GROUPAMA / 2018 Registration document

FINANCIAL STATEMENTS ANNUAL FINANCIAL STATEMENTS AND NOTES

the usual specific and technical guarantees (run off) upon the ❯ disposal of The Gan Company of Canada Ltd. to CGU group Canada Ltd.; the specific usual guarantees during the sale of Gan ❯ Eurocourtage’s brokerage portfolio to Allianz; the fundamental guarantees (authorisations, ownership of ❯ equities,positionof the bank, absenceof subsidiariesand equity interests) related to the contribution of Groupama Banque securitiesto Compagnie Financièred’Orange Bank; the specific guarantees (professional liability not covered by the ❯ insurance taken out, managementof sums on behalf of insurers and policyholders) related to the sale of 94% of Carole Nash’s

debts held by GUK Booking Services (subsidiary of Groupama AssurancesMutuelles) to Atlanta InvestmentHoldingA & 2; the specific guarantees (professional liability not covered by the ❯ insurance taken out, managementof sums on behalf of insurers and insured) and fundamental guarantees (authorisations, ownership of securities, absence of bankruptcy) related to the sale of Mastercover held by GUK Booking Services Nevada InvestmentsTopco and Nevada InvestmentHoldings 7; the specific and fundamental guarantees related to the sale of ❯ 50% of the shares of Présence Verte SA and its subsidiary PVTAP.

NOTE 17

OPERATING INCOME STATEMENT BY SOURCE

31.12.2018

31.12.2017

Run-off and CDA

Inward reinsurance

Run-off and CDA

Portfolio transfer

Inward reinsurance

Total

Total

(in thousands of euros)

Earned premiums

75,177 2,668,499 2,743,676

76,165 (30,837)

2,662,647 2,707,975

Claims expense

(50,011)

1,886,259 1,836,248 334,297 172,639 1,456,768 1,963,705

Charges from othertechnicalreserves

6,734

31,483

38,217 (10,005)

36,118 (117,221)

(91,108)

Change in the qualisation reserve

195

74,069

74,264

184

119,893 (151,008)

(30,931)

Profitsharing

0

0

0

0

0

0

A- Underwriting result

132,117 887,791 1,019,908 (267,953)

(47,465)

937,650 622,232

7

Acquisition costs

716

351,127 351,843

502

317,956 318,458

Administrative costs

0

211,771 211,771

0

209,249 209,249

Other technical costsand income

(2,745)

150,233 147,488

(947)

153,232 152,285

B- Net acquisition and management expenses

(2,029)

713,132 711,103

(445)

680,437 679,992

C- Allocated investment income

0

57,405

57,405

0

271,020 271,020

D- Reinsurance Result

105,835 200,645 306,480

9,495

311

(26,810)

(17,004)

OPERATING PROFIT/LOSS (A-B+C-D)

28,311

31,419

59,731 (277,003)

(47,776)

555,042 230,264

319

REGISTRATION DOCUMENT 2018 - GROUPAMA ASSURANCES MUTUELLES