Groupama // Universal Registration Document 2022

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CORPORATE SOCIAL RESPONSIBILITY (CSR) Declaration of Extra ‑ financial Performance

Voluntary Ratio

Of which UL (in €M)

(in %)

(in €M)

Share of exposures on taxonomy ‑ eligible activities

32.0%

16,503.3

1,355.3

Share of exposures on taxonomy non-eligible activities excluding cash

37.6%

1,9372.6

4,734.9

Share of exposures on “unallocated” activities

0.0

0.0

Cash and cash equivalents

7.3%

3,744.0

482.1

Share of derivatives

-1.2%

-604.4

-8.0

Share of exposures to companies not subject to the NFRD (/DEFP)

24.3%

12,530.2

3,679.1

TOTAL ASSETS EXCLUDING PUBLIC EXPOSURES

100.0% 51,545.6

10,243.3

Share of exposures to central governments, local governments (sovereigns), central banks or supranational issuers

34.5%

27,188.1

1,726.9

TOTAL ASSETS

100.0% 78,733.7

11,970.3

4.2.4.2 (a) As Groupama publishes on a voluntary basis and given the complexity and lack of reliable data on gas and nuclear, we have chosen not to present the tables in Annex XII of the Commission Delegated Regulation (EU) 2022/1214 of 9 March 2022 on gas and nuclear this year. Non ‑ life insurance indicator Eligibility for the taxonomy For 2023, also as an insurer, the Groupama group must publish the following ratio on the data at 31 December 2022: Non ‑ life insurance ratio = Share of gross non ‑ life premiums eligible for the taxonomy/Total non ‑ life premiums. The “climate delegate act” determines which activities are eligible for climate change mitigation and adaptation objectives. Non ‑ life insurance is among the activities eligible under the adaptation objective. The act sets out the criteria that non ‑ life insurers must meet in order to be aligned with the taxonomy. Compliance with these “technical” criteria (and thus the alignment of insurance products) will apply from the year 2024 (fiscal year 2023). According to the “Climate Delegated Act”, the lines of business defined in Annex I of the Solvency II Directive ( i.e. , the following 8 lines of business) are eligible for the taxonomy, as long as they are related to the coverage of a climate risk event. As clarified by the Commission’s Q&A published in December 2021, a line of business must contain products with terms related to the treatment of climate risk events to be a base effect following the rise in interest rates experienced in 2022: due to their greater sensitivity to interest rates, sovereign assets have suffered a greater drop in market value than other assets, which increases the denominator proportionally (sovereign assets being deducted from the base). ❯ Change in voluntary ratio between 2022 and 2021 Between the end of 2022 and the end of 2021, the voluntary ratio fell by 3.1 percentage points from 35.2% to 32%. The two main factors behind this decline were: the integration of UL assets: in 2022, UL assets accounted for 8% of eligible assets versus 24% of non ‑ eligible assets. The ratio excluding UL would be 36.7%, an increase of 2.5 points compared with 2021 at constant scope; ❯

considered eligible. The following 8 activity lines are potentially eligible:

medical expenses insurance; ❯ income protection insurance; ❯

workers’ compensation insurance; ❯ motor vehicle liability insurance; ❯ other motor vehicle insurance; ❯ marine, aviation, and transport insurance; ❯ fire and other property insurance; ❯ assistance insurance. ❯

Following an initial analysis (see France Assureurs’ note of 18 January 2022), it appears that only the following three lines of business include explicit coverage of a climate risk event:

other motor vehicle insurance; ❯ marine, aviation, and transport insurance; ❯ fire and other property damage insurance. ❯

(b) Regulatory ratio In order to determine the regulatory ratio for the 2022 financial statements, Groupama used the same methodological basis as for the 2021 financial year but extended the analysis to the international scope (last year’s analysis covered only the French scope). In addition, Groupama produced a table of correspondence between the business lines (according to the axes of analysis of Groupama’s activities) and the three business lines retained following an initial analysis of France Assureurs among the 8 mentioned in the “delegated climate act” (Annex 1, Solvency II directive), containing explicit coverage of a climate risk event. On this point, an improvement has been made this year compared with the methodology used last year, which consisted of removing from the “Passenger Vehicle” business line the portion of premiums corresponding to civil liability cover (which correspond to premiums that are included in a business line not included in the analysis of France Assurances). On these lines, which explicitly include a climatic guarantee, the entire insurance premium of the products concerned is retained in the numerator of the regulatory ratio.

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Universal Registration Document 2022 - GROUPAMA ASSURANCES MUTUELLES