GROUPAMA / 2018 Registration document

7 FINANCIAL STATEMENTS

CONSOLIDATED FINANCIAL STATEMENTS AND NOTES

31.12.2017

France

International

Property & casualty insurance

Property & casualty insurance

Life & health insurance

Life & health insurance

Total

Total

Total

(in millions of euros)

Acquisition and administrative costs

47

7

54

25

25

79

Claims charges

488

61

549

2

3

5

554

Change in technical reserves

(106)

8

(98)

(98)

Profitsharing Change in the qualisation reserve Incomefromoutward reinsurance

429

76

505

27

3

30

535

Outwardpremiums

(397)

(94)

(492)

(144)

(4)

(148)

(640)

Change in unearned premiums

3

3

3

Expenseson outward reinsurance

(397)

(94)

(491)

(142)

(3)

(145)

(636)

TOTAL

32

(18)

13

(115)

0

(115)

(101)

OPERATING EXPENSES NOTE 37

Note 37.1

Operating expenses – by operating segment

31.12.2018

31.12.2017

France International

Total

France International

Total

(in millions of euros)

Externalexpenses

(489)

(85)

(573)

(441)

(86)

(528)

Taxes

(117)

(26)

(143)

(115)

(24)

(138)

Personnel expenses

(704)

(146)

(851)

(695)

(150)

(845)

Commissions

(1,053)

(403)

(1,455)

(1,028)

(398)

(1,426)

Amortisation and reserves (net of write-backs)

(66)

(25)

(91)

(63)

(27)

(89)

Other expenses

(29)

(36)

(65)

(31)

(47)

(78)

TOTAL OPERATING EXPENSES BY NATURE

(2,457)

(721)

(3,179)

(2,374)

(731)

(3,105)

The Company receives the tax credit for competitiveness and employment (CICE) calculated in accordance with Article 244 quater C of the French General Tax Code at 6%. For fiscal year 2018,the CICE amounted to €6 million. The use of this tax credit particularlypermitted the financing of: actions to improve the competitiveness of the Group’s ❯ companies through investments relating to business

prospecting, improvement of customer satisfaction, and reinforcement of technical analysis and management procedures; IT and process developments related to the use of new ❯ technologies; employee training; ❯ actions relatedto sustainabledevelopment. ❯

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REGISTRATION DOCUMENT 2018 - GROUPAMA ASSURANCES MUTUELLES