GROUPAMA / 2019 Universal Registration Document

7 FINANCIAL STATEMENTS Consolidated financial statements and notes

2018

Underwriting reserves

Shareholders’ equity

Premium income

Net income

Total assets

(in millions of euros)

BanquePostaleAssurancesIARD (1)

358

(2)

517

802

134

STAR (2)

114

3

206

327

96

Groupama –AVIC Property InsuranceCo. (1)

301

4

174

389

138

OrangeBank (1)

(170)

5,295

325

CompagnieFinancièred’OrangeBank (1)

(1)

529

524

Actual data. (1) Estimated data forincome andearnings / Actual data atDecember 2017 forthe balance sheet. (2)

The Group has chosen to opt for the temporary exemption from the rule on uniformity of accountingpolicies ordinarily required by IAS 28 and provided for in paragraph 20O (b) of the amendment to IFRS 4 “ApplyingIFRS 9 – Financial Instruments with IFRS 4 – InsuranceContracts”. This amendment allows insurance groups that have elected to defer application of IFRS 9, and that consolidate their related

companies using the equity method to preserve the financial statementspreparedby such related companiesfor the purposes of producing their consolidated financial statements. This option concerns the financial statements used for the application of the equity method on related companies of Orange Bank (which has applied IFRS 9 since 1 January 2018).

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Universal Registration Document 2019 - GROUPAMA ASSURANCES MUTUELLES