French mutual MAIF reports turnover of €3.15bn
In 2010, in a context difficult economic the group recorded French mutual MAIF has seen strong development in life insurance (+21.9%) and consolidated its position in business casualty.
The group reported turnover of €3.15bn, growth of 6.6%, with positive indicators in all its branches and consolidated net profit of €18.7m, up 259%.
This increase was brought more than 70% by the life activity. The total assets managed by the group amounted to €12.45bn and capital is located just above €1.62bn euros, which allows the group MAIF, with a adjusted capital ratio (including unrealized gains and recall assessment) of 301%, largely to meet regulatory solvency requirements.
The firm said the key lessons from the past year were that all industries are increasing; expense claims are contained despite effects of the storm Xynthia; and overheads are progressing more slowly the turnover.
The year 2010 will also marked by the strong commitment the group's e-insurance positioning itself the mobility market, with the launch of maif.mobi and application Iphone.
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