GROUPAMA / 2020 UNIVERSAL REGISTRATION DOCUMENT

7 FINANCIAL STATEMENTS Consolidated financial statements and notes

Investments in related companies and joint ventures Note 10

Compagnie Financière d’Orange Bank, 75.86%-held by Orange and 24.14%-heldby the Groupamagroup, is the holding company that holds Orange Bank, a 100% mobile online bank. The key figures for these various companies are provided in the table below.

The Group holds a number of stakes in the following insurance companies: STAR in Tunisia, a leader in the insurance market in Tunisia, ❯ jointly owned with the Tunisian government; GroupamaAVIC Property Insurance Co is the result of the joint ❯ venture betweenGroupamaand the AVIC group. This company sells non-life insurance products in the People’s Republic of China.

31.12.2020

31.12.2019

Equivalent value Share of income Equivalent value Share of income

(in millions of euros)

110

(50)

155

(63)

Orange Bank

STAR

82

2

69

3

Groupama – AVIC Property Insurance Co.

62

(11)

75

(4)

Compagnie Financière d’Orange Bank TOTAL

254

(60)

299

(64)

10.1

Significant data pursuant to IFRS 12

2020

Technical reserves

Shareholders’ equity

Total assets

Premium income

Net income

(in millions of euros)

STAR (2)

112

3

243

388

113

300

(17)

152

389

123

Groupama – AVIC Property Insurance Co. (2)

Orange Bank (1)

(178)

4,327

351

Compagnie Financière d’Orange Bank (1)

(210)

421

411

Actual data. (1) Actual 2019 data on technicarleserves, total assets, and shareholders’ equity/Estimated 202d0ata (2)

for premium income and the result.

2019

Shareholders’ equity

Technical reserves

Premium income

Net income

Total assets

(in millions of euros)

Banque Postale Assurances IARD (3) STAR (2)

114

5

221

348

111

287

2

149

356

143

Groupama – AVIC Property Insurance Co. (1)

Orange Bank (1)

(177)

4,775

332

Compagnie Financière d’Orange Bank (1)

(287)

432

424

Actual data. (1) Estimated data for income andearnings / Actual data at December 2018 for the balance sheet. (2) As per IFRS 5, La Banque Postale Assurances IARD is classed as a business due to be discontinued (3)

The Group has chosen to opt for the temporary exemption from consolidate their related companies using the equity method to the rule on uniformity of accountingpolicies ordinarily required by preserve the financial statements prepared by such related IAS 28 and provided for in paragraph 20O (b) of the amendment companies for the purposes of producing their consolidated to IFRS 4 “ApplyingIFRS 9 – Financial Instruments with IFRS 4 – financial statements.This option concerns the financial statements Insurance Contracts”. This amendment allows insurance groups used in applicationof the equity method on related companiesof that have elected to defer application of IFRS 9, and that Orange Bank (which has applied IFRS 9 since 1 January 2018).

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Universal Registration Document 2020 - GROUPAMA ASSURANCES MUTUELLES