UNIVERSAL REGISTRATION DOCUMENT 2023

7 FINANCIAL STATEMENTS Annual financial statements and notes

11.2 Change over the past five years in claims regulations applied since its inception 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

2018 and earlier

2019

2020

2021

2022

2023

(in thousands of euros)

Estimate of the claims expense: at end of N

30,238,256 2,048,813 2,081,589 2,007,338 2,748,410 2,792,268

at end of N+1

30,185,940 2,047,770 2,079,698 1,955,124 2,748,090

at end of N+2

30,243,174 2,019,505 2,033,559 1,885,400

at end of N+3

30,120,046 2,016,558 1,937,636

at end of N+4

30,139,493 1,977,302

at end of N+5

29,928,039

Claims expense

29,928,039 1,977,302 1,937,636 1,885,400 2,748,090 2,792,268

Cumulative claims payments (b)

28,032,837 1,607,224 1,489,686 1,453,477 1,706,202

817,853

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

1,895,202

370,077

447,949

431,923 1,041,888 1,974,416

Earned premiums

38,528,770 2,779,762 2,694,095 2,889,003 2,935,538 3,205,218

LOSS RATIO

77.68% 71.13% 71.92% 65.26% 93.61% 87.12%

11.3 Change in opening claims reserves Liquidation of claims reserves gross of reinsurance ı

2023

2022

(in thousands of euros)

Opening claims reserves net of expected recoveries

5,887,226

5,169,978

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

(1,251,670)

(989,684)

Closing claims reserves net of expected recoveries

(4,172,057)

(4,060,050)

SURPLUS/DEFICIT

463,499

120,244

The opening surplus posted in 2023 on claims reserves totalled +€463.5 million. It is primarily made up of a surplus on the accepted risks of the regional mutuals for +€351.4 million and a

surplus on the inward reinsurance portfolio of the subsidiaries and profit centres for +€112.1 million mainly due to measures relating to very favourable interest rate impacts.

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Universal Registration Document 2023 GROUPAMA ASSURANCES MUTUELLES