Groupama chief sacked

old-man-door

According to news agency Reuters, while the insurer's statement only said Mr Azéma had left the group a spokeswoman later confirmed he had been dismissed.

He will be replaced by former managing director of the insurance and banking divisions, Thierry Martel.

The insurer added that with deputy chief executive, Christian Collin, the new team would focus on implementing measures "that will reinforce the solvency of the group while, at the same time, continue to improve its operational profitability

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