GROUPAMA / 2019 Universal Registration Document

7 FINANCIAL STATEMENTS Consolidated financial statements and notes

Change in post-employment benefits recognised through net income 24.3 and profits/losses recognised directly through group’s equity

31.12.2019

31.12.2018

(in millions ofeuros)

Cost of services:

Cost of past services

(11)

(8)

Cost of past servicesand profit/losson liquidation Net interest on net actuarialdebt

(2)

(2)

Other COMPONENTOF THE EXPENSERECOGNISEDIN THE INCOME STATEMENT Revaluationof net actuarialdebt: Portion of return on hedgingassets not recognisedin the income statement

(13)

(10)

32

(23)

Actuarialdifferencesarising from changes in demographicassumptions

4

3

Actuarialdifferencesresultingfrom changes in financialassumptions

(38)

27

Experience-relatedadjustments

7

6

Change in effect of asset cap COMPONENTOF THE EXPENSERECOGNISEDTHROUGH PROFIT/LOSSESPOSTEDDIRECTLYASGROUP'SEQUITY

4

13

Information pertaining to personnel benefits – distribution of hedging assets 24.4

31.12.2019

31.12.2018

(in millions ofeuros)

Equities

60

209

Bonds

76

Other

344

75

CLOSINGFAIR VALUEOF ASSETS

404

360

Sensitivity analysis 24.5 The sensitivityto an increaseof 50 basispoints in the discountrate is -6.3%on the total gross actuarialdebt for France, and -7.5% for the United Kingdom.

Sensitivity to social commitmentsin relation to illness cover: as at 31 December 2019, actuarial debt for illness cover amounted to €11 million. The sensitivity of this debt to an increase of 50 basis points in the discount rate is -5.2%.

203

Universal Registration Document 2019 - GROUPAMA ASSURANCES MUTUELLES