Crédit Agricole enters the Japanese life insurance market

Crédit Agricole S.A. received approval on 8 June 2007 from Japan's Financial Services Agency (FSA) for the setting up of Crédit Agricole Life Insurance Company Japan Ltd.

A wholly owned subsidiary of Crédit Agricole S.A., this Tokyo-based life insurer will be capitalised initially at 2 billion yen (12.5 million euros). From autumn 2007, it will target the country's fast-growing bancassurance market, with special emphasis on unit-linked retirement savings (variable annuities). It will distribute its products through the networks of Japanese partner banks...