Groupama’s UK businesses up for sale
by Gill Montia
Story link: Groupama’s UK businesses up for sale
Groupama says it has reluctantly taken the decision to begin the process of divesting its entire UK operations and is now seeking a new owner for its various UK-based interests.
The decision follows a strategic review of the French insurer’s core insurance assets as part of ongoing plans to boost its capital base.
Spontaneous expressions of interest have already been received for some of the more profitable parts of the business, including Groupama Insurances and the broking subsidiaries within GUK Broking Services.
The group’s UK executive team is now working closely with colleagues in France to prepare for a sale.
Groupama chief executive officer, François-Xavier Boisseau, comments: “This sale should allow the UK Group to find new owners who support, understand and shares our vision for the future and is able to offer the necessary commitment, security and resources to turn our plans into reality.”