GROUPAMA / 2018 Registration document

FINANCIAL STATEMENTS CONSOLIDATED FINANCIAL STATEMENTS AND NOTES

Change in reserves for non-life claims payable Note 25.4

31.12.2018

31.12.2017

France International

Total

France International

Total

(in millions of euros)

Openingreserves for non-life claims

6,400

2,135

8,535

5,796

2,294

8,090

Portfolio transfers

(10)

(10)

Claims expense forthecurrentfiscal year

3,810

1,260

5,070

3,865

1,236

5,102

Claims expense forprevious years

(10)

(34)

(44)

226

(96)

130

Totalclaimsexpense

3,800

1,226

5,025

4,092

1,140

5,232

Claims payments for thecurrent year

(1,737)

(586)

(2,323)

(1,635)

(580)

(2,215)

Claims payments for previous years

(1,946)

(628)

(2,574)

(1,852)

(650)

(2,502)

Total payments

(3,683)

(1,214)

(4,897)

(3,486)

(1,230)

(4,717)

Foreignexchangevariation

(68)

(67)

(2)

(59)

(61)

CLOSING RESERVES FOR NON-LIFE CLAIMS

6,517

2,079

8,596

6,400

2,135

8,535

Impact of gross claims Note 25.5

2,014

2,015

2,016

2017

2018

(in millions of euros)

Estimateof theclaims expense End N

4,498

4,386

5,012

5,053

5,062

End N+1

4,495

4,380

4,937

5,164

End N+2

4,476

4,485

4,885

End N+3

4,498

4,404

7

End N+4

4,478

Claims expense

4,478

4,404

4,885

5,164

5,062

Cumulative claims payments

3,798

3,830

4,034

3,759

2,317

Outstanding claims reserves

679

574

851

1,405

2,744

Earned premiums

6,292

6,420

6,551

6,821

6,821

S/P

71.2%

68.6%

74.6%

75.7%

74.2%

The statement of claim trends shows changes in estimates of the gross claims expense per year of occurrence covering the years 2014 to 2018, i.e., changes in the initial estimates and discounted expenseas at the balance sheet date.

The reserve per year of occurrence is calculated as the difference between the estimated claim expense (revalued as at the balance sheet date) andthe cumulative payments made.

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REGISTRATION DOCUMENT 2018 - GROUPAMA ASSURANCES MUTUELLES