic” manifesto launched by IMS Luxembourg, of which the bank is a member.

The other seven BNP Paribas Group CEOs in Luxembourg, who are all fully aware of this major issue and of the key role that large companies can play, as well as their responsibility to lead by example, have also joined this initiative and have committed not only to reducing the use of single-use plastic, but to completely removing it from the company by 2020. Thus, the manifesto was also signed by Arval, Cardif Lux Vie, BNP Paribas Asset Management, BNP Paribas Securities Services, BNP Paribas Real Estate Investment Management, BNP Paribas Real Estate Advisory & Property Management and GreenStars BNP Paribas.

Geoffroy Bazin, Chairman of the BGL BNP Paribas Executive Committee and Country Head of the BNP Paribas Group in Luxembourg, who initiated this joint initiative, explained: “BNP Paribas Group in Luxembourg is using all the means at its disposal to accelerate the transition towards a greener economy. We are offering our clients products and services that enable them to make a tangible contribution to this transformation, and we are also doing everything we can to reduce our own footprint. By signing the “Zero Single-Use Plastic” manifesto, BNP Paribas Group in Luxembourg is reaffirming its policy of reducing its direct environmental impact.”

[1] http://europa.eu/rapid/press-release_IP-18-5_en.htm

BGL BNP Paribas engagiert sich seit rund zehn Jahren in den Bereichen Social Entrepreneurship und soziale Innovation. Am 6. Mai 2019 fand der offizielle Start von „Act for Impact“ statt, einer Initiative mit dem Ziel, Sozialunternehmern maßgeschneiderte Lösungen anzubieten und die positive Wirkung auf Gesellschaft und Umwelt zu fördern. „Act for Impact“ ist Teil der internationalen Strategie der BNP Paribas Gruppe zur Unterstützung von Sozialunternehmen und wurde in Frankreich bereits 2018 umgesetzt.

from left to right :
Jean-Paul Olinger, Directeur de l’UEL et de l’INDR ; Anne-Sophie Dufresne, Directrice Banque des Entreprises, BGL BNP Paribas ; Maha Keramane, Responsable Entrepreneuriat Social et Microfinance – Europe, BNP Paribas ; Jean-Philippe Wiedenhoff, Responsable Pôle Engagement-Entrepreneuriat Social, Centre d’Affaires Alsace Territoire de Belfort, BNP Paribas ; Geoffroy Bazin Responsable Pays du Groupe BNP Paribas au Luxembourg et Président du Comité exécutif, BGL BNP Paribas ; Nadine Muller, Administratrice déléguée, 6zéro1 SA SIS ; Ilana Devllers, Cofondatrice de Food4All ; Eva Sadoun, Cofondatrice de LITA.co ; Catherine Wurth, Project Leader CSR Accelerator, BGL BNP Paribas ; Frédéric Badeau, Cofondateur de Simplon.co.

Anlässlich der offiziellen Markteinführung kamen luxemburgische und internationale Akteure aus dem Bereich Social Entrepreneurship und soziale Innovation zusammen, um Lösungen zu erörtern, mit denen dieses Ökosystem in Luxemburg gestärkt werden kann.

Wie Frédéric Bardeau, Vorsitzender und Mitgründer von Simplon.co betont, haben Sozialunternehmen spezifische Anforderungen, da sie wirtschaftliche Tragfähigkeit und eine positive Wirkung im Sozial- bzw. Umweltbereich anstreben. Simplon.co unterstützt Schulabbrecher und bietet ihnen eine Ausbildung in Programmiersprache an. Mittlerweile beschäftigt das Unternehmen mehr als 250 Mitarbeiter und dies mit Erfolg, wie die Wahl von Frédéric Bardeau zum Sozialunternehmer des Jahres 2017 in Frankreich belegt.

Nadine Muller, Geschäftsführerin von 6zero1 SA SIS, leitet ein Programm zur vollkommen individuellen Betreuung all jener, die in Luxemburg ein Unternehmen mit sozialer oder gesellschaftlicher Zielsetzung gründen oder weiterentwickeln möchten. Das Ziel von 6zero1 SA SIS ist es, als bevorzugter Vermittler Unternehmen der Sozialwirtschaft und engagierte Finanzpartner in Kontakt zu bringen.

