Groupama // Universal Registration Document 2022

7

FINANCIAL STATEMENTS Combined financial statements and notes

31.12.2021

France

International

Total

Property and casualty insurance

Property and casualty insurance

Life and health insurance

Financial sector business

Life and health insurance

Holding company

Holding company

Total

Total

(in millions of euros)

Earned premiums

5,899 7,057

12,955 1,439 717

2,156 15,111

Net banking income, net of cost of risk

195

195

195

Investment income

213 1,747

(13)

1,948 107 104

3 214 2,162

Investment expenses

(107)

(604)

27 (684)

(50)

(22)

(73)

(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

91 280

(4)

367

12

9

22 389

19 1,329

11 1,359

1

73

74 1,433

Change in impairment on investments

(8)

(7)

(7)

(22)

(1)

(1)

(23)

Total income from ordinary business activities

6,106 9,802 195

15 16,118 1,508 880

2 2,391 18,509

Insurance policy servicing expenses

(4,072)

(8,167)

(12,238)

(948)

(699)

(1,647) (13,885)

Income on outward reinsurance

148 113

261

32

(1)

32 293

Expenses on outward reinsurance

(356)

(127)

(483)

(62)

(3)

(65)

(548)

Operating expenses for financial sector businesses

(114)

(114)

(114)

Policy acquisition costs

(954)

(658)

(1,612)

(323)

(99)

(423)

(2,034)

Administrative costs

(225)

(177)

(402)

(91)

(37)

(128)

(530)

Other current operating income and expenses

(352)

(264)

5 (129)

(740)

(101)

(13)

(1)

(115)

(855)

CURRENT OPERATING INCOME

297 523

86 (115)

791

16

28

1

45 836

Other operating income and expenses

(26)

5

(32)

(53)

(5)

(1)

(6)

(59)

OPERATING INCOME

271 528

86 (147)

738

11

27

1

39 777

Financing expenses

(5)

(1)

(71)

(76)

(1)

(1)

(2)

(78)

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

(22)

(22)

6

6 (16)

Corporate income tax

(89)

(151)

(24)

81 (183)

(4)

(3)

(7)

(190)

NET INCOME FROM CONTINUING OPERATIONS Net income from activities either discontinued or due to be discontinued OVERALL NET INCOME of which, non ‑ controlling interests OF WHICH, NET INCOME (GROUP SHARE)

178 376

62 (159)

457

13

23

1

37 494

178 376

62 (159)

457

13

23

1

37 494

1

1

1

178 375

62 (159)

455

13

23

1

37 493

202

Universal Registration Document 2022 - GROUPAMA ASSURANCES MUTUELLES