Groupama chairman toasts "vintage performance"

Groupama chairman and ceo Pierre Lefevre toasted a "vintage performance" for the insurer in the wake of its 2006 results. Total revenues increased significantly to £412.5m - up 20% on last year - and, on a like-for-like basis, income increased by 8.5% on the back of a strong performance in both commercial and home insurance. Net profit rose to just over £55m as a result of an exceptional tax credit of £21.3m, but the combined ratio remained static at 98.8%. Commercial revenues were up almost