Groupama // 2021 Universal Registration Document

7 FINANCIAL STATEMENTS Annual financial statements and notes

Change over the past five years in claims regulations applied since its inception 11.2 and the outstanding claims reserve CHANGE IN ACCRUED PREMIUMS AND CLAIMS The data presented below correspond to changes in the following portfolios: inward reinsurance from regional mutuals; ❯ run-off businesses; ❯ other inward reinsurance. ❯

Fiscal years

2016 and earlier

2017

2018

2019

2020

2021

(in thousands of euros)

Estimate of the claims expense: at end of N

26,506,788 1,927,798 1,942,129 2,048,813 2,081,589 2,007,338

at end of N+1

26,498,610 1,992,447 1,906,304 2,047,770 2,079,698

at end of N+2

26,303,680 1,990,564 1,935,581 2,019,505

at end of N+3

26,289,073 2,006,294 1,906,367

at end of N+4

26,301,299 1,984,876

at end of N+5

26,228,803

Claims expense (a)

26,228,803 1,984,876 1,906,367 2,019,505 2,079,698 2,007,338

Cumulative claims payments (b)

24,515,851 1,574,211 1,427,802 1,498,991 1,305,272

716,353

Outstanding claims reserves (a)-(b)=(c) (net of the retained share of the CDA)

1,712,952

410,665

478,564

520,514

774,426 1,290,985

Earned premiums

33,106,544 2,665,404 2,693,489 2,775,019 2,686,840 2,758,017

LOSS RATIO

79.23% 74.47% 70.78% 72.77% 77.40% 72.78%

11.3 Liquidation of claims reserves gross of reinsurance

Change in opening claims reserves

2021

2020

in thousands of euros

Opening claims reserves net of expected recoveries

5,006,462

4,627,298

Payments made during the year for previous years net of expected recoveries

(924,793)

(936,923)

Closing claims reserves net of expected recoveries

(3,884,124)

(3,705,948)

SURPLUS/DEFICIT

197,545

(15,573)

The opening surplus posted in 2021 on claims reserves totalled surplus on the inward reinsurance portfolio of the subsidiaries and +€197.5 million. It is primarily made up of a surplus on the profit centres for +€96.9 million. accepted risks of the regional mutuals for +97,2 million and a

290

Universal Registration Document 2021 - GROUPAMA ASSURANCES MUTUELLES