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

30 August 2016


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

The resilience of our operating income reflects our group's strength, given the extremely unfavourable financial environment and highly exceptional weather-related loss experience. The strength of our regional mutual organisation has once again demonstrated its tangible efficiency, by immediately providing lodgings alternatives for people obliged to abandon their homes in flooded areas.

Jean-Yves Dagès
Chairman of the Board of Directors of Groupama SA.
Thierry MARTEL - 2016

Unlike in 2015, no exceptional financial gains were recorded during the first half of 2016, which was marked by a highly unfavourable context in both technical and financial terms, including exceptional events such as flooding and Brexit. However, the Group's operating income and solvency resisted well thanks to the groundwork accomplished by the Group's employees to provide protection for the 'everyday lives' of our members and customers.

Thierry Martel
Chief Executive Officer of Groupama SA.