GROUPAMA / 2019 Universal Registration Document

7 FINANCIAL STATEMENTS Consolidated financial statements and notes

Investment income net of management expenses Note 36

Investment income net of investment expenses – by operating segment 36.1

31.12.2019

31.12.2018

France International

Total

France International

Total

(in millions ofeuros)

Interest on depositsand financial investments income

1,603

212

1,815

1,660

211

1,870

Gains on foreign exchangetransactions

40

11

51

48

10

57

Income from differenceson redemptionprices as yet not received (premium/discount)

109

3

112

109

3

112

Income from property

86

86

86

87

Other investmentincome Incomefrom investments

1,837

227

2,064

1,903

223

2,126

Interest on depositsreceivedfrom reinsurers

(1)

(1)

Losses on foreign exchangetransactions

(41)

(8)

(48)

(31)

(8)

(39)

Amortisationof differencesin redemptionprices (premium-discount)

(206)

(25)

(231)

(222)

(29)

(250)

Impairmentand reserveson property

(47)

(6)

(53)

(41)

(1)

(43)

Managementexpenses

(282)

(15)

(297)

(308)

(15)

(323)

Investmentexpenses

(575)

(55)

(630)

(603)

(53)

(656)

Held for trading

(35)

2

(32)

(49)

13

(36)

Available-for-sale

71

13

83

112

6

118

Held to maturity Other

550

1

551

347

1

349

Capital gains (losses)fromsales of investments,net of impairmentreversals and write-backs

586

16

602

410

20

431

Held for trading

(25)

26

1

(85)

(33)

(118)

Derivatives

(25)

(25)

63

62

Adjustmentson unit-linkedpolicies

1,424

46

1,470

(708)

(22)

(730)

Changein fair value of financialinstruments recordedat fair value by income

1,373

72

1,445

(730)

(55)

(785)

Available-for-sale

(1)

(2)

(3)

(3)

(1)

(4)

Held to maturity Receivablesand loans

1

1

Changein impairmentlosses on financial instruments

(1)

(2)

(3)

(3)

(1)

(3)

TOTAL

3,220

258

3,478

978

135

1,112

218

Universal Registration Document 2019 - GROUPAMA ASSURANCES MUTUELLES