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‘Specialist capability’ central to CACI setting up R&D in Dublin Back
CACI, Credit Agricole's creditor insurance subsidiary, has announced plans to invest €3.2 million in the establishment of an R&D Centre of Excellence in Dublin due to the 'specialist capability' developed in the Irish operations. The centre's initial focus will be on enhancing the Group’s risk management and modelling capabilities. The move by Credit Agricole further adds to Ireland's reputation as a centre for financial services R&D and the French bank joins other IFSC operations such as Citi, Merrill Lynch and Aon in setting up R&D operations in Ireland. The investment by Credit Agricole is supported by IDA Ireland.
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At the official launch of Credit Agricole's R&D Centre of Excellence at the Irish Embassy in Paris are (L-R) Jean-Pierre Paumier, managing director, CACI Ireland; Jerome Grivet - CEO of Crédit Agricole Assurances; Ambassador Paul Kavanagh; JohnBruton, Chairman of IFSC Ireland and Henri Le Bihan, CEO of CACI

Patrick Clarke will lead the R&D team which will initially have a team of three including an actuarial modelling analyst and a database analyst. 'Our first concern is Solvency II, and preparing as much as possible for when it comes into force. The benefits of the projects managed by the RDI team will be able to be seen at Caci Life limited, Caci Non-Life limited and Caci Reinsurance Limited, as well as Finaref Vie, Finaref RD and Predica' said Mary Ryan, deputy general manager of the Irish group of CACI companies.

'The R&D Centre is currently developing an in-house actuarial software to meet the quantitative requirements of Solvency II. In parallel, it is working on developing a new partner database and is also mapping out future projects aimed at maximising the efficiency and effectiveness of CACI’s activites', said Jean-Pierre Paumier, CEO of the Irish group of Caci companies adding that there is scope for the R&D team to grow over the coming years.

'Over the last 10 years, CACI Ireland has grown into a substantial and highly specialised business, using its unique knowledge of foreign local regulation and market practices, its competencies in the areas of finance, audit, compliance and claims management and its multi-lingual workforce. The Dublin operation, with its expert and highly skilled functions, was the perfect location to establish this new cross-business venture.'
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