GROUPAMA / 2020 UNIVERSAL REGISTRATION DOCUMENT

7 FINANCIAL STATEMENTS Consolidated financial statements and notes

Costs by category 3.16 Management fees and commissionsrelated to insurance business are classified according to their purpose, by applying allocation keys definedbasedon the structureand organisationof each of the insurance entities. Expenses are classified into the following six purposes: acquisition costs; ❯ administrative costs; ❯

bankingand finance business:The bankingand financebusiness ❯ relates to distribution of banking products, including fund management activities, real estate management, private equity and employee savings; holding company business: This mainly comprises income and ❯ expenses arising from managing the Group and holding the shares of the companies included within the Groupama Assurances Mutuelles scope of consolidation.

claims settlement costs; ❯ investment expenses; ❯ other technical expenses; ❯ non-technical expenses. ❯

Notes to the financial statements 4

Note 1

Segment reporting

1.1

Segment reporting by operating segment

31.12.2020

31.12.2019

France International

Total

France International

Total

(in millions of euros)

Intangible assets

895

1,017

1,912

862

1,174

2,035

77,081

7,496

84,577

76,356

7,387

83,743

Insurance business investments

Funds used in banking sector businesses and investments of other business activities

134

134

121

121

Investments in related companies and joint ventures

110

144

254

155

144

299

Share of outward reinsurers and retrocessionaires in liabilities relating to insurance policies and financial contracts

1,700

91

1,791

1,452

111

1,563

Other assets

5,285

586

5,871

4,536

739

5,275

Assets held for sale and discontinued business activities

115

115

Cash and cash equivalents

401

94

495

290

129

419

CONSOLIDATED TOTAL ASSETS

85,605

9,429

95,035

83,887

9,684

93,571

Reserves for contingencies and charges

311

83

394

275

81

356

Financing liabilities

1,632

1,632

1,630

1,630

Underwriting liabilities relating to insurance policies

54,238

4,563

58,801

53,278

4,763

58,041

Underwriting liabilities relating to financial contracts

9,695

2,011

11,706

10,274

1,953

12,227

Deferred profit-sharing liabilities

5,856

145

6,002

5,369

126

5,494

Resources from banking sector activities

12

12

14

14

Other liabilities

9,790

279

10,068

9,432

271

9,703

Liabilities of business activities due to be sold or discontinued TOTAL CONSOLIDATED LIABILITIES EXCLUDING GROUP'S EQUITY

81,535

7,081

88,616

80,271

7,193

87,465

169

Universal Registration Document 2020 - GROUPAMA ASSURANCES MUTUELLES