France - May 2008

Banque Postale, the banking arm of the French Post Office was given the green light at the end of April 2008 to extend its range of financial services to casualty insurance (home and automobile insurance). Banque Postale intends to start marketing its first automobile insurance contracts in 2010. Before then, it will have to select a partner, via a call for tenders type procedure, with which it will set up a joint venture, then design and prepare its products. The same procedure has already been launched for consumer credit products that Banque Postale was authorised in November 2007 to offer to its customers. Even if it will take time for Banque Postale to put in place and start marketing its new products, its network of 17 000 points of sale will make it a serious competitor for other insurance and bankassurance companies.

Keywords : bankinsurance, bankinsurance

Accounts : La Banque Postale