Groupama has recorded a 2.1% decline in turnover in H1 2020, which has gone from 9.5 billion EUR (10.79 billion USD) as at 30 June 2019 to 9.3 billion EUR (10.45 billion USD) a year later. This decline was mainly caused by the downturn in activity following Covid-19.
As at 30 June 2020, the net result stood at 139 million EUR (156.33 million USD), a 31.1% increase compared to 106 million EUR (120.48 million USD) a year earlier.
During lockdown, the motor and health loss experiences dropped significantly. In contrast, an increase in damage was recorded in the business interruption, work stoppage, credit and suretyship, travel insurance and event cancellation insurance classes of business.
At 152%, the solvency ratio fell by 26 points compared to 31 December 2019. Such a decline is mainly due to the poor conditions of financial markets and lower interest rates. The non-life combined ratio remained unchanged at 97.9%.
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