Groupama published its latest financials on Friday last week and the news is god. Premium income is up 7.5% and net income is up an impressive 178% year-on-year. The big increase in revenues was in the Life business, (up 10%) with property & casualty showing 4% growth. There were modest increases in motor and home of around 1% or just under.
“In 2021, Groupama posted strong growth in all its business lines, in France and internationally, and our results, both operating and net, were high, exceeding their pre-health crisis level. We have also continued to strengthen the Group’s solvency and have demonstrated our financial flexibility, successfully issuing our first green bonds.”, stated Thierry Martel, CEO of Groupama Assurances Mutuelles.
“The year 2021 once again demonstrated the strength of Groupama’s mutualism model, with very satisfactory annual results in a fluctuating environment. This year will also be remembered for the work carried out in conjunction with the French government, which has given a new dimension to agricultural weather insurance in France. The Group naturally remains mobilized and vigilant with regard to the situation in Ukraine and its global macroeconomic consequences.” added Jean-Yves Dagès, Chairman of the Board of Directors of Groupama Assurances Mutuelles.
Groupama also noted that growth in products like unit-linked savings was strong, especially in markets like Hungary. Healthcare plans showed strong growth in Greece and Romania too.