Groupama’s board of directors have decided to divest its entire UK operations and seek a new owner for the Group’s various UK based interests as part of ongoing plans to boost its capital base.
The decision to divest follows after several buyers expressed their interest to purchase profitable parts of its business, including both Groupama Insurances and the broking subsidiaries within GUK Broking Services.
The sale, to be completed in the near future, would be based on the financial strength and security rating of the buyer capable of providing future support and development of the business.
The group, with a conservative investment portfolio, maintains a robust capital base with a solvency margin of 190% and remains unexposed to Euro-debt issues.
Until the completion of the divestment process, Groupama Insurances will continue business as usual.
Groupama is an insurance mutual, banking and financial services company, with a multi-channel distribution to serve its 16 million members and clients.