Groupama rating
Groupama Insurance was put on review with negative implications by ratings agency Standard & Poor's (S&P).
This was triggered by its French parent announcing an end ...
Groupama ratingGroupama Insurance was put on review with negative implications by ratings agency Standard & Poor's (S&P). This was triggered by its French parent announcing an end to guarantees which had been a "key support for Groupama Insurance", said S&P. Business written after 12 February would not be covered by the guarantees.But a £135m capital injection leaves the UK operation expected by S&P to have covered its regulatory solvency margin by 2.37 times in 2003.
Griffiths profitGriffiths & Armour's Lloyd's broker division reported a doubling of its operating profits in the year to 31 August 2003.They increased by 102% to £679,000 from £335,000 the year before.
