Groupama UK sees half-year profits soar by 20%
Groupama UK has seen its half-year profits before tax jump by 20% to £22.2m compared to the same period last year.
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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