Groupama chief hits out at pricing
Announcing his firm's 2007 results, new Groupama Insurances chief executive Francois Xavier-Boisseau...
Announcing his firm's 2007 results, new Groupama Insurances chief executive Francois Xavier-Boisseau said the commercial motor market was the "unspoken shame of the industry". Profits fell from £33.8m in 2006 to £23.1m in 2007 as a result of flood and storm losses. Meanwhile, Royal & SunAlliance, which is set to rebrand in April to RSA, had an underwriting result in the UK of £65m on the back of £2.688bn of net premiums. The UK combined operating ratio was 97.6% (a drop of 4.6 points due to the
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