Groupama // 2021 Universal Registration Document
7 FINANCIAL STATEMENTS Combined financial statements and notes
Change in non-life outstanding claims reserves 26.4
31.12.2021
31.12.2020
France International
Total
France International
Total
(in millions of euros)
Opening reserves for non-life claims
10,501
2,117
12,618
9,891
2,202
12,093
Portfolio transfers, changes in scope of consolidation, and other movements
14
14
Claims expense for the current year
7,124
1,148
8,272
6,850
1,031
7,881
Claims expense for prior years
(114)
(92)
(206)
105
72
177
Total claims expense
7,010
1,056
8,066
6,955
1,104
8,059
Claims payments for the current year
(3,235)
(516)
(3,751)
(3,126)
(502)
(3,628)
Claims payments for prior years
(3,278)
(533)
(3,811)
(3,219)
(618)
(3,837)
Total payments
(6,513)
(1,049)
(7,562)
(6,345)
(1,120)
(7,464)
Foreign exchange variation
(81)
(81)
(69)
(70)
CLOSING RESERVES FOR NON-LIFE CLAIMS
10,998
2,057
13,055
10,501
2,117
12,618
Impact of gross claims 26.5
2017
2018
2019
2020
2021
(in millions of euros)
Estimate of the claims expense End N
7,664
7,769
8,065
7,826
8,226
End N+1
7,823
7,782
8,189
7,801
End N+2
7,683
7,796
8,123
End N+3
7,663
7,737
End N+4
7,574
Claims expense
7,574
7,737
8,123
7,801
8,226
Cumulative claims payments
6,858
6,667
6,812
5,825
3,722
Outstanding claims reserves
716
1,070
1,311
1,975
4,504
Earned premiums
9,818
10,158
10,453
10,434
10,622
LOSS RATIO
77.1%
76.2%
77.7%
74.8%
77.4%
The statement of claim trends shows changes in estimates of the gross claims expense per year of occurrence covering the years 2017 to 2021, i.e. changes in the initial estimates and discounted expense as at the balance sheet date.
The reserve per year of occurrence is calculated as the difference between the estimated claim expense (revalued as at the balance sheet date) and the cumulative payments made.
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Universal Registration Document 2021 - GROUPAMA ASSURANCES MUTUELLES
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