BPCE - 2019 Universal Registration Document

FINANCIAL REPORT

IFRS CONSOLIDATED FINANCIAL STATEMENTS OF GROUPE BPCE AS AT DECEMBER 31, 2019

Fiscal year 2019

Fiscal year 2018

in millions of euros

Premiums written

15,291

14,617

Change in unearned premiums

(214)

(158)

Earned premiums

15,077

14,459

Revenues and other income from insurance businesses

187

284

Income from investments Expenses on investments

2,005 (282)

1,787 (100)

Gains or losses on disposals of investments less reversals of impairment and amortization Change in fair value of investments recognized at fair value through profit or loss

225

83

1,931

(1,103)

Change in impairment for investments

(77)

(95) 572

Income from investments net of expenses

3,803

Amortization of acquisition costs Claims and benefits expenses Income from reinsurance cessions Expenses on reinsurance cessions

(3)

24

(15,684)

(12,217)

3,531

3,205

(3,605)

(3,233)

Net income or expenses on reinsurance cessions NET INCOME FROM INSURANCE BUSINESSES

(74)

(28)

3,306

3,094

TRANSITION BETWEEN THE PRESENTATION APPLICABLE TO INSURANCE COMPANIES AND TO BANKS 9.2.2 The statement shown below provides a transition between the financial statements of insurance companies included in the scope of consolidation and their translation into the financial statements of Groupe BPCE in accordance with the presentation applicable to banks.

2019 Banking Format

Net banking income

Other items of net

5

banking income

(excluding net income from insurance businesses)

Net income from insurance businesses (1)

Gross operating income Other items

2019 Insurance Format

2018 Insurance Format

Operating expenses

in millions of euros

Earned premiums

15,020

42

15,062

(112)

14,950

14,333

Revenues or income from other activities

171

8

179

(9)

170

218

Other operating income

58 11

11

69

9

78

47

Net financial income before finance costs TOTAL REVENUE FROM ORDINARY ACTIVITIES

3,803

(17)

3,797

125

3,922

589

18,994 (15,650)

119

(6)

19,107 (15,919)

13 87 (2)

19,120 (15,832)

15,187 (12,148)

Claims and benefits expenses Expenses from other activities

(142)

(127)

(13)

(13) (50)

(15) (60)

(13) (33)

Net income from reinsurance cessions

(74)

24

(10) (30)

Policy acquisition costs Administrative expenses

(2)

(805) (520)

(225) (383) (312)

(1,032)

(1,062)

(999) (830) (366)

(903) (375)

(903) (372)

Other recurring operating income and expenses TOTAL OTHER RECURRING INCOME AND EXPENSES

(63)

3

(15,726)

(1,506) (1,387)

(1,061) (1,066)

(18,293)

48 61

(18,245)

(14,389)

OPERATING INCOME

3,268

815

876

798

Net income from insurance businesses does not include income from the Prêt Viager Hypothécaire, a reverse mortgage for seniors offered by Crédit Foncier. (1)

305

UNIVERSAL REGISTRATION DOCUMENT 2019 | GROUPE BPCE