BPF and PSA launch an insurance pole in Argentina

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In line with its mission as a Mobility Service Provider linked to the PUSH TO PASS plan of the PSA Group, BPF is launching a new dynamic in Argentina by creating a dedicated division consisting of a new Peugeot Citroën Argentina Compania Insurance Company of Seguros SA - in the form of JV, 70% owned by BPF and 30% owned by BNP Paribas - and a PCA Asesores of Seguros Sa broker (98% Peugeot Citroen Argentina).

The mission of this business unit (BU) will be to support the development and expansion of mobility service offerings for operational entities in the country.

The Insurance business in Argentina started its activities on January the first, under the responsibility of Mauricio Boguslavski.

Edouard de Lamarzelle, Head of Insurance and Services at Banque PSA Finance, said at the launch :

« Insurance and Services are key components of the mobility offering, in particular by giving the customer comfort and peace of mind. This allows the brands and BPF to further engage in the promise of customer satisfaction by offering a competitive solution package in the event of unforeseen circumstances. BU Assurances supports the entities of the PSA Group (Brands, BPFAR and CISA) to realize this promise and thus strengthen its role as a trust partner of the client ».

Pascal Nouschi, head of BPF in Argentina, said:

« Argentina is a mature country in terms of sales of services : we are starting this BU with large volumes ; the portfolio is now consistent with 145,000 Life Insurance clients within the Insurance Company and 88,000 Auto Insurance within the PSA Broker ; our 2017 production target will be 62,000 life insurance contracts and 51,000 auto police contracts. It is also planned to launch new products excluding life and auto insurance. Expanding the range of services is at the heart of the BPF strategy : Argentina will expand its range of short and medium-term mobility services by relying on this new business unit ».