Groupama's UK broking arm posts £34m loss for 2012
The broking arm of Groupama UK has reported a loss of £34m for 2012, compared with a £5.7m profit the previous year.
GUK Broking Services’ direct operations made a profit of £4.2m in 2012, compared with £5.7m reported in 2011. All other segments of the business reported a loss.
GUK attributed the loss in large part to the sale of Lark Group, which took place in August 2012, when the broker completed an MBO.
In documents filed at Companies House, GUK stated that following this deal it repaid in full all loans made by Groupama SA.
Disposal loss
However, it also revealed that the disposal of Lark gave rise to a
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