Groupama boss calls for "sanity" rather than the "vanity of a dash for growth"
Groupama Insurances reported profits of £23.1m for 2007 (2006: £33.8 million). The results were impacted by exceptional storm and flood losses in January, June and July totalling £18.4m (£14.4m net of reinsurance).
Revenues for 2007 were flat at £408.7m (2006: £412.5m).
The insurer said this reflected disciplined underwriting in the personal and commercial lines portfolios, the impact of ongoing consolidation
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