BNP Paribas Japan News & Press
April 12, 2017 - ,


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Cardif Assurance Vie and Cardif-Assurances Risques Divers in Japan (hereafter: Cardif Japan) announced today that BNP Paribas Cardif has agreed a strategic alliance with Sumitomo Mitsui Trust Bank (hereafter: SMTB), a member of the fourth largest banking group in Japan.

Since its establishment in 2000, Cardif Japan has expanded its business by providing mortgage protection through 60 financial institutions across Japan. Cardif was first in the Japanese market to offer credit payment protection with cancer rider.

Cardif Japan and SMTB have established a strong relationship. In 2006 Cardif Japan started to offer mortgage creditor protection insurance to SMTB, and has worked closely to develop new value-added products and services attached to SMTB’s financial solutions such as wrap accounts and NISAs (Nippon (Japan) Individual Savings Account).

This alliance is a new step in the strong partnership between Cardif Japan and SMTB. Through this alliance, Cardif Japan and SMTB will launch new customer-centric products and will develop bancassurance business in Japan by utilising SMTB’s advanced financial services and Cardif’s product development expertise.

This strategic alliance will enable the:

  1. Development of simple and easy-to-understand protection products that enable customers to select the best solutions for their needs throughout their life cycles.
  2. Development of a new distribution model with first-class financial services, while leveraging the capabilities of SMTB’s networks.

In order for both Cardif Japan and SMTB to successfully implement the alliance and sustainably develop the distribution model, SMTB will acquire 20% of the shares of the newly established Japanese life insurance subsidiary of BNP Paribas Cardif.

  • As announced today, Cardif Assurance Vie and Cardif-Assurances Risques Divers in Japan will change their company structures to Japanese subsidiaries by the end of 2018 subject to the approval of the Financial Services Agency.

<Company Structure after Transaction>


12 April 2017                             Share Purchase Agreement
Second half of 2018                 Completion of share transfer (scheduled)