Groupama, an abbreviation for Groupe des Assurances Mutuelles Agricoles (), is a
French insurance group headquartered
Headquarters (often referred to as HQ) notes the location where most or all of the important functions of an organization are coordinated. The term is used in a wide variety of situations, including private sector corporations, non-profits, mil ...
in
Paris
Paris () is the Capital city, capital and List of communes in France with over 20,000 inhabitants, largest city of France. With an estimated population of 2,048,472 residents in January 2025 in an area of more than , Paris is the List of ci ...
with operations in 10 countries.
It is listed in the 2007
ICA Global 300 list of
mutuals and
cooperatives
A cooperative (also known as co-operative, coöperative, co-op, or coop) is "an autonomous association of persons united voluntarily to meet their common economic, social and cultural needs and aspirations through a jointly owned and democr ...
, ranked 6th by 2005
turnover, making it the 2nd largest
mutual insurer
A mutual insurance company is an insurance company owned entirely by its policyholders. It is a form of consumers' co-operative. Any profits earned by a mutual insurance company are either retained within the company or rebated to policyholders ...
in the world.
History
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.
Groupama was established on December 22, 1840, when farmers in
Mions
Mions () is a commune in the Metropolis of Lyon in Auvergne-Rhône-Alpes region in eastern France. The residents of the city are called ''Miolands'' and ''Miolandes''.
Population
See also
*Communes of the Metropolis of Lyon
The following is ...
(Rhône) founded the first local agricultural mutual fire insurer. The legal framework for Agricultural Mutual Insurance Funds was defined by a law passed on July 4, 1900. A central fund for agricultural reinsurance was created for "Fire" in 1906 and for "Livestock" in 1908.
In 1963, Samda was established to provide risk protection for non-agricultural damage. In 1972, SORAVIE (Society of Agricultural Organizations Life Insurance) was created in partnership with
Crédit Agricole
Crédit Agricole Group (), sometimes called La banque verte (, , due to its historical ties to farming), is a French international banking group and the world's largest cooperative financial institution. It is the second largest bank in France, ...
, followed by the introduction of SOS-AMA, a generalized assistance service, in 1975. In 1986, AMA, Samda, SORAVIE, and SOREMA merged under the name Groupama.
In 1992 B.CERP
bank
A bank is a financial institution that accepts Deposit account, deposits from the public and creates a demand deposit while simultaneously making loans. Lending activities can be directly performed by the bank or indirectly through capital m ...
, which took the name of Groupama Financial Bank was ctreated. In 1998 Groupama acquired
Gan
The word Gan or the initials GAN may refer to:
Places
* Gan, a component of Hebrew placenames literally meaning "garden"
China
* Gan River (Jiangxi)
* Gan River (Inner Mongolia),
* Gan County, in Jiangxi province
* Gansu, abbreviated '' ...
, the 4th largest French insurer at that time making Groupama the second largest French general insurer. At the end of 1999 acquired Gan business was hit by large claims from exceptional storms and floods. By 2001 Groupama expanded its banking services and continued to expand its insurance business in France and other countries through acquisitions.
In 2009 it acquired Banque Finama which merged with Groupama bank.
In 2011, the company experienced financial difficulties and sold several subsidiaries in 2011 and early 2012. On October 5, 2012, it announced that it would not pay interest on a portion of its debt by the October 22 deadline, describing the decision as part of an ongoing financial recovery plan initiated earlier that year.
In June 2018, Groupama SA, the central body of the Groupama group, was transformed into a national mutual reinsurance fund under the name Groupama Assurances Mutuelles.
On 14 January 2021, Groupama announced the acquisition of Juritravail, a company specialized in remote legal content and advice services.
In June 2023, François Schmitt, former president of Groupama Grand Est, succeeded Jean-Yves Dagès as head of the group.
Subsidiaries
Groupama is present in 10 countries, mainly in Europe (France, Croatia, Italy, Hungary, Romania, Greece, Bulgaria, Slovakia), in Tunisia and in China.
See also
*
List of investors in Bernard L. Madoff Securities
*
Groupama Arena
Groupama, an abbreviation for Groupe des Assurances Mutuelles Agricoles (), is a French insurance group headquartered in Paris with operations in 10 countries.
It is listed in the 2007 ICA Global 300 list of mutuals and cooperatives, rank ...
, a stadium in Budapest, Hungary that bears the company's name via a sponsorship deal
*
Parc Olympique Lyonnais
Parc Olympique Lyonnais, known for sponsorship reasons as Groupama Stadium, is a 59,186-seat stadium in Décines-Charpieu, in the Metropolis of Lyon. The home of French football club Olympique Lyonnais (OL), it replaced their previous stadium, ...
, a stadium near Lyon, France also known as Groupama Stadium through a sponsorship deal with this company
References
External links
*
{{Authority control
Financial services companies established in 1986
French companies established in 1986
Companies based in Paris
Insurance companies of France
Privatized companies of France
French brands