GROUPAMA / 2020 UNIVERSAL REGISTRATION DOCUMENT

7 FINANCIAL STATEMENTS Consolidated financial statements and notes

Investment income net of management expenses 35.2.1 (income breakdown by type of asset) – France

31.12.2020

31.12.2019

Income and expenses

Income and expenses

Change in fair value

Change in reserves

Proceeds of disposal*

Change in fair value

Change in reserves

Proceeds of disposal*

Total

Total

(in millions of euros)

Property

34

165

(9)

190

36

550

2

589

Equities

25

75

(3)

(39)

58

90

43

133

Bonds

1,114

(5)

(17)

1,091 1,130

35

7

1,172

83

15

(18)

79

121

7

(37)

90

Equity mutual funds

Mutual funds: Cash from repurchase agreements

(16)

(17)

(13)

(3)

(16)

Other cash mutual funds

(7)

(7)

(6)

(7)

Bond mutual funds

42

(4)

52

90

36

(35)

56

(1)

56

Derivatives

81

81

(25)

(25)

Other investment income

134

11

27

(1)

171

170

5

(48)

127

Investment income

1,431

234

121

(49)

1,736 1,582

586

(50)

1 2,119

Internal and external management expenses and expenses on financial instruments

(212)

(212)

(284)

(284)

Other investment expenses

(52)

(52)

(39)

(39)

Investment expenses

(264)

(264)

(322)

(322)

Financial income net of expenses

1,166

234

121

(49)

1,472 1,260

586

(50)

1 1,796

Capital gains on securities representing unit-linked policies Capital losses on securities representing unit-linked policies Adjustments on unit-linked policies

1,731

1,731

1,500

1,500

(1,450)

(1,450)

(76)

(76)

281

281

1,424

1,424

TOTAL

1,166

234

402

(49)

1,753 1,260

586 1,373

1 3,220

Net of write-back of impairment and amortisation. *

227

Universal Registration Document 2020 - GROUPAMA ASSURANCES MUTUELLES