GROUPAMA / 2020 UNIVERSAL REGISTRATION DOCUMENT

7 FINANCIAL STATEMENTS Consolidated financial statements and notes

31.12.2019

France

International

Property and casualty insurance

Banking and finance business

Property and casualty insurance

Life and health insurance

Holding company business

Life and health insurance

Holding company business

Total

Total

Total

(in millions of euros)

3,516 4,703

8,219 1,548 720

2,268 10,487

Earned premiums

Net banking income, net of cost of risk

153

153

153

Investment income

122 1,711

5 1,837

108 115

4 227 2,064

Investment expenses

(57)

(515)

(3)

(575)

(36)

(19)

(55)

(630)

Capital gains or losses from divestments net of impairment and depreciation write-backs Change in fair value of financial instruments recorded at fair value through income

35 538

13 586

10

6

16 602

(4)

1,380

(3)

1,373

72

72 1,445

Change in impairment on investments

(1)

(1)

(1)

(1)

(2)

(3)

Total income from ordinary business activities

3,612 7,817

153

10 11,592 1,629 893

4 2,526 14,117

Insurance policy servicing expenses (2,198)

(6,378)

(8,575)

(1,262)

(722)

(1,984) (10,559)

Income on outward reinsurance

306 100

406

48

2

51 457

Expenses on outward reinsurance

(441)

(115)

(555)

(50)

(3)

(53)

(608)

Banking operating expenses

(104)

(104)

(104)

Policy acquisition costs

(515)

(446)

(961)

(327)

(100)

(428)

(1,388)

Administrative costs

(260)

(247)

(507)

(93)

(41)

(134)

(640)

Other current operating income and expenses

(111)

(210)

5 (147)

(464)

(88)

(8)

(1)

(98)

(562)

CURRENT OPERATING INCOME

393 522

54 (137)

833 (143)

21

3 (120)

713

Other operating income and expenses (67)

(1)

(81)

(149)

(101)

(22)

(123)

(271)

OPERATING INCOME

327 521

(27)

(138)

684 (244)

(1)

3 (242)

441

Financing expenses

(3)

(93)

(97)

(1)

(1)

(98)

Share in income of related companies

(63)

(63)

(1)

(1)

(64)

Corporate income tax

(162)

(162)

(16)

132 (208)

37

1

37 (171)

NET INCOME FROM CONTINUING OPERATIONS Net income from activities either discontinued or due to be discontinued

161 360 (106)

(99)

316 (209)

(1)

2 (208)

108

(3)

(4)

(4)

OVERALL NET INCOME

158 360 (106)

(99)

313 (209)

(1)

2 (208)

105

of which, non-controlling interests

1

1

1

OF WHICH, NET INCOME (GROUP SHARE)

158 359 (106)

(99)

312 (209)

(1)

2 (208)

104

171 Universal Registration Document 2020 - GROUPAMA ASSURANCES MUTUELLES