Groupama // 2021 Universal Registration Document

7 FINANCIAL STATEMENTS Combined financial statements and notes

Investment income net of management expenses 35.2 (income breakdown by type of asset)

31.12.2021

31.12.2020

Income and expenses

Proceeds of disposal *

Change in fair value

Change in reserves

Income and expenses

Proceeds of disposal *

Change in fair value

Change in reserves

Total

Total

(in millions of euros)

Property

19

112

(25)

106

10

184

(8)

185

Equities

32

41

30

(11)

92

30

80

(3)

(51)

56

Bonds

1,309

77

(7)

(1)

1,378 1,329

(5)

(17)

(9)

1,298

Equity mutual funds

125

118

121

(1)

363

113

54

(4)

162

Mutual funds: Cash from repurchase agreements

(21)

(1)

(22)

(16)

(16)

Other cash mutual funds

1

(9)

(2)

(11)

1

(7)

(7)

Bond mutual funds

61

16

(6)

71

61

6

69

(1)

136

Derivatives

12

12

81

81

Other investment income

290

54

(11)

(4)

329

163

11

20

(1)

192

Investment income

1,836

389

142

(48)

2,318 1,708

306

145

(71)

2,087

Internal and external management expenses and expenses on financial instruments

(359)

(359)

(242)

(242)

Other investment expenses

(47)

(47)

(75)

(75)

Investment expenses

(406)

(406)

(317)

(317)

Financial income net of expenses

1,430

389

142

(48)

1,912 1,391

306

145

(71)

1,770

Capital gains on securities representing unit-linked policies Capital losses on securities representing unit-linked policies Adjustments on unit-linked policies

1,412

1,412

1,769

1,769

(121)

(121)

(1,489)

(1,489)

1,291

1,291

279

279

TOTAL

1,430

389 1,433

(48)

3,203 1,391

306

424

(71)

2,049

Net of write-back of impairment and amortisation. *

228

Universal Registration Document 2021 - GROUPAMA ASSURANCES MUTUELLES