Groupama
 | |
| Company type | Mutual organization |
|---|---|
| Industry | Insurance, Financial services |
| Founded | 1986 |
| Headquarters | Paris, France |
| Revenue | $ 15B |
454,000,000 Euro (2022)  | |
Number of employees | 31,600 (2020) |
| Subsidiaries | Groupama and Gan |
| Website | www.groupama.com |
Groupama an abbreviation for Groupe des Assurances Mutuelles Agricoles (English: Group of Mutual Agricultural Insurances) is a French insurance group headquartered in Paris with operations in 10 countries.[1]
It is listed in the 2007 ICA Global 300 list of mutuals and co-operatives, ranked 6th by 2005 turnover, making it the 2nd largest mutual insurer in the world.[2]
History[edit]
The predecessor of Groupama was founded in the 19th century by a group of farmers to address their own specific insurance needs. It was set up as a mutual organisation and focused on agricultural as well as individuals, professionals, local authorities and businesses.
History:
- December 22, 1840 establishment of the first local agricultural mutual fire Insurer by farmers in Mions (Rhône)
- 1900 A new law is passed on July 4 that sets the specific legal framework for Agricultural Mutual Insurance Funds.
- Establishment of a central fund for the agricultural reinsurance "Fire" (1906) and "Livestock" (1908)
- 1963 Creation of Samda for risk protection of non-agricultural damage.
- 1972 Creation of SORAVIE (Society of Agricultural Organizations Life Insurance), in partnership with Crédit Agricole
- 1975 Creation of SOS-AMA (generalized assistance)
- 1986 AMA Samda, SORAVIE, SOREMA are merged under the new name Groupama
- 1992 Creating B.CERP bank, which took the name of Groupama Financial Bank
- 1998 Groupama acquires GAN the 4th largest French insurer at that time making Groupama the second largest French general insurer
- 1999 The acquired GAN business hit by large claims from exceptional storms and floods at the end of 1999
- 2001 Groupama expand its banking services continues to expand its insurance business in France and other countries through acquisitions
- 2009 Acquired Banque Finama which is merged with Groupama bank
- 2011 The company get into financial In difficulties and sells a number of subsidiaries in 2011 early 2012 to stay afloat. On 5 October 2012, Groupama announced that it exercises its option not to pay interest on a portion of its debt by the deadline of October 22. According to the group, it is not a default, but a part of the outstanding action plan initiated in early 2012.
Subsidiaries[edit]
Groupama is present in 10 countries, mainly in Europe (France, Croatia, Italy, Hungary, Romania, Greece, Bulgaria, Slovakia), in Tunisia and in China.
See also[edit]
- List of investors in Bernard L. Madoff Securities
- Groupama Arena, a stadium in Budapest, Hungary that bears the company's name via a sponsorship deal
- Parc Olympique Lyonnais, a stadium near Lyon, France also known as Groupama Stadium through a sponsorship deal with this company
References[edit]
- ^ "International presence in 10 countries". Groupama Group.
- ^ http://www.global300.coop Archived 2008-09-14 at the Wayback Machine
