Core Insights - Groupama Assurances Mutuelles reported a premium income of €12.9 billion for the first half of 2025, reflecting a growth of +7.1% compared to the same period in 2024 [1][2] - The net income for the same period reached €450 million, marking an increase of +13% year-on-year [1][14] - The company maintains a strong solvency ratio of 211% without transitional measures, and 263% with transitional measures [1][16] Premium Income Breakdown - The combined premium income as of June 30, 2025, was €12.9 billion, with contributions from various segments: - Property and casualty insurance: €6.9 billion, up +6.4% - Health & protection insurance: €4.0 billion, up +7.3% - Savings & pensions: €1.9 billion, up +9.1% [2][3][20] - In France, premium income totaled €11.0 billion, an increase of +6.2% from the previous year [3][20] Segment Performance - Property and casualty insurance generated €5.6 billion, up +5.8%, with notable growth in home insurance (+6.8%) and business insurance (+11.1%) [4][20] - Health and protection insurance grew to €3.7 billion, driven by health insurance growth of +7.3% and group inward reinsurance growth of +24.7% [4] - Savings and pensions increased by +5.9% to €1.6 billion, particularly in euro-denominated products which saw a growth of +16.8% [5][20] International Growth - International business reached €1.7 billion, up +12.9%, with significant growth in Hungary (+30.9%) and Romania (+11.1%) [7][20] - Property and casualty insurance in international markets totaled €1.2 billion, up +9.4%, with motor insurance growth of +7.4% [8][20] - Health and protection insurance increased by +11.7% to €221 million, benefiting from group health segment growth of +19.1% in Romania [9][20] Financial Performance - Economic operating income was €503 million, up +23% compared to the previous year [6][11] - The combined ratio improved to 94.1%, a decrease of -1.8 points, attributed to fewer major claims and favorable prior-year run-off [12][20] - The company's equity reached €11.0 billion, an increase from €10.5 billion at the end of 2024 [15][22] Solvency and Ratings - The Solvency 2 ratio without transitional measures was 211%, reflecting a 26-point increase from the end of 2024 [16][22] - Fitch Ratings confirmed Groupama's financial strength rating at "A+" with a stable outlook [17][22]