GROUPAMA / 2018 Registration document

FINANCIAL STATEMENTS CONSOLIDATED FINANCIAL STATEMENTS AND NOTES

Ex-post comparative analyses of business plan data and actual data for the main income statement totals (combined ratio, underwriting income etc.)have been carried out and have not had any impacton the impairmenttests. Sensitivity tests have been carried out on the value in use applied, with the following change assumptions: rise of 100 basispoints inthe discountrate; and ❯ decline of 50 basispoints in thelong-term rate ofgrowth. ❯ For the goodwill of the CGU in countries of Central and Eastern Europe, a combined increase of 100 basis points in the discount rate and yield rate would lead to excess hedging of €187 million (while a lowering by 100 basis points would result in excess hedging of €333 million).On this same CGU, the sensitivity test on the long-term growth rate would result in excess hedging of €217 million if it falls by 50 basis points (the excess would be €282 millionwith an increase of50 basis points).

For the goodwill of the CGU of the Greek subsidiary, Groupama Phoenix,an increaseof 100 basis points in the discountrate would lead to a test at breakeven(while a loweringof the discount rate by 100 basis points would result in a surplus of €62 million). The sensitivity test on a decrease in the long-term growth rate of 50 basis points would result in surplus hedging of €20 million (the surplus would be €33 millionwith a favourable change of 50 basis points). On the cash-generating unit of the French subsidiary Gan Assurances,the sensitivity test on an increase of 100 basis points in the discount rate would lead to a shortfall of €56 million,while a decrease of 100 points would lead to a surplus of €213 million. The test on a decrease in the long-term growth rate of 50 basis points would result in a surplus of €29 million,while an increase of 50 basis pointswould result ina surplus of€88 million. The simultaneous occurrence of all adverse or favourable scenarios would have an impact nearly identical to the accumulationof impactstaken in isolation.

Note 2.2

Goodwill – Broken down by cash-generating unit

31.12.2018

Foreign exchange adjustment

Gross value

Impairment

Net value

(in millions of euros)

Countriesof CentralandEastern Europe

1,031

(502)

(189)

340

Italy

781 262

781

Turkey

(147)

(115)

0

Greece

131

(48)

83

7

Total International

2,205

(697)

(304)

1,204

Groupama Gan Vie

470 196

470 196

Gan Assurances

Financialbusinesses,property and otherinsurance companies

30

30

TotalFranceandOverseas

696

696

CLOSING VALUE

2,901

(697)

(304)

1,900

31.12.2017

Foreign exchange adjustment

Gross value

Impairment

Net value

(in millions of euros)

Countries of CentralandEastern Europe

1,031

(502)

(182)

347

Italy

781

781

Turkey

262

(147)

(115)

0

Greece

131

(48)

83

Total International

2,205

(697)

(297)

1,211

Groupama Gan Vie

470

470

Gan Assurances

196

196

Financialbusinesses,property and otherinsurance companies

30

30

TotalFranceandOverseas

696

696

CLOSING VALUE

2,901

(697)

(297)

1,907

209

REGISTRATION DOCUMENT 2018 - GROUPAMA ASSURANCES MUTUELLES