Groupama // 2021 Universal Registration Document

7 FINANCIAL STATEMENTS Combined financial statements and notes

31.12.2020

France

International

Total

Property and casualty insurance

Property and casualty insurance

Life and health insurance

Financial sector business

Life and health insurance

Holding company

Holding company

Total

Total

(in millions of euros)

Earned premiums

5,722 6,365

12,086 1,457

696

2,153 14,239

Net banking income, net of cost of risk

162

162

162

Investment income

211 1,621

(16)

1,816

105

115

3

223 2,039

Investment expenses

(105)

(514)

27 (592)

(44)

(20)

(64)

(657)

Capital gains or losses from divestments net of impairment and depreciation write-backs

51

267

(19)

299

(1)

7

7

306

Change in fair value of financial instruments recorded at fair value through income

12

389

23

424

(1)

2

1

424

Change in impairment on investments

(9)

(34)

(11)

(54)

(8)

(1)

(9)

(63)

Total income from ordinary business activities

5,882 8,094

162

4 14,141 1,509

798

3 2,309 16,451

Insurance policy servicing expenses

(4,147)

(6,591)

(10,739)

(984)

(629)

(1,614) (12,352)

Income on outward reinsurance

364

91

455

32

2

34

490

Expenses on outward reinsurance

(339)

(118)

(458)

(52)

(3)

(56)

(513)

Operating expenses for financial sector businesses

(107)

(107)

(107)

Policy acquisition costs

(929)

(619)

(1,548)

(320)

(95)

(416)

(1,964)

Administrative costs

(217)

(164)

(382)

(86)

(37)

(123)

(505)

Other current operating income and expenses

(333)

(274)

4 (148)

(751)

(102)

(19)

(1)

(122)

(873)

CURRENT OPERATING INCOME

279

418

59 (144)

612

(4)

16

1

13

626

Other operating income and expenses

(66)

(29)

71

(23)

(102)

(21)

(123)

(146)

OPERATING INCOME

213

389

60

(73)

590 (106)

(5)

1 (110)

480

Financing expenses

(5)

(1)

(69)

(75)

(1)

(2)

(77)

Share of results of associates and joint ventures under the equity method

(50)

(50)

(10)

(10)

(60)

Corporate income tax

(90)

(144)

(17)

86 (166)

1

1 (165)

NET INCOME FROM CONTINUING OPERATIONS Net income from activities either discontinued or due to be discontinued OVERALL NET INCOME

118

244

(8)

(56)

299 (116)

(6)

1 (121)

178

118

244

(8)

(56)

299 (116)

(6)

1 (121)

178

of which, non-controlling interests

1

1

1

OF WHICH, NET INCOME (GROUP SHARE)

118

244

(8)

(56)

298 (116)

(6)

1 (121)

177

171 Universal Registration Document 2021 - GROUPAMA ASSURANCES MUTUELLES