GROUPAMA / 2020 UNIVERSAL REGISTRATION DOCUMENT

1 OVERVIEW OF THE GROUP Key figures

TIES BETWEEN THE VARIOUS

1.2.3

Relations betweenthe regionalmutualsand GroupamaAssurances Mutuelles are governed by: an internal reinsuranceagreementbetween the regional mutuals ❯ and GroupamaAssurancesMutuelleswith terms updated every year; a security and solidarity agreement between all the regional ❯ mutuals and Groupama Assurances Mutuelles (“agreement defining the securityand solidaritymechanismsof the Caissesde Réassurance Mutuelle Agricole”). This agreement is described in more detail in Note 45 – Related Parties – to the consolidated financial statements and is the subject of a special report from the statutory auditors on regulated agreements and commitments (see section 3.7).

GROUP ENTITIES

The subsidiaries are bound by capital ties. Subsidiaries indirectly and directly owned by Groupama Assurances Mutuelles are included in its consolidatedaccounts.Moreover, in exchange for a certain degree of operational autonomy, each of the subsidiariesis subject to the requirements and obligations defined by the GroupamaAssurancesMutuelles environment,particularly in terms of control.

1.3

KEY FIGURES

CONSOLIDATED SCOPE OF GROUPAMA ASSURANCES MUTUELLES

1.3.1

The following table shows financial disclosuresand ratios from the consolidated financial statements of Groupama Assurances Groupama Assurances Mutuelles consolidated accounts for the Mutuelles have been prepared in accordance with the IFRS as fiscal years ended 31 December 2018, 2019, and 2020. In adopted by the European Union.

accordancewith EC Regulation no 1606/2002of 19 July 2002 on the application of international financial reporting standards, the

2020

2019

2018

(in millions of euros)

10,628

10,658

10,649

Premium income/revenue (1)

of which France insurance

8,190

8,129

7,939

of which International insurance

2,245

2,357

2,537

of which financial and banking businesses

193

172

173

Combined non-life ratio (2)

99.8%

98.5%

100.1%

Economic operating income (3)

185

234

182

Net income, group share

49

104

319

Financial structure and soundness Group's equity

6,356

6,076

5,274

TOTAL BALANCE SHEET

95,035

93,571

88,506

Insurance premiums written and income fromfinancial businesses. (1) See glossary in this universal registration document (page 335). (2) Economic operating income equals net income adjusted foreralised capital gains and losses, long-term impairmenintcreases (3) capital gains and losses on financial assets recognised at fair value (aslluch items are net of profit sharing and corporate tax). Alsaodjusted are non-recurring items net of tax, impairment of value of business in force and impairment of goodwill (net otafx). and write-backs, and unrealised

8 Universal Registration Document 2020 - GROUPAMA ASSURANCES MUTUELLES