Groupama // 2021 Universal Registration Document

7 FINANCIAL STATEMENTS Combined financial statements and notes

Change in post-employment benefits recognised through net income and 24.3 profits/losses recognised directly through Group's equity

31.12.2021

31.12.2020

(in millions of euros)

Cost of services:

Cost of past services

(17)

(17)

Cost of past services and profit/loss on liquidation

(1)

Net interest on net actuarial debt

(1)

(2)

Other COMPONENT OF THE EXPENSE RECOGNISED IN THE INCOME STATEMENT Revaluation of net actuarial debt: Portion of return on hedging assets not recognised in the income statement

(19)

(19)

20

Actuarial differences resulting from changes in demographic assumptions

(1)

Actuarial differences resulting from changes in financial assumptions

7

(32)

Experience-related adjustments

4

8

Change in effect of asset cap COMPONENT OF THE EXPENSE RECOGNISED THROUGH PROFIT/LOSSES POSTED DIRECTLY UNDER GROUP'S EQUITY

11

(4)

Information pertaining to personnel benefits ‒ distribution of hedging assets 24.4

31.12.2021

31.12.2020

(in millions of euros)

Equities

66

78

Bonds Other

418

321

FAIR VALUE OF HEDGING ASSETS

484

400

Sensitivity analysis 24.5 The sensitivity to an increase of 50 basis points in the discount rate is -6.1% on the total gross actuarial debt for France, and -7.1% for the United Kingdom.

Sensitivity to social commitments in relation to illness cover: at 31 December 2021, actuarial debt for illness cover amounted to €10 million. The sensitivity of this debt to an increase of 50 basis points in the discount rate is -4.8%.

213

Universal Registration Document 2021 - GROUPAMA ASSURANCES MUTUELLES