GROUPAMA / 2019 Universal Registration Document

7 FINANCIAL STATEMENTS Consolidated financial statements and notes

Held-for-sale or discontinued business activities Note 3

Income from discontinued business activities During the first half of 2019, Groupamaclosed the liquidationof its UK subsidiary Groupama UK, a former holding company of brokerage firms sold in 2017. The income from this liquidation appears in theGroup’s income fora negligible amount. 3.1

Groupama’s 35% stake in La Banque Postale Assurances IARD and the extension of their cooperation in the areas of legal protection andassistance. This transaction will be subject to the necessary procedures with the staff representative bodies prior to the signing of the final agreements. The transaction is expected to take place in the first half of 2020, subject to obtaining the required authorisationsfrom the appropriateregulatoryauthorities. Net income for fiscal year2019 ofthe subsidiaryLa BanquePostale Assurances IARD was -€3 million, and the share of net position amounted to €115 million.

3.2

Held-for-sale or discontinued

business activities

La BanquePostale and the Groupamagroup signed a non-binding memorandumof understandingfor La Banque Postale to acquire

Other intangible assets Note 4

31.12.2019

31.12.2018

Intangible assetsrelated to insurance business

Intangible assetsrelated to insurance business

Other intangible assets

Other intangible assets

Total

Total

(in millions ofeuros)

Openinggross value

435

1,280

1,715

452

1,211

1,663

Increase

135

135

1

113

114

Decrease

(79)

(79)

(2)

(40)

(42)

Foreign exchangeadjustments

(6)

(3)

(8)

(16)

(3)

(20)

Change in scope of consolidation

1

1

Closinggross value

430

1,335

1,764

435

1,280

1,715

Openingcumulativeamortisation & impairment

(253)

(1,107)

(1,359)

(251)

(1,062)

(1,312)

Increase

(16)

(63)

(78)

(16)

(60)

(76)

Decrease

31

31

12

12

Foreign exchangeadjustments

5

2

7

13

3

16

Change in scope of consolidation Closingcumulativeamortisation & impairment

(264)

(1,137)

(1,401)

(253)

(1,107)

(1,359)

Openingcumulativelong-termimpairment

(119)

(1)

(121)

(123)

(1)

(124)

Long-termimpairmentrecognised Long-termimpairmentwrite-backs

1

1

1

1

Foreign exchangeadjustments

1

1

3

3

Change in scope of consolidation Closingcumulativelong-termimpairment

(119)

0

(119)

(119)

(1)

(121)

OPENINGNET VALUE

63

172

235

78

148

227

CLOSINGNET VALUE

47

198

245

63

172

235

167

Universal Registration Document 2019 - GROUPAMA ASSURANCES MUTUELLES