GROUPAMA / 2019 Universal Registration Document

2 THE GROUP’S BUSINESSES Groupama, a multi-line and multi-channel insurer

2.1.2

FRENCH NETWORKS

The table below presents the breakdown of consolidated premium income bydistribution network in France.

31.12.2019

31.12.2018

31.12.2017

(in millions ofeuros)

GroupamaAssurancesMutuelles

2,333

2,190

2,154

GroupamaGan Vie

4,012

3,919

3,595

Gan Assurances

1,410

1,421

1,422

AmalineAssurances (1)

74

69

Other specialistGroup companies (2)

374

335

308

Subtotal France insurance

8,129

7,939

7,548

Financialbusinesses

172

173

150

In 2019,transfer ofthe Amaline Assurancesportfolio tothe Groupama regionalmutuals following Amaguiz’sconversion into abroker. (1) Groupama Assurance-Crédit& Caution, Mutuaide Assistance, Société Française deProtection Juridique, CaisseFraternelleÉpargne, andCaisse FraternelleVie, (2) Assuvie.

Groupama network 2.1.2.1 The Groupama network includes local andregional mutuals. The local mutuals are the basis of Groupama’s mutualist organisation, allowing true proximity to be established with policyholders.Policyholders automatically become members of a local mutual, which gives them the right to participate in the General Meeting, be listened to, elect their representativesto the Boardof Directorsand be candidates for theBoard. Local mutuals are reinsured with regional mutuals according to a specific reinsurance mechanism by which the regional mutual takes the place of the local mutuals within its district in fulfilling their insurancecommitments towardsmembers. The regional mutuals are insurance companies that, under the control of a central body Groupama Assurances Mutuelles with which they are reinsured, are responsible for their management, pricing and product policy and, as part of the Group’s strategy, their salespolicy. At the end of 2019, the Groupamanetworkhad 9 regionalmutuals in metropolitan France, 2 overseas mutuals and 2 specialised mutuals. Gan networks 2.1.2.2 Gan Assurances hasa networkof 880multi-line agents. The Gan Eurocourtage network offers social protection solutions for business leaders and their employees, working in close collaborationwith 600 brokerpartners. Gan Prévoyance hasa network of 600 sales advisors. Gan Patrimoine offers its products through a network of 340 agents.

2.1.3

INTERNATIONAL NETWORKS

Groupama offers a wide range of non-life and life insurance products internationally, in nine countries, mainly in Europe. Products on these markets are offered via various distribution networks, particularly exclusive agents, salespeople, brokers, bankingnetworksand partnerships. In the mid-2000s, the Group began to establish banking partnerships,sometimesexclusive, a particular example being the exclusive agreement with OTP Bank covering several countries in Central and Eastern Europe; these partnershipshave enabled the Group to develop in new markets supported by established players. In addition to bancassurance partnerships, the international subsidiaries have developed exclusive and non-exclusive distribution agreements with partners such as leasing companies, car distribution networks, or farming cooperatives. At the end of 2010, Groupama and the AVIC group (Aviation Industry Corporation of China) signed an agreement on the creation of a joint venture to expand activities in the non-life insurance segment in the People’s Republic of China. The joint venture Groupama AVIC has established sales and service networks for individuals and companies in the provinces where it holds licences. In November 2012,it obtained the qualification to provide complete coverage in non-life insurance on the Chinese market. In 2013, Groupamaand the AVIC group signed a second partnership agreement in the field of insurance to support the strong growth of Groupama AVIC Insurance on the agricultural market and the rural sector in China. In 2019, Groupama AVIC Insurance is present in 10 provinces in the People’s Republic of China.

21 Universal Registration Document 2019 - GROUPAMA ASSURANCES MUTUELLES