Um auf die spezifischen Anforderungen von Sozialunternehmen einzugehen und ihre Entwicklung zu fördern, setzt „Act for Impact“ auf mehreren Ebenen an: BGL BNP Paribas hat Experten ausgebildet, um sie mit den täglichen Herausforderungen von Sozialunternehmen vertraut zu machen, und hat ein maßgeschneidertes Angebot im Finanz- und Nichtfinanzbereich entwickelt. Durch diese Initiative erhalten Sozialunternehmen in jeder Entwicklungsphase konkrete Unterstützung, sei es bei der Suche nach der passenden Finanzierung oder bei der Betreuung ihrer Projekte. Auf diese Weise möchte BGL BNP Paribas die Bewegung des Social Entrepreneurship unterstützen und die in diesem Bereich tätigen Unternehmer und Partner unter einem gemeinsamen Dach zusammenbringen.

Geoffroy Bazin, Country Head der BNP Paribas Gruppe in Luxemburg und Vorsitzender des Executive Committee von BGL BNP Paribas betont, dass „der Sektor der Sozial- und Solidarwirtschaft auf Wachstumskurs ist und in Luxemburg die Zusammenarbeit aller Akteure des Ökosystems erfordert. Mit „Act for Impact“ möchten wir die Bewegung des Social Entrepreneurship und der sozialen Innovation vorantreiben.“

Die Bank für eine Welt im Wandel zu sein bedeutet, sich am Aufbau einer nachhaltigen Zukunft zu beteiligen und die Unternehmen, die dazu beitragen, zu unterstützen.

Geoffroy Bazin, Country Manager of the BNP Paribas Group in Luxembourg and Chairman of the Executive Committee of BGL BNP Paribas, stresses that “the social and solidarity economy sector is growing and requires, in Luxembourg, the cooperation of all stakeholders in the ecosystem. Our aim with ‘Act for Impact’ is to accelerate the social entrepreneurship and social innovation movement.”

Being the bank for a changing world means participating in building a sustainable future and supporting the companies that contribute to it.

  • Assets under management1 at EUR 25.3 billion at end of 2018 (up 13.8%)
  • 2018 Gross written premiums[1] of EUR 2.8 billion
  • Net profit before tax[2] EUR 48.7 million (down 7.9%)

 

In the year ended 31 December 2018, Cardif Lux Vie recorded a very good performance with a turnover1 of EUR 2.8 billion. The Company’s assets under management1 totalled EUR 25.3 billion and its net profit before tax2 stood at EUR 48.7 million. Against a backdrop of economic and financial instability, Cardif Lux Vie maintained a brisk pace of organic growth, with its Unit-Linked inflows holding up and a strong rise in net inflows. The Company has firmed up its position as a major player in the Luxembourg life insurance market, enjoying a record year in the local market.

Other highlights of the year included the acquisition of ABN AMRO Life S.A., which has since been renamed Cardif Life, BNP Paribas Cardif’s acquisition of Ageas’ shareholding, and the roll-out of a new policy management system – a core pillar of the Company’s digital transformation.

 

Wealth Management: higher net inflows

Cardif Lux Vie has built on the strength of its international positioning and now offers wealth engineering solutions for the residents of seven European countries (France, Italy, Belgium, United Kingdom, Spain, Portugal and Luxembourg) and 11 countries outside the European Economic Area.

The Wealth Management business recorded revenue1 of EUR 2.6 billion and net inflows1 of EUR 1.3 billion. Inflows were balanced both geographically across its international partners and in terms of the mix between the General Fund and Unit-Linked Accounts, with the latter accounting for 64% of inflows.

Assets under management1 rose 14.6% in the Wealth Management business to EUR 23.7 billion.

 

Local market: record year with EUR 185.8 million in inflows

Cardif Lux Vie enjoyed a record year in the local Luxembourg market, again demonstrating its leadership in bancassurance. Total gross written premiums totalled to EUR 185.8 million, up 10% compared with 2017.

