03/17/2023 | Press release | Distributed by Public on 03/17/2023 02:09
17 March 2023
- Strong growth in property and casualty insurance (+8.6%), driven by the good performance of international subsidiaries (+20.4%), particularly in Romania
- Growth in life and health insurance (+0.8%) both in France (+0.7%) and abroad (+1.1%)
- Economic operating income of €349 million, down (-27%), in a complex environment with a high loss experience related to weather claims in France, accelerating inflation, and rising bond rates
- Combined non-life ratio of 99.4%
- Increase in the non-recurring financial margin, in particular due to the capital gains realised on the sale of the building at 150 Avenue des Champs-Elysées in Paris
- A solvency ratio of 207% without transitional measure on technical reserves
- Redemption of perpetual subordinated debt for €229 million
- IFRS shareholders' equity of €7.5 billion
The year 2022 has been undoubtedly one of the worst in our history in terms of weather losses. Despite this, Groupama showed strong resilience with very good results and once again reaffirmed its major role in the territories, as well as its position in the agricultural sector, particularly in terms of climate insurance issues and measures
Jean-Yves DagèsThe group posted very solid results despite extremely adverse conditions, both in terms of unprecedented weather-related losses and in economic and financial terms with accelerating inflationary pressures and sharp rise in interest rates. This is the result of a constant strategy of controlled development and careful management of our risks, both financial and technical, over the years.
Thierry Martel