GROUPAMA / 2018 Registration document

7 FINANCIAL STATEMENTS

ANNUAL FINANCIAL STATEMENTS AND NOTES

NOTE 12

RESERVES (OTHER THAN UNDERWRITING)

Total reserves as at 31.12.2017

Increase in reserves during the fiscal year

Write-backs for the year

Total reserves as at 31.12.2018

(in thousands of euros)

Regulatory reserves

101

101

Reserves forpensionsandsimilarobligations

50,590

48,583

50,590

48,583

Tax reserves Other contingent liabilitiesreserves

52,761

14,919

41,112

26,568

Other reserves for charges

TOTAL

103,452

63,502

91,803

75,151

The “reserve (other than underwriting)”item included in liabilities of

Assurances Mutuelles following the disposal of the subsidiary

the balance sheet as at 31 December 2018 for €75.1 million Groupama Insurances. particularly includes reserves for pension and similar commitments, which includes a reserve related to pension commitments for employees and former employees of absorbed subsidiaries (SMDA), and a reserve for the pension fund closed since 1997 of Groupama Insurances in the UK taken over by Groupama

However, a significant part of the end-of-career benefit commitments for Groupama Assurances Mutuelles employees is outsourcedmainly to GroupamaGan Vie. Non-coveredretirement obligations are provisioned in a reserve for retirement commitments.

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REGISTRATION DOCUMENT 2018 - GROUPAMA ASSURANCES MUTUELLES