Its unique savings offering – the Cardif Lux Vie General Fund – and strong demand from resident individual clients for conservative capital protection solutions underpinned first-class performance in Savings, with inflows reaching EUR 157 million in 2018.

Cardif Lux Vie’s Life Insurance inflows were stable at EUR 28.6 million. The country’s economic and demographic growth and a strong mortgage lending performance by the BGL BNP Paribas network (Cardif Lux Vie’s leading partner) were the key factors behind the Company’s healthy results in creditor insurance. The highly competitive Employee Benefits market had a small adverse impact on the uptrend of recent years in this business.

Jacques Faveyrol, CEO of Cardif Lux Vie

“It was a very good year for Cardif Lux Vie in 2018 in terms of inflows, and it now has over EUR 25 billion in assets under management[1].

In parallel, its expansion continued with the acquisition of ABN AMRO Life SA. That deal has solidified our position as a major player in Luxembourg, and we are committed to participating actively and responsibly in the consolidation underway in the international life insurance market.

As a fully engaged insurer, we take steps to make sure our initiatives, solutions and investments have the greatest possible positive impact. We apply the principles of Socially Responsible Investing in the management of our General Fund, including ESG (environmental, social and governance) filters and exclusion policies. We are also actively working to put our solutions within reach of the largest possible number of people. More broadly speaking, our strategy aims to achieve responsible and sustainable growth,” commented Jacques Faveyrol, CEO of Cardif Lux Vie.

Key figures at 31 Dec. 2018
Number of employees3 330
Revenue3 EUR 2.8 billion
Assets under management3 EUR 25.3 billion
Net income before tax[2] EUR 48.7 million

[1] First-time consolidation of Cardif Life, a wholly-owned subsidiary of Cardif Lux Vie

[2] Net income before tax, according to Luxembourg local GAAP, equivalent to pre-tax income of EUR 31.5 million under group IFRS.

Presentation of two cheques for a total value of € 10,000

Two cheques were recently presented to the arcus’ child reception centres (Kannerhaiser) and the Centre Formida at the BGL BNP Paribas head office. In replacement for end-of-year gifts, the Corporate Banking and Asset & Liability Management (Treasury) departments decided to support arcus with a shared donation. In the presence of representatives from both departments, two cheques for a total value of €10,000 were presented to the heads of the organisation.

arcus’ “Kannerhaiser” look after and support children and young adults in difficult family circumstances, who are at risk and need to be separated from their parents temporarily. The children and young adults are welcomed in a safe, respectful environment. Socio-educational group work focuses on promoting health and schooling, establishing family and social ties, living independently, drawing up a structured daily schedule, and providing support after traumatic events.

In the “Centre Formida” – a place of discovery, learning and participation – children and young adults are introduced to the world of craft and creativity. They learn to work with various materials through art, aesthetics and experimentation within the context of a circular economy. Teenagers develop their own life plan, hone their social skills, and are directly involved in handling work at the centre. The Centre also welcomes young people with no direction in life, keeping them busy and motivating them to undertake creative projects together with younger children.

This initiative shows once again how BGL BNP Paribas is making good on its commitment to be a responsible bank and illustrates its active participation in social and civic life.

About arcus asbl

arcus is a non-profit organisation derived from Christian charities that for more than 60 years have had a shared goal of social, educational and therapeutic work with children, teenagers and families. The founding organisations’ values and traditions underlie the philosophy of taking action, and guide the design and development of activities and services. These founding organisations are “Aide Familiale”, “Clara Fey”, “Fir ons Kanner”, “Françoise Dufaing” and “KMA Victor Elz”. From the outset in 2008, support and protection have been central to all services, reflected in childcare facilities, mobile socio-educational family-help services, child placement services, foster homes for children and young people, and educational work with children’s homes and the Quai 57 service, which provides advice and assistance for drug addicts and their families. Improving the quality of their services, adapting to the needs and expectations of target groups, and innovating in socio-educational work form the daily tasks of individuals working for arcus. Its training and development centre encourage the professionalisation of services and support workers’ individual qualities and skills.

