French insurance giant, Groupama has announced its UK insurance operation is officially up for sale....
French insurance giant, Groupama has announced its UK insurance operation is officially up for sale. The company, one of the tenth largest general insurers in the UK, has been put on the market as its parent looks to concentrate on its international business.
No buyer has yet been announced, although Royal & SunAlliance is rumoured to be interested. A spokesman for the company said it will be 'business as usual' until a new parent is found.
Groupama offers a wide range of both personal and commercial insurances. In March, it announced it was to expand its portfolio of PMI and accident and health cover, worth £45m per year to the company, and rebrand the division Groupama Healthcare.
The new division is headed up by Tim Osbourne, who is in charge of 40 specialist personnel based in Tonbridge, Kent. Groupama acquired the PMI business of Iron Trades in July 2000.
