BPCE_REGISTRATION_DOCUMENT_2017
5 FINANCIAL REPORT
IFRS Consolidated Financial Statements of BPCE SA group as at December 31, 2017
6.5
INCOME AND EXPENSES FROM OTHER
income and expensesresultingfrom the Group’s insurancebusiness ● (notably premiumincome, paid benefits and claims, and changes in technical reserves of insurance companies); income and expenses onoperatingleases; ● income and expenses on real estate development activities ● (revenues, purchases used).
ACTIVITIES This itemmainlycomprises:
income and expenses on investment property (rental income and ● expense, gains and losses on disposals, depreciation, amortization and impairment);
Fiscal year 2017
Fiscal year 2016
Income 10,802
Expense (10,928)
Net
Income
Expense
Net
in millions of euros
Incomeand expensesfrom insuranceactivities (1) Incomeand expensesfrom leasingtransactions Incomeand expensesfrom investmentproperty
(126)
20,105
(19,694)
411
285 123
(275)
10
260 111
(257)
3
(48) (82)
75 16
(47) (84)
64
Share of joint ventures
98 12
89
5 3
Transfersof expensesand income Other operatingincome andexpenses
(6)
6
9
(6)
731
(277)
454
751
(191)
560
Additions to/reversals fromprovisions toother operating income and expenses
52
52
(84)
(84)
Otherbankingincome andexpenses
841
(313)
528
849
(365)
484
TOTALINCOMEANDEXPENSES FROMOTHER ACTIVITIES 12,051 962 In 2016,the implementationof the partnershipwith CNP Assurancesconcerningreceivablesarisingfrom reinsurancetransactionslinked to reinsuredcontractswas reflectedby an entryof (1) €11.9 billionrecordedunder“Incomeand expensesfrom insuranceactivities”: incomefrom insurancecompaniesincludedthe effectof the implementationof the reinsurancetreatycovering10%of the savingsdepositoutstandingsheld by CNP; ● expensesincludedthe recognizedallocationsto technicalreserves. ● (11,564) 487 21,325 (20,363)
Income and expenses from insurance activities The statementshownbelowprovidesa transitionbetweenthe financial statements of insurance companies included in the scope of consolidationand their translation into the financial statements of BPCESA group in accordance with t e presentationapplicable tobanks.
The Group’s consolidated companies that present their financial statements based on the insurance company model are Natixis Assurances, Surassur,CEGC and Coface.
Banking format 2017
Net banking income*
Operating expenses
Gross operating income
Other items
Insurance format 2017
Insurance format 2016
in millions of euros Earnedpremiums
13,289
13,289
13,289
21,616
Revenues or income from otheractivities
246
246
246
305
Other operatingincome
28
19
47
47
19
Net financial incomebefore financecosts TOTALREVENUE FROMORDINARY ACTIVITIES
2,625
(12)
2,613
(24)
2,589
1,806
16,188 (13,356)
7
16,195
(24)
16,171 (13,470)
23,746 (21,189)
Claimsand benefits expenses Expensesfrom otheractivities
(114)
(13,470)
(14)
(14) (35)
(4)
(18) (35)
(17) (55)
Net income from reinsurancedisposals
(35)
Policy acquisitioncosts Administrative expenses
(735) (369)
(218) (385) (243)
(953) (754) (318)
1
(952) (755) (320)
(923) (681) (215)
(1) (2)
Other operatingincome andexpenses/recurring TOTALOTHER RECURRING INCOME AND EXPENSES
(75)
(14,570)
(974) (967)
(15,544)
(6)
(15,550)
(23,080)
OPERATING INCOME
1,618
651
(30)
621
666
O/w -€126 millionrecordedin “Incomeand expensesfrom insuranceactivities”(see Note 6.5). *
Income and expenses recognized for insurance policies are included under the “Income from other activities” and “Expenses from other activities” components of net banking income. Other componentsof the operating income of insuranceentities of a banking nature (interest and commissions) are reclassified under these items of net banking income.
The main reclassificationsrelate to the charging of general operating expenses by nature whereas they are charged by function in the insurance presentation.
420
Registration document 2017
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