Insurer to shrink motor book

Groupama plans to shrink its general motor book by one quarter over the next three years, in favour of specialist motor risks.

François-Xavier Boisseau, Groupama Insurance’s chief executive, told Insurance Times this week that the company wanted to branch out from its traditional “Mondeo man” customer.

He said: “This market is absolutely slaughtered by the aggregators and everyone else is piling in. We don’t have the skill in the long run to compete efficiently in this market so we have to change our underwriting footprint on personal lines.

“If there is one big challenge for us, it is to make this change.”

Boisseau said the strategy would be driven by pricing changes rather than the launch of new products.

He added that the insurer’s commercial strategy would not change. He confirmed that it is supplying capacity to Giles’ MGA, Ink.