Groupama Insurance's pre-tax profits fell 20% between 2008 and 2007, although its insurance revenues...
Groupama Insurance's pre-tax profits fell 20% between 2008 and 2007, although its insurance revenues increased by 6%. The provider said that it had experienced its sixth year of profitability but conceded that its pre-tax profits had fallen from £23.1m for 2007 to £18.5m for 2008. Francois-Xavier Boisseau, chief executive officer of Groupama Insurances, said that the company had put in a very solid performance against an "absolutely extraordinary" economic environment and "very challenging" market conditions.
