UNIVERSAL REGISTRATION DOCUMENT 2023

7 FINANCIAL STATEMENTS Combined financial statements and notes

Note 28 Comprehensive financial result

31.12.2023

31.12.2022

(in millions of euros)

Investment income net of management expenses

2,501

(753)

Financial result from insurance contracts issued

(2,053)

708

Financial result from reinsurance contracts held

18

0

Financial result from insurance and reinsurance contracts and assets recognised in other comprehensive income (OCI)

555

(165)

TOTAL

1,021

(210)

The figures presented for 31 December 2022 are pro forma .

Note 29 Investment income net of management expenses

31.12.2023

31.12.2022

(in millions of euros)

Interest income

1,477

1,403

Dividends

255

221

Gains on foreign exchange transactions

36

72

Income from property

123

121

Income from derivatives

50

46

Other investment income

(11)

93

Investment income

1,931

1,956

Interest received from reinsurer deposits

(4)

(2)

Losses on foreign exchange transactions

(38)

(105)

Property depreciation

(110)

(98)

Expenses on derivatives

(396)

(85)

Management expenses

(108)

(93)

Other investment expenses

(131)

6

Investment expenses

(787)

(378)

Capital gains (losses) from sales of investments, net of impairment reversals and write ‑ backs Change in fair value of financial instruments recorded at fair value by income

155

185

1,550

(2,490)

Change in impairment on assets measured at fair value through equity (recyclable)

(12)

(21)

Change in impairment on assets measured at amortised cost

0

0

Other

(335)

(5)

Change in impairment

(347)

(26)

TOTAL INVESTMENT INCOME NET OF EXPENSES

2,501

(753)

The figures presented for 31 December 2022 are pro forma .

283

Document d’Enregistrement Universel 2023 GROUPAMA ASSURANCES MUTUELLES