Groupama shows a successful performance for the first quarter of 2019. While the market grew by 24.2 percent in terms of non-life agency premiums over the same period of previous year, Groupama Sigorta managed to exceed the market average with a growth of 33.6 percent.

Opening the year 2019 with the strategy of sustainable and profitable growth, Groupama has rapidly begun to see the positive results of this strategy on its balance sheet results. The company’s agreement with the Agricultural Credit Cooperative ended in 2018; yet they managed to grow considerably, especially in the agency channel, during the first three months of 2019. While the market grew by 24.2 percent in terms of non-life agency premiums over the same period of previous year, Groupama Sigorta reached its target of exceeding the market average with a growth of 33.6 percent.

46.4 percent growth in motor casco

Despite the decline in new car sales, Groupama’s motor casco premiums increased by 46.4 percent thanks to new business partnerships. The market growth in this branch stands at 16 percent. At the end of March 2019, number of motor casco policies issued by the insurance market decreased by 7.5 percent compared to the same period of 2018; while Groupama has increased the number of its policies in this line by 15.5 percent.

Philipppe-Henri Burlisson, General Manager of Groupama who stated that Groupama Sigorta and Groupama Hayat generated a total net profit of 50.5 million TL, added as follows: “Our successful results for the first quarter of 2019 have created an exciting start for this year, which we announced as a year of transformation. Excluding the Agricultural Credit Cooperative premiums, we have managed to increase our overall premium production over the market averages. I completely believe that we will catch the uplifting positive results of this strategy which we initiated under the motto ‘We will achieve all together.’ Therefore, I would like to congratulate all my colleagues and our agencies.”