Groupama // Universal Registration Document 2022

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THE GROUP’S BUSINESSES Insurance in France

2.2 INSURANCE IN FRANCE

2.2.1

ECONOMIC ENVIRONMENT AND MARKET TRENDS

increased 2.9% to €24.8 billion. For multi ‑ risk home insurance policies, premiums increased 4.0% to €12.3 billion for a number of policies that increased by +1.8%.

In 2022, French insurance premium income totalled €239 billion, a level virtually stable with 2021 ( source: France Assureurs ). Life and health insurance premium income totalled €173 billion. For 2022 overall, life insurance contributions totalled €144.4 billion, down 3% from 2021. After a year of catching up, contributions returned to their pre ‑ pandemic level in 2022 (€144.6 billion in 2019). The share of UL policies in contributions was 40% over the year, after 39% in 2021. Benefits totalled €130.1 billion, up 3%. Net inflows therefore amounted to +€14.3 billion. At the end of December 2022, assets under management in life insurance policies stood at €1,842 billion. The success of savings/pensions plans (PER) contributed to this performance. For 2022 as a whole, there were 1.3 million new policyholders with a retirement savings plan for assets under management of €48.4 billion at the end of 2022. In health and protection insurance, premium income grew 5.7% to €28.1 billion, with 5.9% growth in healthcare and 5.5% in protection. In 2022, property and casualty insurance premiums totalled €66.2 billion, up 4.7% from 2021. This growth was more pronounced for professional insurance, which rose by an average of +7.3% year on year, compared with 3.2% growth for individual insurance. In motor insurance, earned contributions

COMPETITION AND POSITIONING

2.2.2

On the mature insurance market in France, many insurance companies offer products comparable to Groupama’s products, sometimes through the same marketing techniques. The Group is in competition with insurance companies, mutuals, and bancassurance companies and may face competition on the savings market from Asset Managers, independent Asset Management advisors and other financial institutions. The difference lies primarily in the following criteria: the size, power, and quality of the distribution networks, particularly in advisory services; ❯ the range of products offered, their quality, and the capacity for innovation; ❯ prices; ❯ service quality; ❯

financial management performance; ❯ brand reputation and awareness; ❯ attractiveness of products to customers. ❯

Groupama generated €13.2 billion in premium income in France in 2022. The table below shows the change in Groupama’s ranking in France, the number 8 French multi ‑ line insurer in 2022: French ranking 2022 2021 Insurance 8 6 P&C 3 3 L&H 14 12 (1)

Source: L’Argus de L’Assurance – December 2022.

2.2.3 PROPERTY AND CASUALTY INSURANCE

Groupama generated €6.2 billion in premium income in property and casualty insurance in France as at 31 December 2022.

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Universal Registration Document 2022 - GROUPAMA ASSURANCES MUTUELLES