GROUPAMA / 2019 Universal Registration Document

7 FINANCIAL STATEMENTS Annual financial statements and notes

Operating income statement by source Note 17

31.12.2019

31.12.2018

RUN-OFF and CDA

Inward reinsurance

RUN-OFF and CDA

Inward reinsurance

Total

Total

(in thousands ofeuros)

Earned premiums

81,741 2,767,976 2,849,717

75,177 2,668,499 2,743,676

Claims expense

26,330 1,990,279 2,016,610

(50,011)

1,886,259 1,836,248

Chargesfrom other technicalreserves

22,847

(33,298)

(10,452)

6,734

31,483

38,217

Change in the equalisationreserve

143

(16,291)

(16,147)

195

74,069

74,264

Profit sharing

0

0

0

0

0

0

A- Underwritingresult

78,400

728,108

806,508

132,117

887,791 1,019,908

Acquisitioncosts

500

351,205

351,705

716

351,127

351,843

Administrativecosts

0

227,978

227,978

0

211,771

211,771

Other technicalcosts and income

(806)

192,887

192,081

(2,745)

150,233

147,488

B- Net acquisitionand managementexpenses

(306)

772,070

771,764

(2,029)

713,132

711,103

C- Allocatedinvestmentincome

0

279,442

279,442

0

57,405

57,405

D- Reinsuranceresult

29,806

121,779

151,585

105,835

200,645

306,480

OPERATINGPROFIT/LOSS(A-B+C-D)

48,901

113,701

162,601

28,311

31,419

59,731

Investment income and expenses Note 18

31.12.2019

31.12.2018

Type of income (in thousands ofeuros)

Related companies

Equity-linked companies Other origins

Related companies

Equity-linked companies Other origins

Total

Total

Investmentincome Incomefrom investments

844,409

1,874 17,242 863,525 276,192

960 19,028 296,180

Investmentincome

831,088

1,874

832,962 239,895

960

240,855

Income from real estate investments

12,804

20 12,824

36,034

17 36,051

Income from other investments

517

17,222 17,739

263

19,011 19,274

Other financial income Other investmentincome

20,516

63 44,578 65,157

52,481

64 13,933 66,478

Profits on the sale of investments

243 12,816 13,059

1,416

3,424 4,840

Total investmentincome

864,925

2,180 74,636 941,741 328,673

2,440 36,385 367,498

InvestmentExpenses Internal and external investment managementcosts and financial expenses

56,839

236 174,941 232,016

24,595

185 170,220 195,000

Other investmentexpenses

191,345

7 20,275 211,627

5,822

26 18,397 24,245

Losses on the sale of investments

262

8,191 8,453

40,312

96

9,275 49,683

Total investmentexpenses

248,446

243 203,407 452,096

70,729

307 197,892 268,928

NET INVESTMENTINCOME

616,479

1,937 (128,771) 489,645 257,944

2,133 (161,507)

98,570

292

Universal Registration Document 2019 - GROUPAMA ASSURANCES MUTUELLES