UNIVERSAL REGISTRATION DOCUMENT 2023

7 FINANCIAL STATEMENTS Combined financial statements and notes

7.1.2 COMBINED INCOME STATEMENT

31.12.2023

31.12.2022

(in millions of euros)

Insurance service income

Note 26

14,774

13,947

Insurance service expenses

Note 27

(13,764)

(13,549)

Insurance service result

1,010

399

Premiums allocated to reinsurers

(766)

(646)

Amounts received from reinsurers

632

957

Reinsurance result

(135)

311

Insurance service result net of reinsurance

875

709

Investment income

1,931

1,956

Investment expenses

(787)

(378)

Capital gains or losses from divestments net of impairment and depreciation write ‑ backs Change in fair value of financial instruments recorded at fair value through profit or loss

155

185

1,550

(2,490)

Change in impairment on investments

(347)

(26)

Investment income net of expenses

Note 29

2,501

(753)

Financial income or expenses from insurance contracts

(2,053)

708

Financial income or expenses from reinsurance contracts

18

0

Financial result from insurance and reinsurance contracts

Note 30

(2,036)

708

Total investment income net of expenses and financial result from insurance and reinsurance contracts

465

(45)

Other current operating income and expenses

Note 31

(528)

(504)

Current operating result

812

160

Total other non ‑ current operating income and expenses

Note 33

(72)

(37)

Operating result

740

123

Financing expenses

Note 34

(77)

(79)

Share of results of associates and joint ventures under the equity method

Note 10

5

7

Corporate income tax

Note 35

(152)

(3)

Net income from continuing operations

516

48

Net income from activities either discontinued or due to be discontinued

Note 3

(6)

(34)

OVERALL NET INCOME

510

13

of which, non ‑ controlling interests

(0)

OF WHICH, NET INCOME (GROUP SHARE)

510

13

The figures presented for 31 December 2022 are pro forma .

206

Universal Registration Document 2023 GROUPAMA ASSURANCES MUTUELLES