UNIVERSAL REGISTRATION DOCUMENT 2023

7 FINANCIAL STATEMENTS Annual financial statements and notes

Note 12 Reserves (other than underwriting)

Increase in reserves during the fiscal year allocations for the year

Write ‑ backs for the year

Amount of reserves at 31.12.2022

Amount of reserves at 31.12.2023

(in thousands of euros)

Regulatory reserves

136

187

136

187

Reserves for pensions and similar obligations

33,769

54,003

33,769

54,003

Other reserves for contingent liabilities

18,159

54,252

10,412

61,999

TOTAL

52,064

108,442

44,317

116,189

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.

“Reserves (other than underwriting)” included in liabilities in the balance sheet as at 31 December 2023 for €116 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) for €28.7 million, as well as other reserves for contingent liabilities that change particularly due to tax reserves.

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Document d’Enregistrement Universel 2023 GROUPAMA ASSURANCES MUTUELLES