GROUPAMA / 2018 Registration document

7 FINANCIAL STATEMENTS

CONSOLIDATED FINANCIAL STATEMENTS AND NOTES

Change in post-employment benefits recognised through net income Note 23.3 and profits/losses recognised directly through group’s equity

31.12.2018

31.12.2017

(in millions of euros)

Cost of services:

Cost of past services

(8)

(7)

Cost of past servicesandprofit/losson liquidation

1

Net intereston netactuarial debt

(2)

(2)

Other

COMPONENT OF THE EXPENSE RECOGNISED IN THE INCOME STATEMENT Revaluation of net actuarial debt: Portion of return on hedging assets not recognised in theincome statement

(10)

(9)

(23)

21

Actuarialdifferences resulting from changes in demographic assumptions

3

5

Actuarialdifferences resulting from changes in financialassumptions

27

(12)

Experience-related adjustments

6

5

Change in effect of asset cap

COMPONENT OF THE EXPENSE RECOGNISED THROUGH PROFIT/LOSSES POSTED DIRECTLY AS GROUP’S EQUITY

13

19

Information pertaining to personnel benefits – distribution of hedging assets Note 23.4

31.12.2018

31.12.2017

(in millions of euros)

Equities

209

251

Bonds

76 75

61 85

Other

CLOSING FAIR VALUE OF HEDGING ASSETS

360

397

Sensitivity analysis Note 23.5 The sensitivityto an increaseof 50 basis points in the discount rate is -6% on the gross actuarial debt total for France, and -8.2% for the United Kingdom.

Sensitivity to social commitments in relation to illness cover: as at 31 December 2018, actuarial debt for illness cover amounted to €11 million. The sensitivity of this debt to an increase of 50 basis points inthe discountrate is -5%.

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REGISTRATION DOCUMENT 2018 - GROUPAMA ASSURANCES MUTUELLES