GROUPAMA / 2020 UNIVERSAL REGISTRATION DOCUMENT

7 FINANCIAL STATEMENTS Consolidated financial statements and notes

The fair value of investment property cannot generally be the basis of observabledata are classified in level 2. The fair value determined by reference to quotes in an active market. As a result, of investment property classified as level 2 is €2,624 million investment propertycannot be classifiedas level 1 accordingto the compared with €68 million in level 3. The level 2 investment fair value hierarchyestablishedin IFRS 13.Nevertheless,most profit property comprisesmainly property located in Paris or the Greater assets undergo an annual appraisal by an independent property Paris region. appraiser.Appraisalsby independentpropertyappraisersmainly on

Investment property – by operating segment

4.1

31.12.2020

31.12.2019

Property

SCI units

Property

SCI units

Interna- tional

Interna- tional

Interna- tional

Interna- tional

France

Total

France

Total

France

Total

France

Total

(in millions of euros)

Gross value

1,213

14 1,227

52

52 1,049

14 1,063

52

52

Cumulative amortisation & impairment

(176)

(3)

(180)

(172)

(3)

(175)

Long-term impairment

(7)

(2)

(9)

(8)

(2)

(9)

Closing net value

1,030

9 1,038

52

52 870

9 878

52

52

Closing fair value of investment property UNREALISED CAPITAL GAINS (LOSSES)

2,519

19 2,538 155

155 2,417

23 2,440 149

149

1,489

10 1,500 102

102 1,548

14 1,562

97

97

177 Universal Registration Document 2020 - GROUPAMA ASSURANCES MUTUELLES