  • 2018: Another year of strong growth for Arval: +8.2%
  • Overview of new commercial offers launched in 2018
  • 2019 growth opportunities underpinned by digital, data and people
  • Arval Luxembourg grows by 17% with more than 7,000 vehicles leased

Strong organic growth in 2018

Arval full service car leasing solutions are delivered in 29 countries by around 7,000 employees.

Last year, Arval leased fleet grew by 8.2% overall, reaching 1,193,910 vehicles. The number of vehicles ordered increased by 9% year-on-year, totaling 353,302 vehicles. The number of end-of contract vehicles sold was flat versus 2017, totaling 254,207.

The four key geographies of Arval posted excellent growth figures: France +5%, UK +5%, Spain +19% and Italy +8%. Double-digit growth was booked in many other areas such as in the Benelux (+12%), Southern Europe (+16%), Central Europe (+14%) and the Nordics (+25%).

Last year, Arval grew across all corporate client segments, with +4% in the Corporate & Public segments and +17% in small and medium enterprises. The international clients of Arval stood for an organic growth of more than 7% and now represent more than 25% of the overall business. In 2018, Arval successfully rolled out its offers for private individuals in Europe, the private lease fleet having increased by +45% between 2017 and 2018. In the Netherlands, Arval has launched an online car store for private customers where they can select the car that best suits their needs and lease it through an all-inclusive, hassle-free service package. The goal is to introduce this new qualitative customer experience across several other European countries in 2019.

Overview of Arval’s new commercial offers launched in 2018

Highly committed to being an innovator in the industry, Arval launched several new offers in 2018:

  • SMaRT“: Arval has developed an innovative approach called SMaRT – Sustainable Mobility and Responsibility Targets. In the wake of a clear acceleration towards greener mobility across many European countries, this 5-phase proposition is used to help clients define and implement their fleet energy transition strategy. The SMaRT methodology is designed to satisfy the changing needs of clients in building their energy transition strategies and help the fleet managers throughout their execution and follow up. This approach is part of Arval’s promise to deliver objective added value expertise to its clients at a time when making fleets greener is key.
  • “Arval’s Electric Vehicle Offer“: Thanks to its strategic partnerships with several OEMs (Original Equipment Manufacturer), energy providers and charging infrastructure & services suppliers, Arval’s Electric Vehicle offer covers the whole Electric Vehicle (EV) ecosystem, including home and workplace charging point installation, integrated payment solutions (with automatic home charging reimbursement) and Electric Vehicle digital services (consumption tracking and charging point location). Attractively priced, it allows trial periods and additional services, including a petrol/diesel vehicle replacement option for short periods such as holidays. It is now available in 12 countries including France, the UK, Belgium, Norway, the Netherlands and Germany and is being rolled out in several EV mature markets.
  • Arval For Me“: through this digital solution, Arval extends its offer to private individuals giving them access to its know-how, added value services and networks. The Arval For Me offer gives its members full access to a unique range of services including maintenance and repair (bodywork, tyres, windscreens, etc.), as well as directly linked mobility services (relief car, door-to-door pick-up, towing). This platform is currently available in Italy and Spain with about 12,000 members.

2019 growth opportunities

Arval’s strategy for the coming years is all about further growth, fostered by more innovations and digital applications fit to offer a broader range of mobility services to its clients and prospects. Arval has recently launched its new Employee Value Proposition to underpin the importance of empowered people driving this strategy and delivering outstanding service and industry expertise to its customers and drivers.

The My Arval platform allows customers and drivers to interact and get personalized and proactive information and services whenever and wherever they need it.

Based on its solid experience in full service leasing and thanks to the richness of the data Arval collects in this domain throughout the lifecycle of its vehicles, Arval benefits from huge opportunities to improve its customers and drivers experience, as well as add value in terms of solid advice. Better and fully exploiting these data will enable Arval and its partners to stay ahead of the game and offer clients and prospects the best possible advice, services and innovations, including in the area of green and alternative mobility.

On the Human Resources side, Arval just implemented its employer promise, “A place for people in action”, committing itself to giving employees the resources they need in order to bring forward new ideas, deliver performance and grow.

