GROUPAMA / 2020 UNIVERSAL REGISTRATION DOCUMENT

7 FINANCIAL STATEMENTS Consolidated financial statements and notes

Technical liabilities related to financial contracts Note 26

31.12.2020

31.12.2019

(in millions of euros)

Reserves on financial contracts with discretionary profit sharing Life technical reserves

11,128

11,653

Reserves for unit-linked contracts

62

64

Outstanding claims reserves

118

104

Reserves for profit sharing

231

239

Other technical reserves Total

11,539

12,061

Reserves on financial contractswithout discretionary profit sharing Life technical reserve Reserves for unit-linked contracts

167

165

Outstanding claims reserves

1

1

Reserves for profit sharing Other technical reserves Total

168

166

TOTAL

11,706

12,227

Liabilities related to financial contracts (excluding unit-linked items) – 26.1 by operating segment

31.12.2020

31.12.2019

France

International

Total

France

International

Total

(in millions of euros)

Life financial contract reserves

9,141

1,987

11,128

9,721

1,932

11,653

Outstanding claims reserves

103

16

118

92

12

105

Profit-sharing reserves

231

231

239

239

Other technical reserves TOTAL

9,474

2,003

11,477

10,053

1,945

11,997

The conversionwithout forfeiting tax benefits of euro single-vehiclefinancial policies into multi-vehicle insurance policies is carried out by transferring the amountsof actuarial reserves. This conversionhad no impact on the recognitionof premiumincome. The amounts involved in this “Fourgous” conversion totalled€99 million at 31 December 2020.

217 Universal Registration Document 2020 - GROUPAMA ASSURANCES MUTUELLES