GROUPAMA / 2019 Universal Registration Document

1 OVERVIEW OF THE GROUP Key figures

1.2.3

TIES BETWEEN THE VARIOUS

Relationsbetweenthe regionalmutualsand GroupamaAssurances Mutuellesare governed by: an InternalReinsuranceagreementbetweenthe regionalmutuals ● and GroupamaAssurancesMutuelleswith terms updated every year; a security and solidarity agreement between all the regional ● mutuals and Groupama Assurances Mutuelles (“agreement definingthe securityand solidaritymechanismsof the Caissesde RéassuranceMutuelle Agricole”).This agreement is described in more detail in Note 46 – Related Parties – to the consolidated financial statements and is the subject of a special report from the statutory auditors on regulated agreements and commitments(see section 3.7).

GROUP ENTITIES

The subsidiaries are bound by capital ties. Subsidiaries indirectly and directly owned by Groupama Assurances Mutuelles are included in its consolidatedaccounts.Moreover, in exchange for a certain degree of operationalautonomy,each of the subsidiariesis subject to the requirements and obligations defined by the GroupamaAssurancesMutuelles environment,particularly in terms of control.

1.3

KEY FIGURES

1.3.1

CONSOLIDATED SCOPE OF GROUPAMA ASSURANCES MUTUELLES

The following table shows financial disclosuresand ratios from the the application of international financial reporting standards, the Groupama Assurances Mutuelles consolidated accounts for the consolidated financial statements of Groupama Assurances fiscal years ended 31 December 2017, 2018, and 2019. In Mutuelles have been prepared in accordance with the IFRS as accordancewith EC Regulation no 1606/2002of 19 July 2002 on adopted bythe European Union.

2019

2018

2017

(in millions ofeuros)

Premiumincome (1)

10,658

10,649

10,303

of which France insurance

8,129

7,939

7,548

of which Internationalinsurance

2,357

2,537

2,605

of which financialand bankingbusinesses

172

173

150

Non-lifecombinedratio (2)

98.5 %

100.1 %

100.3 %

Economicoperatingincome (3)

234

182

196

Net income,Group share

104

319

87

Financialstructureand soundness Group'sequity, Group share

6,076

5,274

5,257

TOTALBALANCESHEET

93,571

88,506

90,645

Insurance premiums writtenand income from financial businesses. (1) See glossaryin this Universal RegistrationDocument(page 325). (2)

Economicoperating incomeequals net income adjusted forrealisedcapital gains and losses, long-term impairment increases and write-backs, andunrealised (3) capital gains and losseson financial assets recognisedat fair value (allsuch items are netof profit sharingand corporatetax). Also adjusted are non-recurring items netof tax, impairment ofvalue of business in forceand impairment of goodwill(net of tax).

8 Universal Registration Document 2019 - GROUPAMA ASSURANCES MUTUELLES

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