IPO will raise funds for acquisitions, says CEO

Groupama will complete an initial public offering (IPO) in 2011 or 2012, raising funds for large-scale acquisitions, Wall Street Journal reports.

"In the two years to come I think it will be effective," chief executive Jean Azema told Dow Jones yesterday.

He added the IPO wouldn't happen this year.

The French insurer could make an acquisition before listing on the stock market, Azema said.

However, a "transformative" acquisition, which would mean buying a company with annual sales of around €4bn to €5bn, wouldn't be possible without the IPO, he said.

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The 2025 Insurance Times Awards took place on the evening of Wednesday 3rd December in the iconic Great Room of London’s Grosvenor House.

Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
Many congratulations to all the worthy winners and as always, huge thanks to our sponsors for their support and our judges for their expertise.

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