GROUPAMA / 2020 UNIVERSAL REGISTRATION DOCUMENT

7 FINANCIAL STATEMENTS Annual financial statements and notes

Technical reserves of non-life insurance Note 11

Breakdown of gross technical reserves

11.1

31.12.2020

31.12.2019

Inward reinsurance from regional mutuals

Inward reinsurance from regional mutuals

Pool and CDA (1)

Pool and CDA (1)

Other inward reinsurance

Other inward reinsurance

Total

Total

(in thousands of euros)

Reserves for unearned premiums

11,039 228,254 146,976 386,269 11,236 201,263 147,483 359,982

Reserves for claims

198,464 3,606,065 1,287,035 5,091,564 228,864 3,197,979 1,292,569 4,719,412

Reserves for profit sharing

1,364

414 1,778

244

244

Equalisation reserves

2,496 113,004 45,060 160,560 2,607 87,170 49,833 139,610

Other technical reserves

64,724 1,006,523 97,509 1,168,756 66,846 972,626 100,271 1,139,742

TOTAL

276,723 4,955,210 1,576,994 6,808,927 309,553 4,459,038 1,590,400 6,358,990

Including technical reserves relatedto contracts written by the Antilles-Guyane regional mutueaxl empt from licensing. (1)

determined based on experience data from the long-term care portfolio – law on long-term care – and a technical rate of 0.04% (75% TME). Actuarial reserves for increasing risks, covering future claims (likely current value of the insurer’s and policyholders’ commitments), have been determined on the basis of experience data on the long-term care portfolio – rate of beneficiary deaths, differentiated impact per product and continued long-term care – and a technical rate of 0.90% intended to reflect the current financial environment. An annual test of sufficiency of long-term care reserves is conducted. In particular, it includes any anticipations of price revisions. EQUALISATION RESERVES Groupama Assurances Mutuelles recorded an allocation to equalisation reserves of €20.3 millionas of 31 December2020 as well as a stability fund reserve allocation of €0.7 million.

MEASUREMENT OF RESERVES FOR NON-REPORTED AND LATE CLAIMS (IBNR) Outstandingclaims reservestotalled€5,091 millionat 31 December 2020. These reserves are valued using an actuarial approach, defined in accordance with a Group methodology. By means of valuations of final costs based on payment or cost triangles (depending on the risk segment), this method determines the sufficient amount of outstanding claims reserve. This valuation includes the valuationof delinquentclaims and expectedrecoveries in its approach. Total reserves relating to long-termcare risk were €403.7 millionat 31 December 2020 (of which €278.8 million is the reserve for increasing risks). The actuarial reserves for annuities in service and outstanding claims reserve, covering outstanding claims, were LONG-TERM CARE

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Universal Registration Document 2020 - GROUPAMA ASSURANCES MUTUELLES