Groupama CEO dismisses commercial rate rise talk as hot air
The chief executive of Groupama has criticised the market for talking up commercial rates rises but doing nothing about it. François-Xavier Boisseau's comments came as Groupama Insurances reported a UK post tax profit of £15.0m to the end of Q2 2008 (2007: £15.1 m) on revenue of £224.7m (2007: £214.9m).
Commenting on commercial the business added market competition for SME business "remains fierce with inadequate rating levels continuing – especially for new business where the market is still not
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