Caser and Allianz are awarded the BdE employee loan insurance


Caser and Allianz contracts have been awarded for 702,598 euros that the Bank of Spain had tendered three insurance policies group life insurance for personal loans that the supervisor himself grants to his employees, both social and for the purchase of homes and repayable advances. The amount for which the insurers have been awarded this tender, made up of three lots, is below the base tender amount of 860,000 euros (VAT not included). Each batch has a duration of two years, with no possibility of extension.

In the award notice, Bank of Spain has indicated that the two insurance companies have been chosen for presenting the most advantageous offers. caser insurance has been awarded for housing loans for a total of 606,312.09 euros (with taxes), and for social loans for 74,767.58 euros. For its part, Allianz has been awarded the refundable advance policies for 21,518.82 euros. The objective of these policies is to cover the risks of death and total permanent disability of employees who have loans granted by the supervisor.

AXA, which opted for the three policies, and Grupo HNA, which had only submitted bids for housing and social loan insurance, also bid.

The documents that accompanied the tender specified that the premiums will be paid by the insured and will have a monthly payment frequency for life insurance associated with housing and social loans, while the payment will be annual in the case of refundable advances. For all the contingencies of the policy, the first beneficiary will be the Bank of Spain, which would receive the amount pending amortization in the loan -plus the accrued interest in the case of housing and social loans- at the time of death or the disability of the insured.

In the event of excess insured capital, the beneficiary would be either someone designated by the insured, or the insured himself in the event of disability, or relatives in the event of death. Two other companies have also bid for this contract: AXA, which opted for all three policies, and Grupo HNA (Mutualidad de Arquitectos y Químicos), which had only submitted bids for home and social loan guarantor insurance.


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