Groupama: 2022 results

Groupama has ended the year 2022 with a 4.3% increase in its turnover which reached 15.9 billion EUR (17 billion USD). This progression is mainly attributable to a strong growth of 8.6% in non-life premiums, driven by the international subsidiaries, especially in Romania.

The French mutual's net profit has dropped by 7.9% over a year to 454 million EUR (484.6 million USD).

As at 31 December 2022, the operating result amounted to 349 million EUR (372.6 million USD), falling by 27% compared to the same period in 2021. The non-life combined ratio declined by 1.6 points to stand at 99.4%.

The group's results were impacted by the increase in the natural catastrophe claims experience in France, the high inflation and the rise in bond rates.