GROUPAMA / 2019 Universal Registration Document

7 FINANCIAL STATEMENTS Consolidated financial statements and notes

Investment income net of management expenses 36.2.2 (income breakdown by type of asset) – International

31.12.2019

31.12.2018

Income and expenses

Proceeds of disposal (1)

Income and expenses

Proceeds of disposal (1)

Change in fair value

Change in reserves

Change in fair value

Change in reserves

Total

Total

(in millions ofeuros)

Property

(6)

1

(5)

(2)

1

0

Equities

1

1

2

1

2

(1)

3

Bonds

163

163

168

3

(1)

170

Equitymutual funds

15

5

26

(1)

44

6

18

(23)

1

Mutual funds: Cash from repurchaseagreements Other cash mutual funds

(1)

(1)

(1)

Bondmutual funds

4

(1)

3

5

(5)

(2)

(2)

Derivatives Other investmentincome

18

10

(1)

27

15

2

(7)

9

Investmentincome

195

16

26

(2)

235

193

20

(33)

180

Internal and external managementexpenses and expenseson financial instruments

(8)

(8)

(8)

(8)

Other investmentexpenses

(15)

(15)

(15)

(15)

Investmentexpenses

(23)

(23)

(23)

(23)

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

172

16

26

(2)

212

170

20

(33)

157

62

62

7

7

(16)

(16)

(29)

(29)

46

46

(22)

(22)

TOTAL

172

16

72

(2)

258

170

20

(55)

135

Net of write-back ofimpairment andamortisation. (1)

221

Universal Registration Document 2019 - GROUPAMA ASSURANCES MUTUELLES