Premium income (insurance premiums and other income) of €17.0 billion, up +6.9%
Strong growth in property and casualty insurance (+10.7%), driven by the solid performance of international subsidiaries
Increase in premium income in health and protection insurance (+7.9%)
Decrease in the savings/pensions business (-4.4%)
Net income of €510 million
Economic operating income of €627 million, despite an elevated climate-related claims charge (€1.3 billion before reinsurance)
Combined non-life ratio of 96.8% Solvency ratio of 197% without transitional measure
Solvency ratio of 197% without transitional measure
Solvency ratio of 267% without transitional measure on technical reserves
Group’s IFRS equity of €9.9 billion, up +€1.1 billion
Contractual services margin of €3.6 billion
“Groupama’s results for 2023 show its great resilience. I would like to salute the unwavering commitment of our elected representatives to those of our policyholders who suffered major climate events in 2023. This is the strength of our mutualist model. Let’s remind ourselves that 2023 was the year of the full deployment of multi-risk climate insurance, thanks to its public reform, of which we have been one of the major contributors and which bears its fruits, with the very significant increase in insured agricultural areas.” stated François Schmitt, Chairman of the Board of Directors of Groupama Assurances Mutuelles.
“We can be proud of these results, driven by the contribution of all the Group’s components in France and abroad, and by the solvency of our Group, which has remained at an excellent level. Especially as 2023 was once again marked by major climatic events in France in the second half, including the storms Ciaran and Domingos and the floods in the north of the country in a context of lower reinsurance. The insurability of our territories is more relevant than ever and is now the subject of active discussions with public authorities.” added Thierry Martel, CEO of Groupama Assurances Mutuelles. 2 The Board of Directors of Groupama Assurances Mutuelles met on 18 April 2024, under the chairmanship of François Schmitt, and approved the Group’s combined financial statements for fiscal year 2023.
