Groupama reports return to form with profit leap

Francois-Xavier Boisseau

Total revenues for the insurer were up 4.6% to £470.9m (2009: £450.3m) while profits soared by 70% to £23.7m (2009: £14.1m). However, this level of profitability is still some way short of the £30m profits that the insurer enjoyed in 2008.

The rise in profits was attributed to the performance of the commercial lines division although Groupama stated that personal lines showed signs of improvement.

Combined revenues in the group’s broking businesses, GUK Broking Services, were down marginally at

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