Groupama UK sees half-year profits soar by 20%

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However, Groupama Insurance saw revenues drop by 4.7% for the first six months this year to £200.7m (H1 2011: £210.6m).

And revenues for the insurer's broking arm, GUK Broking Services, remained largely flat for the first six months this year, recording a 1.5% rise to £33.2m (H1 2011: £32.7m).

Groupama's combined ratio edged down by 0.4% to stand at 98.8% (H1 2011: 99.2%). Meanwhile, its solvency ratio recorded a 25% leap from 174% to 218%.

Groupama UK's chief executive Francois-Xavier Boisseau

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