2011 Annual Results

Thierry Martel, CEO Groupama SA, stated that: “Our 2011 results can be characterised by huge capital losses on our assets in an adverse market environment yet operational results which are extremely encouraging and positive. We have decided to adopt a new strategy centred on ‘Business Line Performance’ in markets where we are already strong while at the same time reduce our financial risk exposures. We continue to reaffirm to our 16 million policyholders and clients as well as to our 39 000 employees that they are at the heart of our mutualist model which remains modern, vibrant and innovative.”Commenting 2011, Christian Collin, Deputy CEO Groupama SA, declared: “Certainly our 2011 results have been strongly affected by our exceptional losses in our financial investments especially our exposure to Greek debt and the financial markets slump and the impact on our equity investments. Nevertheless we have demonstrated that our business model remains solid. Commercial success has ensured higher market share and our life insurance business -Groupama Gan Vie, finished the year with net positive inflows and a strong movement toward unit linked savings products. On top of this we have a much improved combined ratio of 97.4%.”