GROUPAMA / 2019 Universal Registration Document

1 OVERVIEW OF THE GROUP Strategy

1.3.3

CONSOLIDATED SCOPE/COMBINED SCOPE DATA RECONCILIATION

Premium income ı

2019

2018

(in millions ofeuros)

Consolidatedpremiumincome

10,657

10,650

Premium income/revenue– regional mutuals

5,928

5,663

Internal transactions/operations

GroupamaAssurancesMutuelles

(2,193)

(2,046)

GroupamaGan Vie

(8)

0

GroupamaAsset Management

(3)

(4)

Combinedpremiumincome

14,381

14,263

Net income ı

2019

2018

(in millions ofeuros)

Consolidatednet income

104

319

Net income – regional mutuals

239

123

Net income – GroupamaAssurancesMutuelles

16

(3)

Net income – Propertycompanies

0

11

Net income – Amaline

(14)

0

Combinednet income

345

450

1.4

STRATEGY

1.4.1

AN ENVIRONMENT UNDERGOING PROFOUND CHANGE

The conversion of Groupama SA into Groupama Assurances Mutuellesin June 2018restoredthe Group’sconsistencybased on its three levels of mutualisation: the local mutual, the regional mutual,and the nationalmutual. By unifying its values and organisation, the Groupama group is demonstratingits commitmentto its mutual insurancebackground and to timeless human values such as solidarity, accountability, engagement, and optimism and is using them in an ambitious savings project for itsmembers and customers. All our efforts will focus on the successof two major strategiesthat contributeto the fulfilmentof our purpose“to allow as many people as possible buildtheir lives confidently”. In a profoundly changing environment, the Group is showing renewed momentum for strong, shared ambitions.

In a context of significant change, Groupama is facing external constraints that it has to take on board and transform into opportunitiesas part of the Group’sstrategicprogramme: a difficult economic climate affecting the demand for insurance ● and puttingpressureon the economic model of insurers; conversion of players: driven by regulatory developments ● (Solvency II, IFRS,etc.), consolidationof the sectorcontinues; very strong competition in a world where the GAFAs are setting ● new standards forcustomer relations; numerous tax and regulatory developments; ● significant technological advancements, with digital technology ● playing an increasingly significant role, and access to large quantities of information. Insurers need to be able to process information, and big data and advanced analytics represent considerable opportunities in keeping with our ethics. Artificial

10 Universal Registration Document 2019 - GROUPAMA ASSURANCES MUTUELLES