Groupama // Universal Registration Document 2022

7

FINANCIAL STATEMENTS Combined financial statements and notes

36.2 Investment income net of management expenses (income breakdown by type of asset)

31.12.2022

31.12.2021

Income and expenses

Proceeds of disposal *

Income and expenses

Proceeds of disposal *

Change in fair value

Change in reserves

Change in fair value

Change in reserves

Total

Total

(in millions of euros)

Property

28 470

(6)

492

19 112

(25)

106

Equities

59

80

39

(9)

169

32

41

30 (11)

92

Bonds

1,337 (86)

(104)

(6)

1,141 1,309

77

(7)

(1)

1,378

Equity mutual funds

53 136

189 125 118 121

(1)

363

Mutual funds: Cash from repurchase agreements

(1)

2

1

(21)

(1)

(22)

Other cash mutual funds

1

(9)

(2)

(11)

Bond mutual funds

108 (37)

(85)

(15)

(29)

61

16

(6)

71

Derivatives

(12)

(12)

12

12

Other investment income

262 150

(7)

(1)

405 290

54 (11)

(4)

329

Investment income

1,848 712 (166)

(36)

2,358 1,836 389 142 (48)

2,318

Internal and external management expenses and expenses on financial instruments

(327)

(327)

(359)

(359)

Other investment expenses

(98)

(98)

(47)

(47)

Investment expenses

(424)

(424)

(406)

(406)

Financial income net of expenses 1,424 712 (166)

(36)

1,933 1,430 389 142 (48)

1,912

Capital gains on securities representing unit ‑ linked policies Capital losses on securities representing unit ‑ linked policies Adjustments on unit ‑ linked policies

566

566

1,412

1,412

(2,565)

(2,565)

(121)

(121)

(1,999)

(1,999)

1,291

1,291

TOTAL

1,424 712 (2,165)

(36)

(66)

1,430 389 1,433 (48)

3,203

* Net of write ‑ back of impairment and amortisation.

261

Universal Registration Document 2022 - GROUPAMA ASSURANCES MUTUELLES