Groupama: 2024 results

Groupama closed the 2024 financial year with a record net result of 961 million EUR (1 billion USD), compared with 510 million EUR (562.9 million USD) a year earlier. This marks an 88.4% increase in net profit, despite the major weather-related losses in 2023 and the sale of Groupama's Turkish operations.

The operating result rose by 52% to 954 million EUR (993.6 million USD). As for the non-life combined ratio, it showed an improvement of 1.7 points to 95.1%.

This performance was largely attributable to the lower cost of natural catastrophe losses, which stood at 637 million EUR (663.4 million USD) in 2024, against 968 million EUR (1.1 billion USD) in 2023.

The French mutual's turnover reached 18.5 billion EUR (19.3 billion USD), which represents an 8.9% growth over the same period in 2023.

At end-December 2024, the Group's shareholders' equity amounted to 10.5 billion EUR (10.9 billion USD).