France, Crédit Agricole confirms its ambitions

Crédit Agricole is intent on becoming the leader of the French insurance market as shown in its “Ambtion Stratégique 2010” (“Strategic 2020 Ambition”) development plan.

According to the figures published by the Argus de l’Assurance, the bank insurer , endowed with 25.3 billion EUR (27.6 billion USD) in premiums, is ahead of its competitors. It is therefore in the leading position followed by Caisse Nationale de Prévoyance (CNP) and AXA in the third place.

In life insurance, Crédit Agricole is expecting a 10% growth of its overall revenues from 2015 to 2019. Unit-linked policies will be privileged, mobilizing less shareholders’ equity and playing out as attractive performances on the long-term basis.  Group pension products should be attracting the group’s salesmen.

In non-life insurance, Crédit Agricole has also exhibited its ambitions as it expects a 1.5 point increase of its market share in the home and motor classes of business where it is currently holding fourth and seventh raking.