Groupama has confirmed its strategy to increase growth in Europe with an objective of a premium income of €20bn through organic growth by 2012.
Groupama’s strong advantages and the linchpins of its future expansion
- A group that is global in scope thanks to an increase in acquisitions made between 2006 and 2008: 15th European insurer with 16 million customers in 14 countries
- 38,500 employees
- A presence across all business sectors
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Multi-line insurance, banking and services
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- A strong distribution network
- In France: 5 local networks, 3,500 sales outlets; Internationally: 3,700 branches; and dynamic growth in the direct sales channel (success of Amaguiz in France, Clickseguros in Spain and Clickinsurance in Great Britain)
- Successful growth as a result of a strong push in urban areas with the opening of new branches and the recruitment of more sales representatives and wealth management advisors
- Promising partnerships and bancassurance agreements (Banque Postale, Pro BTP, Cegid, OTP Bank, etc.)
- Solid positions in France and internationally, consolidated in recent years
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Strong awareness of the Group’s brands resulting from major marketing and communications initiatives
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Leadership positions in key business lines: “non-life” (motor and home insurance) and “life and health insurance” (provident and health insurance), and therefore an ability to invest and innovate (Pay as you drive, Groupama Renfort, etc.)
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Dynamic growth in savings inflows – exceeding the market average in France
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Innovative banking solutions for individuals, already resulting in 500,000 new customers
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Good positioning in high growth markets: presence in major European markets and regions where insurance is likely to enjoy strong growth (CEEC, Mediterranean and China)
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A group that combines organic and external growth and improved profitability: trends already identified in 2009* indicate that the objectives set in the previous strategic plan will be achieved
- Premium income: average annual growth of 6.3% since 2005
- Combined ratio: a ratio of between 98% and 102% for the period 2005-2009
- Operating income**: three times that of 2005
The above was achieved in spite of very poor market conditions and the current economic crisis.
Groupama keeps its course – Strategic choices are confirmed:
- Boost growth in France
- Expand internationally
- Improve profitability and operating efficiency
*forecast, excluding impact of storms at the beginning of 2009
**operating income before shareholder capital gains, exceptional transactions and the impact of unrealised gains and losses
“Groupama has made great strides over the last three years, thanks primarily to the commitment of its employees, its operating efficiency and prudent management. Despite an unstable economic environment, Groupama has achieved sustainable and profitable growth through innovation and investment, and recent acquisitions have given the Group a solid presence in Europe, which now accounts for 26% of the Group’s premium income. The trends correctly forecast in the 2007-2009 strategic plan have been gaining momentum.
Our strategy proved viable and we will continue to pursue it through our 2010-2012 strategic plan and external growth, to become one of the European leaders in insurance.”
Jean Azéma, Chief Executive Officer, Groupama
