GROUPAMA / 2019 Universal Registration Document

7 FINANCIAL STATEMENTS Consolidated financial statements and notes

Investment income net of management expenses 36.2.1 (income breakdown by type of asset) – France

31.12.2019

31.12.2018

Income and expenses

Proceedsof disposal (1)

Change in fair value

Change in reserves

Income and expenses

Proceedsof disposal (1)

Change in fair value

Change in reserves

Total

Total

(in millions ofeuros)

Property

36

550

2

589

56

347

(11)

392

Equities

90

43

133

48

26

(3)

71

Bonds

1,130

35

7

1,172 1,194

64

(30)

1,228

Equitymutual funds

121

7

(37)

90

119

18

(37)

101

Mutual funds: Cash from repurchaseagreements

(13)

(3)

(16)

(15)

(2)

(17)

Other cash mutual funds

(6)

(7)

(9)

(3)

(11)

Bondmutual funds

36

(35)

56

(1)

56

37

(28)

(38)

(28)

Derivatives

(25)

(25)

63

63

Other investmentincome

170

5

(48)

127

196

6

25

1

227

Investmentincome

1,582

586

(50)

1 2,119 1,651

410

(22)

(14)

2,025

Internal and external managementexpenses and expenseson financial instruments

(284)

(284)

(307)

(307)

Other investmentexpenses

(39)

(39)

(33)

(33)

Investmentexpenses

(322)

(322)

(340)

(340)

Investmentincome,net of expenses Capital gains on securities representingunit-linkedpolicies Capital losses on securities representingunit-linkedpolicies Adjustmentson unit-linked policies

1,260

586

(50)

1 1,796 1,311

410

(22)

(14)

1,685

1,500

1,500

337

337

(76)

(76)

(1,045)

(1,045)

1,424

1,424

(708)

(708)

TOTAL

1,260

586 1,373

1 3,220 1,311

410 (730)

(14)

978

Net of write-back ofimpairment andamortisation. (1)

220

Universal Registration Document 2019 - GROUPAMA ASSURANCES MUTUELLES