Groupama’s 2020 Half-Year Results

2 September 2020


  • Premium income of €9.3 billion

-In an unprecedented health crisis, the Group’s premium income was impacted by the effects of the lockdown on its business and by cancellations and reductions of premiums granted to support the economy

-Mixed performance with an increase in property and casualty insurance and a decrease in life and health insurance

-A portfolio of loyal customers

  • Resilient economic operating income at €196 million

-Stable economic operating income from insurance of €220 million

-A non-life combined ratio of 97.9%, stable compared with 30 June 2019

-An overall neutral impact of the pandemic on the loss experience thanks to offsets between the business lines: during the lockdown, a significant decrease in the frequency of motor and health claims and an increase in claims for business interruption, work stoppages, credit guarantee, travel and event cancellation insurances

  • Net income of €139 million

-Sales of Groupama’s stake in La Banque Postale Assurances Iard

-Contribution to the solidarity fund to support VSEs and the self-employed workers.

  • Solvency ratio with transitional measure of 252%

-A solvency ratio of 152% without transitional measure

-IFRS equity of €10.1 billion

Jean-Yves Dagès-2

In the first half of the year, during the unusual health crisis we went through, Groupama relied on its mutual insurance model and values to meet the needs of its members and customers as fully as possible. I'm very proud of our employees and elected representatives. They worked tirelessly to help our customers and take part in citizen solidarity initiatives in the territories. Thanks to our resilience, we'll continue to support them and anticipate their expectations in the period ahead of us

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

COVID-19 had tremendous impact on the financial statements for the first half of 2020. Its full effects will need to be assessed over the entire year. However, business in the first half was steady before the lockdown, and the post-lockdown recovery has been dynamic. During the lockdown, Groupama's employees rallied to support our customers and members in the difficulties they had to face.
This first-half result also includes a high weather loss experience at the beginning of the year as well as capital gain from the friendly divestment of our stake in La Banque Postale Assurances IARD

Thierry Martel
CEO of Groupama Assurances Mutuelles
Groupama_HY2020 Results_Infographie