GROUPAMA / 2020 UNIVERSAL REGISTRATION DOCUMENT

6 EARNINGS AND FINANCIAL POSITION Management report of the Board of Directors

6.1.3

POST-BALANCE SHEET

Inclement weather (e) The year 2020 was marked by a substantial weather loss experience. Significant droughts took place in the summer, and some usually spared areas were affected, particularly in northern and northeastern France. In October, Storm Alex, which struck Brittany before causing deadly floods in Alpes-Maritimes, left significant material damage across the territory, with around a hundred houses damaged or even completely destroyed and bridges and roads washed away, particularly in the Vésubie, Tinée, and Roya valleys.

EVENTS

On 8 January 2021, the Groupama group concluded the acquisition of the legaltech company Juritravail from MyBestPro. With this acquisition, this Group is expanding its offering of legal services for individuals, professionals, and businesses.

6.1.4

ANALYSIS OF FINANCIAL STATEMENTS

The Covid-19 pandemic began to wreak havoc on 2020 in March with major impacts on the economy, individuals and entities, and markets. Since the beginning of the crisis, Groupama’s 24,000 employees have remained constant in their commitment to supporting policyholders and members on a daily basis thanks to the effectivenessof teleworking and paperless exchanges, significantly bolstered and widely implementedsince the beginning of the first

lockdown and with the commitmentof its 31,500mutual insurance elected representatives. For the insurancesector, the consequencesof this crisis have also be significant. The Group has therefore supported its customers and members, especially by granting premium reductions and payment facilities. It also contributed to the collective effort by contributing to the VSE/SME solidarity fund set up by the central government and to governmentexpenditurefor the managementof the Covid-19 pandemic.

6.1.4.1

Introductory summary: reminder of the combined Group’s business data

31.12.2019 pro forma

Like-for-like change

Premium income (in millions of euros)

31.12.2019

31.12.2020 Actual change

Property and casualty insurance – France

5,755

5,652

5,692

-1.1%

0.7%

Groupama Gan Vie

4,004

4,004

4,164

4.0%

4.0%

Life and health insurance in France – excluding Groupama Gan Vie

2,097

2,097

2,155

2.7%

2.7%

Total Insurance – France

11,857

11,753

12,011

1.3% 2.2%

Property and casualty insurance – International

1,623

1,573

1,540

-5.1% -2.1%

Life and health insurance – International

734

712

705

-4.0% -1.0%

Total Insurance - International

2,357

2,285

2,245

-4.7% -1.7%

Financial businesses

168

168

189

12.7% 12.7%

Groupama total

14,381

14,206

14,445

0.4% 1.7%

Total Insurance

14,213

14,039

14,256

0.3% 1.6%

Property and casualty insurance

7,377

7,225

7,233

-2.0%

0.1%

Life and health insurance

6,836

6,814

7,024

2.7%

3.1%

2019 pro forma data: The restatement of certain data from31 December 2019 was necessary to allow changes between the twpoeriods to be compared and analysed. Groupama Assurances Mutuellesp: ro forma figures were used to take into account the end of thqeuota share treaty with La Banque Postale (impact: -€103 million in property and casualty insurance). For those entities that do not use the euro as their functional currency (Turkey, Romania anHdungary), the exchange rate effects are neutralised in the prforma data; the actual data at 31 December 2019 were converted based on the exchange rate at 31 Decemb2e0r 20. In the rest of the document, figuresare expressed on a like-for-like basis and with constanetxchange rates. The data with constant exchange ratecsorrespond to the comparison between the actual data at 31 December 2020 and the actual data at 31 December 2019co, nverted at the average exchange rates at 31 December 2020.

At 31 December 2020, Groupama’s combined premium income from insurance increased 1.6% to €14.3 billion on a like-for-like basis (+0.3% in actual data) compared with 31 December 2019.

Includingthe financial

businesses,the Group’scombinedpremium

income

was up 1.7% on a like-for-like basis (+0.4% in actual

change) at €14.4 billion.

118 Universal Registration Document 2020 - GROUPAMA ASSURANCES MUTUELLES