Groupama reports stagnant broking revenues

Abstract

Combined revenues of Groupama Insurances' UK broking businesses have remained relatively flat at L33.3 million during H1 2010. The insurer described the performance of its GUK Broking Services subsidiary, which includes Carole Nash Insurance Consultants, the Bollington Group, Lark Insurance, Mastercover and Choice Quote Insurance Services, as "robust" given the "weak economic environment in the UK". Total revenue from underwriting activities at Groupama Insurances increased 5.2% to L237.7 million while profits in Groupama Insurances' combined UK operations increased 30% to L13.7 million before tax and amortisation.