Groupama // 2021 Universal Registration Document

7 FINANCIAL STATEMENTS Combined financial statements and notes

Commitments given and received Note 47

31.12.2021

31.12.2020

(in millions of euros)

Endorsements, securities, and guarantees received

14

20

Other commitments received

570

583

Total commitments received, excluding reinsurance

585

603

Reinsurance commitments received

780

577

Endorsements, securities and guarantees given

4,640

4,558

Other commitments for securities, assets or income

1,597

1,321

Other commitments given

1,920

1,964

Total commitments given excluding reinsurance

8,157

7,844

Reinsurance commitments given

509

476

Securities belonging to protection institutions Other securities held on behalf of third parties

Other commitments received excluding reinsurance amounted to €570 million at 31 December 2021 and consisted mainly of securities received as collateral under the collateralisation mechanism set up to guarantee unrealised bond lending for €520 million and, to a lesser extent, to guarantee unrealised capital gains on derivatives for €35 million. Endorsements, securities and guarantees given totalled €4,640 million, consisting largely of the following major transactions: €245 million in guarantees on the reinsurance and ❯ co-reinsurance obligations of the Group’s subsidiaries; pledged securities worth €4,336 million for life insurance policies. ❯ Other commitments on securities, assets, or income consist of subscriptions to venture capital funds (“FCPR”). The remaining €1,597 million corresponds to the difference between the investment commitment of the subscribers and the total of calls for funds actually received. Other commitments given amounted to €1,920 million. They consist mainly of the following items: securities given as collateral under the collateralisation ❯ mechanism put in place to guarantee unrealised capital gains or losses on derivatives are also recorded as off-balance-sheet commitments, reflected in the financial statements as €540 million of commitments given in respect of hedging unrealised capital losses on derivatives;

provisional sales agreements of €16 million, mainly at the ❯ subsidiary SCI Gan Foncier; commitments of €483 million relating to bond loans in the ❯ subsidiary Groupama Gan Vie; commitments given for property work orders for €644 million; ❯ as part of the issue of mutual certificates, the general meetings of ❯ the regional mutuals voted to authorise a €655 million issue. At 31 December 2021, €13 million of the authorised issue remained to be issued by the regional mutuals. Furthermore, it is advisable to note the maximum amount of mutual certificates able to be bought is set at 10% of the total mutual certificates. Commitments given in respect of reinsurance totalled €509 million and mainly comprised securities given as pledges under reinsurance treaties. UNVALUED COMMITMENTS Groupama Holding Filiales et Participations, in its capacity as main shareholder, undertakes to give Cofintex 6 the financial support necessary for the normal continuation of its business, in accordance with the notion of continuity of operations. TRIGGER CLAUSES Groupama Assurances Mutuelles benefits from “trigger” clauses on the payment of interest on its four redeemable subordinated instrument (TSR) debt issues. It must therefore defer the payment of interest in the event of a regulatory deficiency in accordance with the provisions of the Solvency II Directive. Deferred interest will be interest arrears.

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Universal Registration Document 2021 - GROUPAMA ASSURANCES MUTUELLES