Groupama // Universal Registration Document 2022

7

FINANCIAL STATEMENTS Combined financial statements and notes

7.1.2 COMBINED INCOME STATEMENT

31.12.2022

31.12.2021

(in millions of euros)

Written premiums

Note 35

15,720

15,237

Change in unearned premiums

(165)

(126)

Earned premiums

15,555

15,111

Net banking income, net of cost of risk

160

195

Investment income

2,173

2,162

Investment expenses

(755)

(757)

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 income

712

389

(2,165)

1,433

Change in impairment on investments

(31)

(23)

Investment income net of expenses

Note 36

(66)

3,203

Total income from ordinary business activities

15,649

18,509

Insurance policy servicing expenses

Note 37

(11,466)

(13,885)

Income on outward reinsurance

Note 38

962

293

Expenses on outward reinsurance

Note 38

(651)

(548)

Net outward reinsurance income and expenses

(11,155)

(14,140)

Operating expenses for financial sector businesses

(110)

(114)

Policy acquisition costs

Note 40

(2,131)

(2,034)

Administrative costs

Note 41

(586)

(530)

Other current operating income and expenses

Note 42

(932)

(855)

Total other current income and expenses

(14,915)

(17,673)

Current operating income

733

836

Total other non ‑ current operating income and expenses

Note 43

(38)

(59)

Operating income

696

777

Financing expenses

Note 44

(79)

(78)

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

Note 11

8

(16)

Corporate income tax

Note 45

(137)

(190)

Net income from continuing operations

488

494

Net income from activities either discontinued or due to be discontinued

Note 3

(34)

OVERALL NET INCOME

454

494

of which, non ‑ controlling interests

1

OF WHICH, NET INCOME (GROUP SHARE)

454

493

174

Universal Registration Document 2022 - GROUPAMA ASSURANCES MUTUELLES