Groupama Reports Robust Annual Growth in 2024 Results

Groupama, a French insurer, reported its 2024 annual results showing a net income of €961 million, an increase of €451 million from the previous year. Economic operating income also rose by €52 million, reflecting growth across property and casualty (P&C) and health and protection insurance segments. The company achieved a combined premium income of €18.5 billion, marking an 8.9% increase from 2023.

The growth breakdown indicated a 5.2% rise in P&C insurance income to €9.24 billion, while health and protection insurance showed exceptional growth of 14.8%. Notably, international revenue also witnessed substantial growth rooted in performance from Hungary and Romania. The non-life combined ratio improved to 95.1%, aided by a decrease in natural disaster claims, showcasing the company’s resilience amid economic challenges.

Chairman Laurent Poupart and CEO Thierry Martel attributed the robust results to the company’s mutual model and strategic investments, reflecting a commitment to sustainable growth and future development endeavors. The results not only demonstrated financial strength but also positioned Groupama favorably in the competitive insurance landscape, both in France and internationally.