2009 a pivotal year as IFAs look beyond resilience, seeking strategies to put crisis behind them
Cardif has released the results of its third Barometer, based on a survey of Independent Financial Advisors (IFAs). The survey was done in France between May 28 and June 18, 2009 by TNS Sofres, the French leader in market research and opinion surveys. The Barometer covers a representative sample group of 500 IFAs.
“2009 is seen as a pivotal year. IFAs have weathered the crisis and proved resilient despite the sharp downturn in markets at the end of 2008 and the beginning of 2009. The majority of them feel that the worst is behind them. For the past year they have strengthened relationships with existing clients, who appreciate the personal attention and custom-tailored advice they have received. The crisis revealed their strengths, but also certain weaknesses. IFAs have become very much aware that they need to be proactive in order to put the crisis behind them,” said Roger Mainguy, Director of the Cardif France Networks and Partnerships, commenting on the results of the survey.
Cardif, insurance unit of BNP Paribas Assurance, develops and markets savings and protection solutions which are distributed via diverse channels. It has received an AA rating from Standard & Poor’s. With operations in 41 countries, Cardif enjoys strong positions in Europe, Asia and Latin America. Cardif’s roster of partners now includes more than 35 of the world’s top 100 banks.
BNP Paribas Assurance is the life and property & casualty insurance arm of BNP Paribas. It counts 8,000 employees, 70% of them outside France.
BNP Paribas Assurance is actively committed to exemplary Corporate Social Responsibility. It has adopted a Socially Responsible Investment program, encourages diversity throughout the enterprise (earning the “Equality at Work” label in France ) and supports local economic development in the markets where it operates. BNP Paribas Assurance is equally committed to environmental responsibility, targeting a 10-percent reduction in the company’s carbon emissions by 2010. BNP Paribas Assurance had gross written premiums of €16.1 billion in 2008. It generated 42% of its 2008 gross written premiums outside the BNP Paribas group and 37% of gross written premiums outside France. BNP Paribas Assurance is the world leader in creditor insurance and the fourth-largest life insurance company in France.