In Hungary it has limited casesensitive 2

Groupama expects that the tide is turning in Central and Eastern Europe (CEECs). If there is very severe economic crisis, the French insurer always founded big hopes on an area where there is this recently. By 2016, it is a volume of premiums for 1 billion euros, or almost double the turnover year last by its four subsidiaries (Hungary, Romania, Bulgaria and Slovakia). In 2009, the Group had to gnaw its brake with a decrease of 6, to EUR 535 million.

In Hungary, it has limited case-sensitive (2.2, to EUR 310 million), taking advantage to become the third country insurer, Allianz and Generali, but before Aegon. Resistance to the fruits of the exclusive agreement of bancassurance life insurance with OTP Bank, the first settlement of the country. "The Hungarian market remains profitable," welcomes especially Yann Ménétrier, Groupama Garancia Biztosito Director-General, who made 24 million of net income in 2009 and whose activity is shared 50 - 50 between the non-life and life insurance.

This is not the case of the Romanian subsidiary, loss of 10 million euros last year. After merged three companies purchased between 2007 and 2008, the insurer must now adjust their operations. "We aim to balance in 2011 and we should find a significant benefit in 2012." "The Romania, it is a potential in the medium term", promises Denis Rousset, the Director General of Groupama Asigurri. Last year, the activity is folded by 10.9 to 210 million. While she directed 72 of its turnover in auto insurance, this subsidiary wants to double its positions in life and develop comprehensive housing. Number Romania, Groupama 3 has a still anecdotal role in Bulgaria (premiums last year EUR 7 million) and Slovakia (7.6 million).

Hoping to win a 5 market share in the area, the insurer considers a competitive advantage in the distribution. Following these various acquisitions, it indeed inherited from networks of agents without equal, if not Legion (2,200 officers in Hungary, 6,000 active agents in Romania). The time is now to the professionalization and rationalization of these networks.

Carte blanche

The mutual group made the bancassurance another cornerstone of its strategy, which brings today 31 of its turnover. The most emblematic partnership, one signed in 2008 with OTP Bank for a period of twenty years, he opens access to 9 countries in which operates the Hungarian Bank. In Romania, where OTP is a minor actor, Groupama can count on three other Bank partners (CEC Bank, Banca Transilvania and BRD, the subsidiary of Société Générale). "For the moment, we focus on these four settlements, knowing that we have carte blanche to work in 5 other countries area", says Erik Nagy, Director of the activities of Groupama in the CEECs. Arrival in Ukraine is not the order of the day, provides. The insurer is no more land in Serbia, Croatia or Montenegro, markets deemed "too small". A country on the other hand is the subject of all its attentions: "There is a high probability that the group go to Russia." "We have not yet decided how we will do, from scratch or by buying a local actor", slide Jean-François Lemoux, Director General International, without giving any timetable.