GROUPAMA / 2019 Universal Registration Document

7 FINANCIAL STATEMENTS Consolidated financial statements and notes

7.1.2

CONSOLIDATED INCOME STATEMENT

31.12.2019

31.12.2018

(in millions ofeuros)

Written premiums

Note 35

10,486

10,477

Change in unearnedpremiums

1

(75)

Earnedpremiums

10,487

10,402

Net bankingincome,net of cost of risk

153

153

Investmentincome

2,064

2,126

Investmentexpenses

(630)

(656)

Capital gains or losses from divestmentsnet of impairmentand depreciationwrite-backs

602

431

Change in fair value of financial instrumentsrecordedat fair value through income

1,445

(785)

Change in impairmenton investments

(3)

(3)

Investmentincomenet of expenses

Note 36

3,478

1,112

Total incomefromordinarybusinesses

14,117

11,667

Insurancepolicy servicingexpenses

Note 37

(10,559)

(8,119)

Income on outwardreinsurance

Note 38

457

240

Expenseson outwardreinsurance

Note 38

(608)

(622)

Net outwardreinsuranceincomeand expenses

(10,710)

(8,501)

Bankingoperatingexpenses

(104)

(104)

Policy acquisitioncosts

Note 40

(1,388)

(1,297)

Administrativecosts

Note 41

(640)

(540)

Other current operating income and expenses

Note 42

(562)

(596)

Total other currentincomeand expenses

(13,404)

(11,038)

Currentoperatingincome

713

629

Other non-currentoperating income and expenses

Note 43

(271)

(31)

Operatingincome

441

598

Financingexpenses

Note 44

(98)

(85)

Share in income of related companies

Note 11

(64)

(56)

Corporateincome tax

Note 45

(171)

(107)

Net incomefromcontinuingbusinesses

108

351

Net income from activitieseither discontinuedor due to be discontinued

Note 3

(4)

(20)

OVERALLNET INCOME

105

330

Of which, non-controllinginterests

1

12

OF WHICH,NET INCOME(GROUPSHARE)

104

319

140

Universal Registration Document 2019 - GROUPAMA ASSURANCES MUTUELLES