2017 Results: Significant increase in operating income at €349 million

16 March 2018


  • Premium income of €13.8 billion, up 2.9%

– Growth in property and casualty insurance as well as life and health insurance

– Continued growth in France (+2.6%) and return to strong organic growth in foreign markets (+4.1%)

  • Economic operating income of €349 million, up €156 million

– An improvement in the non-life combined ratio of 98.9%, despite a high weather-related loss experience

– Active transformation of the life insurance portfolio with a share of unit-linked outstandings in individual savings of 25.8%

– Improvement in economic operating income in France and internationally

  • Net income of €292 million

– Net income affected by exceptional charges of €187 million due to regulatory changes in France (tax surcharges and statutory enhancements)

– Strong increase in the international subsidiaries’ contribution to net income (+35%)

  • Solvency ratio of 315%, up +26 points since 31 December 2016

– Solvency ratio of 174% without transitional measure on technical reserves

– Shareholders’ equity of €8.9 billion

– Mutual certificates outstandings of €436 million at 31 December 2017, including €246 million collected in 2017

Jean-Yves DAGES

Groupama had a satisfactory 2017 in terms of both development and profitability. As the company continues its internal work to remutualise its governing body, which is planned for the end of the first half of 2018, Groupama has continuously shown its capacity to develop and support innovative and transformational projects that serve all its members and customers, particularly alongside farmers.

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

The Group saw profitable growth momentum in its property and casualty insurance as well as in its life and health insurance, and recorded a major increase in its operating income as well as its solvency. It is therefore with a solid foundation that Groupama SA will soon become Groupama Assurances Mutuelles, the Group's new national mutual.

Thierry Martel
Chief Executive Officer of Groupama SA.
Groupama FY Results 2017 - Infographics