Groupama // 2021 Universal Registration Document

7 FINANCIAL STATEMENTS Annual financial statements and notes

Reserves (other than underwriting) Note 12

Amount of reserves at 31.12.2020

Increase in reserves during the fiscal year

Write-backs for the year

Amount of reserves at 31.12.2021

(in thousands of euros)

Regulatory reserves

34

85

34

85

Reserves for pensions and similar obligations

48,673

20,091

48,673

20,091

Tax reserves Other contingent liabilities reserves

38,457

18,290

30,196

26,551

Other reserves for charges

4,800

4,400

5,261

3,939

TOTAL

91,964

42,866

84,164

50,666

The “reserve (other than underwriting)” item included in liabilities of the balance sheet as at 31 December 2021 for €50.6 million particularly includes reserves for pension and similar commitments, which includes a reserve related to pension commitments for employees and former employees of absorbed subsidiaries (SMDA).

However, a significant part of the end-of-career benefit commitments for Groupama Assurances Mutuelles employees is outsourced mainly to Groupama Gan Vie. Non-covered retirement obligations are provisioned in a reserve for retirement commitments.

Liabilities Note 13

31.12.2021

31.12.2020

Maturity:

Maturity:

< 1 year

1 to 5 years > 5 years

Total

< 1 year

1 to 5 years > 5 years

Total

(in thousands of euros)

Other liabilities Debts arising from direct insurance operations:

3,050

3,050 2,840

75

2,915

Policyholders

2

2

72

72

Insurance intermediaries Co-insurers

3,047

3,047 2,768

75

2,843

Other third parties Debts relating to reinsurance transactions:

313,789

54,163

6 367,957 292,714

54,203

394 347,310

Reinsurers

163,943

52,466

6 216,415 140,865

54,149

378 195,392

Ceding entities

149,845

1,697

151,542 151,848

54

15 151,918

Other intermediaries Bonds (including convertible bonds)

27,975

109,162

137,137 22,309

113,662

135,971

Debt to credit institutions Other liabilities:

402,199

402,199 420,603

420,603

Other loans, deposits and guarantees received Personnel, Social Security organisations and local authorities

116,816

116,816 185,421

185,421

47,216

47,216 45,963

45,963

Government, Social Security

63,882

63,882 37,525

37,525

Other creditors

174,285

174,285 151,694

151,694

TOTAL

747,012

163,325

6 910,343 738,465

167,939

394 906,799

291

Universal Registration Document 2021 - GROUPAMA ASSURANCES MUTUELLES