The French insurer Groupama announced on Thursday a net profit almost doubled over one year in the first half, to 447 million euros, inflated by a lower cost of natural disasters.
This result is much higher than the 232 million euros released in 2022 for the same period, then marked by severe climatic episodes in France which were costly for insurers.
It is even comparable to Groupama’s profit for the whole of 2022, of 454 million euros.
Turnover stood at 11.1 billion euros over the first half of the year, up 5.3% compared to the same period last year.
The insurance group headed by Thierry Martel highlights in a press release the strong growth in activity in property and liability insurance (+9.6%), driven by the good performance of international subsidiaries, particularly in Hungary, in Italy and Romania.
The insurer also reports an increase in turnover in health protection (+8.3%) but a decrease in activity in retirement savings (-13.7%), in a qualified market. of little weight.
Life insurance is particularly subject to competition from Livret A, whose remuneration rate, currently 3%, has increased significantly over the past year and a half.
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Groupama boasts 12 million members and customers as well as 31,000 employees around the world.