BPCE - 2019 Universal Registration Document

5

FINANCIAL REPORT

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

Fiscal year 2019

Fiscal year 2018

in millions of euros

Premiums written

14,481

13,800

Change in unearned premiums

(213)

(176)

Earned premiums

14,268

13,624

Revenues and other income from insurance businesses

186

267

Income from investments Expenses on investments

1,832 (281)

1,622 (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

214

105

1,833

(1,013)

Change in impairment for investments

(77)

(95) 518

Income from investments net of expenses

3,521

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

(3)

24

(14,769)

(11,471)

3,496

3,205

(3,566)

(3,233)

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

(71)

(28)

3,132

2,934

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 BPCE SA group in accordance with the presentation applicable to banks.

2019 Banking Format

Net banking income

Other items of net

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

14,211

43

14,254

(69)

14,185

13,468

Revenues or income from other activities

170

9

179

(9)

170

219

Other operating income

58 24

11

69

9

78

47

Net financial income before finance costs TOTAL REVENUE FROM ORDINARY ACTIVITIES

3,521

(14)

3,531

79

3,610

535

17,902 (14,734)

134 (64)

(3)

18,033 (14,922)

11 53 (2)

18,044 (14,869)

14,269 (11,379)

Claims and benefits expenses Expenses from other activities

(124)

(13)

(13) (48)

(15) (58)

(13) (30)

Net income from reinsurance cessions

(71)

23

(10)

Policy acquisition costs Administrative expenses

(3)

(808) (491)

(221) (378) (306)

(1,032)

(1,032)

(968) (799) (360)

(869) (370)

(869) (367)

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

(64)

3

(14,808)

(1,404) (1,270)

(1,042) (1,045)

(17,254)

45 56

(17,209)

(13,549)

OPERATING INCOME

3,094

779

835

720

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

450

UNIVERSAL REGISTRATION DOCUMENT 2019 | GROUPE BPCE

www.groupebpce.com