Caci established R&D Center in Dublin
Caci, the creditor insurance subsidiary of Crédit Agricole Assurances, has announced plans to invest €3.2 million in the establishment of an R&D Centre of Excellence in Dublin with an initial focus on enhancing the Group’s risk management and modelling capabilities, with the support of IDA Ireland.
The announcement was made today from an IDA Ireland financial services event in the Irish Embassy in Paris which was attended by Paul Kavanagh, Irish Ambassador in France; John Bruton, President of IFSC Ireland; Kieran Donoghue, Head of International Financial Services, IDA; Jerome Grivet, CEO Credit Agricole Assurances; Henri Le Bihan, CEO of Caci; Jean Pierre Paumier, Caci Ireland Chief Executive.
Caci is a specialist company within Crédit Agricole Assurances which provides Payment Protection Insurance (PPI) and related products. Based in France, Caci holds activities throughout Europe with its 300 employees. In 2009, Caci celebrated 10 years in Ireland and currently has over 80 employees in Dublin. The Irish operation has specialist capability within the group which has resulted in the R&D win for the Dublin subsidiary.
Mr. Henri Le Bihan, CEO of Caci said “This R&D centre confirms our wish to enhance our development and will contribute to our continued success. The Dublin operation has developed very specialised and highly skilled functions which make it the perfect fit for this R&D investment.”
Mr. Barry O’Leary, CEO of IDA Ireland, congratulated Caci on this strategic investment by the company. “Irish operations of international financial services companies need to constantly develop their strategic importance within their parent company and Caci is a fine demonstration of this.
This R&D investment is the first from a European Bank in Ireland and builds on the growing cluster of international insurance operations undertaking strategic R&D activities from Ireland,” said Mr. O’Leary.
Caci Ireland has evolved into a specialist and substantial operation in Dublin and carries out a variety of skilled activities including underwriting, pricing, reserving & solvency, claims adjudication and Third Party Administration monitoring, accounting and financial control.
Notes to editor
Caci, subsidiary to Crédit Agricole Assurances group specialises in payment protection insurance and sells and administers policies in 14 European Countries from its headquarters in Dublin under the Freedom of Services directive. In addition the Irish operation has recently opened two branches in France and in Italy which will enable it to grow the business substantially on a Freedom of Establishment basis.