GROUPAMA / 2019 Universal Registration Document

7 FINANCIAL STATEMENTS Annual financial statements and notes

Change over the past five years in claims regulations applied since its inception 11.2 and reserves for claims pending settlement CHANGE IN ACCRUED PREMIUMS AND CLAIMS The datapresentedbelow correspondto changes in the following portfolios: inward reinsurance from regional mutuals; ● run-off business; ● other inward reinsurance. ●

Fiscal years

2014 and earlier

2015

2016

2017

2018

2019

(in thousands ofeuros)

Estimateof the claims expense: at end of N

23,422,698 1,329,591 1,872,609 1,927,798 1,942,129 2,048,813

at end of N+1

23,453,501 1,270,869 1,746,946 1,992,447 1,906,304

at end of N+2

23,363,310 1,375,629 1,638,044 1,990,564

at end of N+3

23,376,035 1,365,828 1,602,300

at end of N+4

23,299,808 1,380,781

at end of N+5

23,305,991

Claimsexpense (a)

23,305,991 1,380,781 1,602,300 1,990,564 1,906,304 2,048,813

Cumulativeclaims payments (b)

21,950,943 1,189,876

969,128 1,452,897 1,262,114

760,880

Outstandingclaims reserves(a)-(b)=(c) (net of the retainedshare of the CDA)

1,355,048

190,905

633,172

537,666

644,190 1,287,933

Earnedpremiums

28,654,370 2,183,898 2,199,955 2,660,499 2,689,220 2,723,276

CLAIMSRATIO

81.33% 63.23% 72.83% 74.82% 70.89% 75.23%

11.3 Liquidationof claims reserves grossof reinsurance

Change in opening claims reserves

2019

2018

(in thousands ofeuros)

Openingclaims reservesnet of expectedrecoveries

4,262,830

4,321,588

Paymentsmade during the yearfor previous yearsnet of expected recoveries

(815,879)

(1,040,894)

Closing claims reservesnet of expectedrecoveries

(3,348,940)

(3,110,918)

SURPLUS/DEFICIT

98,011

169,777

The openingsurplusposted in 2019 on claims reservestotalled€98.0 million.It consistsmainly of a surpluson acceptedrisks on the inward reinsuranceportfolio of subsidiaries and profit centresfor €93.9 million.

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Universal Registration Document 2019 - GROUPAMA ASSURANCES MUTUELLES