GROUPAMA / 2020 UNIVERSAL REGISTRATION DOCUMENT

7 FINANCIAL STATEMENTS Consolidated financial statements and notes

Change in non-life outstanding claims reserve 25.4

31.12.2020

31.12.2019

France International

Total

France International

Total

(in millions of euros)

Opening reserves for non-life claims

6,713

2,202

8,915

6,517

2,079

8,596

Portfolio transfers

(96)

1

(95)

Claims expense for the current year

3,932

1,031

4,964

3,951

1,316

5,267

Claims expense for prior years

154

72

226

(76)

68

(8)

Total claims expense

4,086

1,104

5,190

3,875

1,384

5,259

Claims payments for the current year

(1,679)

(502)

(2,181)

(1,746)

(599)

(2,344)

Claims payments for prior years

(2,037)

(618)

(2,656)

(1,838)

(636)

(2,474)

Total payments

(3,717)

(1,120)

(4,836)

(3,584)

(1,235)

(4,818)

Foreign exchange variation

(69)

(70)

(26)

(26)

CLOSING RESERVES FOR NON-LIFE CLAIMS

7,082

2,117

9,199

6,713

2,202

8,915

Impact of gross claims 25.5

2016

2017

2018

2019

2020

(in millions of euros)

Estimate of the claims expense End N

4,901

4,950

4,926

5,205

4,949

End N+1

4,842

5,059

4,976

5,295

End N+2

4,786

4,953

4,990

End N+3

4,723

4,935

End N+4

4,580

Claims expense

4,580

4,935

4,990

5,295

4,949

Cumulative claims payments

4,124

4,172

4,012

3,952

2,170

Outstanding claims reserves

456

763

978

1,343

2,779

Earned premiums

6,374

6,604

6,860

7,122

6,883

LOSS RATIO

71.9%

74.7%

72.7%

74.4%

71.9%

The statement of claim trends shows changes in estimates of the gross claims expense per year of occurrence covering the years 2016 to 2020, i.e. changes in the initial estimates and discounted expense as at the balance sheet date.

The reserve per year of occurrence is calculated as the difference between the estimated claim expense (revalued as at the balance sheet date) and the cumulative payments made.

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Universal Registration Document 2020 - GROUPAMA ASSURANCES MUTUELLES