Caci, the creditor insurance subsidiary of Crédit Agricole Assurances, announced today that it is to invest €3.2m in setting up an R&D centre of excellence in Dublin.
The new centre, which has the support of IDA Ireland, will initially focus on enhancing the group’s risk management and modelling capabilities.
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, Crédit Agricole Assurances; Henri Le Bihan, CEO of Caci; and 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 has 300 employees operating across Europe. Caci has had an office in Ireland for the last 12 years and currently has more than 80 employees in Dublin.
According to the company, the Irish operation has specialist capability within the group that has resulted in the R&D win for the Dublin subsidiary.
“This R&D centre confirms our wish to enhance our development and will contribute to our continued success,” said Le Bihan. “The Dublin operation has developed very specialised and highly skilled functions which make it the perfect fit for this R&D investment.”
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."
Article courtesy of Businessandleadership.com