Alain Van Groenendael, Arval CEO, concludes: “As our unique spectrum of high-value services meets the positive market trends, we are confident that we will achieve significant growth in 2019. Our teams are engaged in all countries and segments and achieving a 9% growth for the year ahead seems within our reach. Our integrated offer, strong assets, and the course set on data and digital will enable us to meet our clients’ mobility challenges, including our responsibility to fight climate change”.

2018, a year of strong growth for Arval Luxembourg

In 2018, Arval Luxembourg confirmed its position as a major player on the operational leasing market in Luxembourg. The company recorded a steady increase of +17% in its fleet in 2018, bringing the number of leased vehicles to more than 7,000. This increase, which is more than four times the Luxembourg market trend for operational leasing, confirms the growth started several years ago and remains on track for future targets.

Arval Luxembourg confirmed its “Best Workplace Luxembourg 2018” certification awarded by the “Great Place to Work” Institute in recognition of the high-quality working conditions it offers its employees. This award, which is testimony to the well-being of Arval’s employees, is the result of the excellent dialogue between management and employees.

The offer of leases ranging from 1 to 24 months, Arval Mid Term Rental, launched more than 2 years ago on the Luxembourg market, confirms its success with close on 25% growth in the number of bookings. This solution meets the flexibility needs of businesses in Luxembourg to cope with activity peaks, seasonal activity or different phases of recruitment (e.g. trial periods, fixed-term contracts).

In January 2018, Arval Luxembourg joined forces with BGL BNP Paribas to launch Private Lease, a long-term vehicle leasing offer for private individuals living in Luxembourg via BGL BNP Paribas’ branch network. “Thanks to Private Lease, individual customers can now benefit from the financial advantages and convenience of operational leasing, which were previously only enjoyed by our professional clientele”, emphasises Gerry Wagner, Managing Director of Arval Luxembourg.

He concludes: “The 2018 results consolidate the strategic path we’ve been following for several years now: closeness, service quality and innovation. We shall continue along this path in 2019 by consolidating the service quality of our Luxembourg-based team and our mobility expertise. For the future, our main concern is and shall remain the extremely high levels of satisfaction we get from our customers.

 

 

Cardif Lux Vie, a major player in life insurance in Luxembourg, is announcing the appointment of François Lucchini as a member of its Executive Committee as Director of Asset Management.

François Lucchini

The appointment reflects the importance and strategic role of asset management at Cardif Lux Vie. In 2017 the company had a total €22.2 billion in assets under management, including €8.1 billion in its General Fund (Fonds Général).

Civil Engineer of ESTP and graduate of the Advanced Master (Mastère Spécialisé®) in Financial Techniques from ESSEC, François Lucchini began his career in 2002 at Nato Vie.

In 2005 he joined BNP Paribas Cardif, where he worked in a broad range of asset classes (equity, fixed income, private equity and structured products), developing his generalist skills as part of the management of general funds and collective pension savings. He also brought his expertise to M&A projects and ALM studies.

With this background, he joined Cardif Lux Vie in 2012 as Head of Asset Management, tasked with implementing the company’s proprietary asset management platform. He works with a diverse team of asset managers with proficiency across all asset classes.

BNP Paribas Securities Services today announced that it has appointed Robert van Kerkhoff as Head of Luxembourg, the Netherlands and the Nordics.

Robert van Kerkhoff

Robert van Kerkhoff, who currently heads BNP Paribas Securities Services in the Netherlands and the Nordics, added Luxembourg to his existing mandate, effective 1 March 2019, thus assuming responsibility for driving growth across these three markets.

Alessandro Gioffreda, Head of Continental Europe at BNP Paribas Securities Services, said: “Robert has a deep knowledge of the fund services industry across a number of European countries and will play a key role in developing our offering in Luxembourg, the Netherlands, and the Nordics.”

BNP Paribas Securities Services is a leading custodian and fund administrator in Luxembourg and the Netherlands and has been growing its presence in the Nordics in recent years.

As Head of location, Robert van Kerkhoff is based in Luxembourg and will continue to report to Alessandro Gioffreda.

Frédéric Perard, previously Head of BNP Paribas Securities Services Luxembourg, has been appointed Global Head of Investment and Fund Services Operations.