Groupama continues to diversify its weather coverage in France with an Aggregate Catastrophe bond
Groupama is the first European insurance group to sponsor a cat bond in 2023. Groupama has secured EUR 100 million of aggregate reinsurance protection for weather related claims experience in France.
The Aon Securities team* structured and placed a cat bond on an indemnity basis, via the Randolph Re platform on behalf of Groupama, which protects against adverse deviation of climatic losses in France. The cover incepted 15 June 2023.
« For Groupama, the relationship with our reinsurers remains essential. With this Cat bond transaction, we are demonstrating on the one hand our ability to adapt to major changes in the reinsurance market and, on the other hand,we are further protecting Groupama from adverse weather claims. » stated Thierry Martel, Chief Executive Officer of Groupama.
* Reference to the Aon Securities team means Aon Solutions Ireland Limited, who are regulated by the Central Bank of Ireland (and its affiliated entities)
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