Groupama // 2021 Universal Registration Document

7 FINANCIAL STATEMENTS Combined financial statements and notes

Investment income net of management expenses 35.2.1 (income breakdown by type of asset) ‒ France

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

24

112

(25)

111

22

183

(8)

197

Equities

31

38

30

(11)

88

30

80

(3)

(43)

64

Bonds

1,177

79

(7)

(1)

1,248

1,176

(1)

(15)

(9)

1,150

Equity mutual funds

118

102

92

312

98

43

(15)

126

Mutual funds: Cash from repurchase agreements

(21)

(1)

(22)

(16)

(16)

Other cash mutual funds

(8)

(1)

(9)

(7)

(7)

Bond mutual funds

57

16

(5)

68

56

6

69

131

Derivatives

12

12

81

81

Other investment income

246

49

(2)

(4)

288

139

11

27

(1)

175

Investment income

1,653

367

123

(47)

2,096

1,521

299

143

(63)

1,900

Internal and external management expenses and expenses on financial instruments

(350)

(350)

(233)

(233)

Other investment expenses

(14)

(14)

(56)

(56)

Investment expenses

(364)

(364)

(289)

(289)

Financial income net of expenses

1,289

367

123

(47)

1,731

1,232

299

143

(63)

1,612

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

1,332

1,332

1,731

1,731

(96)

(96)

(1,450)

(1,450)

1,236

1,236

281

281

TOTAL

1,289

367 1,359

(47)

2,968

1,232

299

424

(63)

1,893

Net of write-back of impairment and amortisation. *

229

Universal Registration Document 2021 - GROUPAMA ASSURANCES MUTUELLES