GROUPAMA / 2020 UNIVERSAL REGISTRATION DOCUMENT

7 FINANCIAL STATEMENTS Consolidated financial statements and notes

Change in post-employment benefits recognised through net income and 23.3 profits/losses recognised directly through Group’s equity

31.12.2020

31.12.2019

(in millions of euros)

Cost of services:

Cost of past services

(9)

(11)

Cost of past services and profit/loss on liquidation Net interest on net actuarial debt

(1)

(2)

Other COMPONENT OF THE EXPENSE RECOGNISED IN THE INCOME STATEMENT Revaluation of net actuarial debt: Portion of return on hedging assets not recognised in the income statement

(9)

(13)

20

32

Actuarial differences resulting from changes in demographic assumptions

(2)

4

Actuarial differences resulting from changes in financial assumptions

(28)

(38)

Experience-related adjustments

5

7

Change in effect of asset cap COMPONENT OF THE EXPENSE RECOGNISED THROUGH PROFIT/LOSSES POSTED DIRECTLY UNDER GROUP’S EQUITY

(5)

4

Information pertaining to personnel benefits – distribution of hedging assets 23.4

31.12.2020

31.12.2019

(in millions of euros)

Equities

78

60

Bonds Other

321

344

FAIR VALUE OF HEDGING ASSETS

400

404

Sensitivity analysis 23.5 The sensitivityto an increaseof 50 basispoints in the discount rate is -6.2%on the total gross actuarialdebt for France, and -7.6%for the United Kingdom.

Sensitivity to social commitments in relation to illness cover: at 31 December 2020, actuarial debt for illness cover amounted to €11 million. The sensitivity of this debt to an increase of 50 basis points in the discount rate is -5.1%.

210

Universal Registration Document 2020 - GROUPAMA ASSURANCES MUTUELLES