Groupama has established a clearly articulated strategy to be implemented over the long term: To strengthen its multi-line insurance position in the French market; To become a global presence in insurance and retail banking in France; To expand its international development, particularly in Europe, to become one of the ten top European insurance companies.
The Group will pursue organic growth and seek acquisitions to achieve its goals.
Organic growth. Groupama is making progress in three priority areas: Innovation: Groupama is pursuing its policy of innovation in product offerings and services. In 2005 it introduced crop insurance for farmers, as well as a new way of helping small and medium size businesses with their employee benefits schemes. In addition, a personal services line, "Fourmi Verte", was created with partners. Groupama will continue to develop new product offerings. Competitivity: the Group intends to improve and optimise its management process. Distribution: Groupama has established a client relationship profile which combines various distribution channels and calls for a greater degree of specialisation in the networks, depending on conditions in their markets. Investment in urban areas will also increase.
Groupama will strengthen its risk management in order to assure safe growth. Groupama S.A.'s Board of Directors has established an Audit and Accounts Committee, one of whose principal tasks is to study the coherence of internal audit and risk management procedures. In 2005, each Regional Mutual and subsidiary of Groupama S.A. was given internal audit responsibility. The managements of all Groupama S.A.'s companies are mapping out their own patterns of risks. In addition, a review programme for business contingency plans was inaugurated for the entire Group in 2005.
Groupama has invested in optimising its human resources. It has strengthened its programmes for identifying high potential employees, facilitated enhancement of their skills, and offered them opportunities for additional experience within the Group (professional development).
In 2006, the Group will also work on developing a three year growth plan 2007-2009 for France and International.
Acquisitions
In addition to pursuing organic growth, Groupama intends to perform one or more acquisitions, based on the opportunities available. These operations will be selected on the basis of their fit with our strategy and the maintenance of our profitability.
To strengthen its multi-line insurance position in the French market;
Organic growth. Groupama is making progress in three priority areas:
