GROUPAMA / 2019 Universal Registration Document

7 FINANCIAL STATEMENTS Consolidated financial statements and notes

Change in non-life outstanding claims reserve 26.4

31.12.2019

31.12.2018

France International

Total

France International

Total

(in millions ofeuros)

Openingreservesfor non-lifeclaims

6,517

2,079

8,596

6,400

2,135

8,535

Change in scope of consolidation

(96)

1

(95)

Claims expensefor the current year

3,951

1,316

5,267

3,810

1,260

5,070

Claims expensefor previous years

(76)

68

(8)

(10)

(34)

(44)

Total claims expense

3,875

1,384

5,259

3,800

1,226

5,025

Claims paymentsfor the current year

(1,746)

(599)

(2,344)

(1,737)

(586)

(2,323)

Claims paymentsfor previous years

(1,838)

(636)

(2,474)

(1,946)

(628)

(2,574)

Total payments

(3,584)

(1,235)

(4,818)

(3,683)

(1,214)

(4,897)

Foreignexchangevariation

(26)

(26)

(68)

(67)

CLOSINGRESERVESFOR NON-LIFECLAIMS

6,713

2,202

8,915

6,517

2,079

8,596

Impact of gross claims 26.5

2015

2016

2017

2018

2019

(in millions ofeuros)

EstimateOf the claims expense End N

4,329

4,932

4,983

4,963

5,257

End N+1

4,311

4,872

5,091

5,016

End N+2

4,416

4,816

4,986

End N+3

4,368

4,754

End N+4

4,247

Claimsexpense

4,247

4,754

4,986

5,016

5,257

Cumulativeclaims payments

3,850

4,090

4,048

3,748

2,339

Outstandingclaims reserves

397

665

938

1,268

2,918

Earnedpremiums

6,349

6,496

6,725

7,000

7,167

LOSSRATIO

66.9%

73.2%

74.1%

71.7%

73.4%

The statement of claim trends shows changes in estimates of the gross claims expense per year of occurrence covering the years 2015 to 2019, i.e., changes in the initial estimates and discounted expense asat the balance sheet date.

The reserve per year of occurrence is calculated as the difference between the estimated claim expense (revalued as at the balance sheet date)and the cumulative payments made.

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Universal Registration Document 2019 - GROUPAMA ASSURANCES MUTUELLES