2016 Half-Year Results : Operating income of €92 million

Stable premium income of €9.2 billion

• Targeted development, particularly with very strong development of the unit-linked individual savings/pensions business (24% in France)
• Strong growth in group health insurance, driven by ANI, a market sector in which Groupama is France’s number 1 player with 55,000 policies

Economic operating income of €92 million

• Technical and operating performance impacted by a difficult environment due to the persistence of low rates and the higher weather-related loss experience
• A combined non-life ratio of 99.9%
• Active transformation of the life insurance portfolio with a share of unit-linked in individual savings reserves of 21.8%

Net income of €69 million

• Reduced realised capital gains
• An unfavourable effect of lower interest rates

Solvency 2 ratio of 239%

• Shareholders’ equity rose by +4.6% to €8.6 billion