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Annual Report 2013

Groupama Group


At the national level, Groupama is structured around three entities: the Groupama National Federation, an association to which all the regional mutuals belong; Groupama Holding, which holds investments in the regional mutuals of Groupama S.A.; and Groupama S.A., which manages the French and international subsidiaries. The Group's governance is based on an electoral system and the sharing of responsibilities.

Diagram presenting the governance of Groupama Group The members Groupama S.A. Subsidiaries The regional and local mutuals Groupama National Federation

Groupama's governance is based on four organisational principles:

The membership

The four million members are the foundation on which the mutual is built and on which it functions. They can be involved at each level of the electoral system, embodying the principles of proximity, solidarity and responsibility.

An electoral system

At all levels (local mutual, departmental federation, regional mutual, Groupama National Federation), an electoral system operates, founded on the principle "one man, one voice".

A decentralised structure

Since the beginning, this decentralised structure has been founded on the local mutuals, the source of expression of the mutual life.

Internal reinsurance

Unique in the French market, the system of internal reinsurance between the different levels (local and regional, regional and national) is the financial backbone of the Group. Groupama S.A. reinsures the entire Group with specialist external companies.

The members

Policyholders are members of the local mutuals. They elect representatives at the local and regional levels. These representatives are involved in Group decisions at the national level.

The regional and local mutuals

Nine metropolitan regional mutuals, two overseas regional mutuals and two specialised regional mutuals (fully functioning mutual insurance companies), and the 3,400 local mutuals attached to them, form the foundation of the regional organisation of the mutual insurance system.

Groupama National Federation

The Groupama National Federation, an association that groups together all the regional mutuals, defines and controls the Group's major decisions and strategies. It also ensures the implementation of mutual insurance policy principles.

Groupama S.A.

Groupama S.A. manages the operational activities of the Group and reinsures the regional mutuals and subsidiaries.


The French subsidiaries are focused on the insurance, financial and specialised business activities. The international subsidiaries develop life and non-life insurance products in 11 countries outside France.