GROUPAMA / 2020 UNIVERSAL REGISTRATION DOCUMENT

7 FINANCIAL STATEMENTS Consolidated financial statements and notes

Deferred profit sharing liabilities Note 28

31.12.2020

31.12.2019

France

International

Total

France

International

Total

(in millions of euros)

Reserve for deferred profit sharing of insurance policies Reserve for deferred profit sharing of financial contracts

5,856

9

5,865

5,369

11

5,380

137

137

115

115

TOTAL

5,856

145

6,002

5,369

126

5,494

The rate of deferred profit sharing is determined entity by entity (based on regulatory requirements). It is based on the real rate of sharing of investment income between policyholders and shareholders and corresponds to the average real rates over the past three years. This average prevents the inclusion of non-recurring, atypical factors in the calculation.

In the particular case of Groupama Gan Vie, the deferred profit-sharing rate is determined using a prospective sharing rate method based on three-year business plans. The rates used in France at 31 December2020 fall within a range of 73.61% to 85.64%, with 76.02% for Groupama Gan Vie.

Debts arising from insurance or inward reinsurance transactions Note 29

31.12.2020

31.12.2019

Total

< 1 year 1 to 5 years > 5 years

Total

< 1 year 1 to 5 years > 5 years

(in millions of euros)

Policyholders, intermediaries, and other third parties

865

865

694

1

695

Co-insurers

48

48

50

50

Current accounts for ceding and retroceding companies and other liabilities from reinsurance transactions

181

181

81

4

85

TOTAL

1,094

1,094

826

5

831

Debts arising from outward reinsurance transactions Note 30

31.12.2020

31.12.2019

< 1 year 1 to 5 years > 5 years

Total

Total

< 1 year 1 to 5 years > 5 years

(in millions of euros)

Outward reinsurer and retrocessionaire current accounts (1)

269

2

2

273

215

59

274

Other liabilities from reinsurance activities

113

113

79

79

TOTAL

383

2

2

386

293

59

352

Including cash deposits received from reinsurers. (1)

219

Universal Registration Document 2020 - GROUPAMA ASSURANCES MUTUELLES