Groupama’s 2020 Annual Results

12 March 2021




  • Premium income of €14.4 billion

-Growth in life and health insurance and stability in property and casualty insurance

-Portfolio of loyal customers

  •  Economic operating income of €306 million

-Insurance economic operating income of €348 million, down €117 million from 2019, impacted by the COVID pandemic

-Combined non-life ratio of 98.7%

  • Net income of €177 million

-Sale of Groupama’s stake in La Banque Postale Assurances IARD

-Contribution to the solidarity fund to support small and medium-sized enterprises and the self-employed

-Goodwill impairment of the Italian subsidiary

  • Solvency ratio with transitional measure of 244%

-A solvency ratio of 152% without transitional measures

-IFRS shareholders’ equity of €10.7 billion

Jean-Yves Dagès-2

Mutualism takes on its full force when times are difficult. In 2020, Groupama supported all of its customers and members who were faced with illness, work stoppages, or economic difficulties. At the same time, Groupama continued to increase the number of its customers and attracted new employees.

Jean-Yves Dagès
Chairman of the Board of Directors of Groupama Assurances Mutuelles
MARTEL Thierry_Directeur Général_1

In a year of exceptional crisis, Groupama lived up to its position as a major mutual insurer by contributing more than 250 million euros to solidarity initiatives for its customers and by making a significant contribution to the various aid and support funds set up by the government. Without having to resort to short-time working and relying on its 70,000 employees and elected representatives, the group has been very present with its customers while showing strong resilience in the current economic environment.

Thierry Martel
CEO of Groupama Assurances Mutuelles