GROUPAMA / 2020 UNIVERSAL REGISTRATION DOCUMENT

7 FINANCIAL STATEMENTS Annual financial statements and notes

Reserves (other than underwriting) Note 12

Amount of reserves at 31.12.2019

Increase in reserves during the fiscal year allocations for the year

Write-backs for the year

Amount of reserves at 31.12.2020

(in thousands of euros)

Regulatory reserves Reserves for pensions and similar obligations

42,121

48,673

42,121

48,673

Tax reserves Other contingent liabilities reserves

23,828

19,560

4,897

38,491

Other reserves for charges

4,800

4,800

TOTAL

65,949

73,033

47,018

91,964

However, a significant part of the end-of-career benefit commitments for Groupama Assurances Mutuelles employees is outsourcedmainly to GroupamaGan Vie. Non-coveredretirement obligations are provisioned in a reserve for retirement commitments.

The “reserve (other than underwriting)”item included in liabilities of the balance sheet as at 31 December 2020 for €91.9 million particularly includes reserves for pension and similar commitments, which includes a reserve related to pension commitments for employees and former employees of absorbed subsidiaries (SMDA).

Liabilities Note 13

31.12.2020

31.12.2019

Maturity

Maturity

Total

< 1 year 1 to 5 years > 5 years

Total

< 1 year 1 to 5 years > 5 years

(in thousands of euros)

Other debt Debts arising from direct insurance operations:

2,840

75

2,915 3,019

75

3,094

Policyholders

72

72

77

77

Insurance intermediaries Co-insurers

2,768

75

2,843 2,943

75

3,017

Other third parties Debts relating to reinsurance transactions:

292,714 54,203

394 347,310 148,782 59,366

32 208,180

Reinsurers

140,865 54,149

378 195,392 98,365 55,752

154,117

Ceding entities

151,848

54

15 151,918 50,417 3,614

32 54,063

Other intermediaries Bonds (including convertible bonds)

22,309 113,662

135,971 481,989 113,662

595,651

Debt to credit institutions Other liabilities:

420,603

420,603 989,752

989,752

Other loans, deposits and guarantees received Personnel, Social Security organisations and local authorities

185,421

185,421 729,415

729,415

45,963

45,963 39,413

39,413

Government, Social Security

37,525

37,525 63,561

63,561

Other creditors

151,694

151,694 157,363

157,363

TOTAL

738,465 167,939

394 906,799 1,623,542 173,103

32 1,796,678

296

Universal Registration Document 2020 - GROUPAMA ASSURANCES MUTUELLES