Groupe des Assurances du Crédit Mutuel Reports Strong 2024 Results

Groupe des Assurances du Crédit Mutuel (GACM) experienced significant growth in 2024. Gross written premiums rose by 11.3% to €15.2 billion due to increased savings, retirement, property, casualty, and protection insurance portfolios. Net profit escalated by 19.9% to €996 million.

The insurer saw notable growth in its contract portfolio, reaching 38 million, a 2.6% increase from 2023. Savings and retirement insurance experienced unprecedented inflows of €8.6 billion, a 16.3% rise. Net inflows climbed to a record €2.7 billion, primarily fueled by euro funds.

Property and casualty premiums increased by 5.4% to €6.6 billion, led by insurance growth and adjusted tariffs. The result was a near-balance combined ratio of 100.2%. Investment actions improved the financial standing, boosting the financial result to €408 million, up by €117 million.