GROUPAMA posted 1H significant increase in net income, at EUR 286 million
At the same time, the economic operating income was up by 39% to EUR 154 million, while the non-life combined ratio was 99.7%, "despite high weather related losses", as the French insurer said in a press release.
"The group's operating income is up despite very unfavorable weather related losses, even greater than in the first half of 2016. The group's mutual insurance dynamic and the power of its fundamentals contribute considerably to these strong results." stated Jean-Yves Dagcs, Chairman of the Board of Directors of Groupama SA.
Per business lines, the property-casualty segment generated premium income of EUR 5.2 billion (+2% y-o-y), while the life and health insurance segment totaled EUR 3.9 billion (+0.9% y-o-y).
In terms of premiums, the French insurance market generated about 85% of total (EUR 7.8 billion, up by 1.4% y-o-y), while the international market generated premiums of about EUR 1.4 billion, 2.5% more y-o-y.
Read the announcement released by Groupama.