Insurance Day
GMF posts E358m profit as life outshines non-life
Fabien Buliard, Paris
FRENCH mutual insurer Garantie Mutuelle des Fonctionnaires (GMF) has reported a 6% fall in 2006 net profit to E358m ($483m)
after the 2005 result was boosted by an exceptional gain. A E85m exceptional gain in 2005 resulted from the divestment of
the company’s stake in Spanish subsidiary Gecina.