Groupama // Universal Registration Document 2022

7

FINANCIAL STATEMENTS Combined financial statements and notes

Note 48 Commitments given and received

31.12.2022

31.12.2021

(in millions of euros)

Endorsements, securities, and guarantees received

44

14

Other commitments received

353

570

Total commitments received, excluding reinsurance

397

585

Reinsurance commitments received

892

780

Endorsements, securities and guarantees given

3,450

4,640

Other commitments for securities, assets, or revenues

1,728

1,597

Other commitments given

1,594

1,920

Total commitments given excluding reinsurance

6,772

8,157

Reinsurance commitments given

526

509

Securities belonging to protection institutions Other securities held on behalf of third parties

Other commitments received excluding reinsurance amounted to €353 million at 31 December 2022 and consisted mainly of securities received as collateral under the collateralisation mechanism set up to guarantee bond lending for €315 million. Endorsements, securities, and guarantees given totalled €3,450 million, consisting largely of the following major transactions: €140 million in guarantees on the reinsurance and co ‑ reinsurance obligations of the Group’s subsidiaries; ❯ pledged securities worth €3,233 million for life insurance policies. ❯ Other commitments on securities, assets, or income consist of subscriptions to venture capital funds (“FCPR”). The remaining €1,728 million corresponds to the difference between the investment commitment of the subscribers and the total of calls for funds actually received. Other commitments given amounted to €1,594 million. They consist mainly of the following items: securities given as collateral under the collateralisation mechanism put in place to guarantee unrealised capital gains or losses on derivatives are also recorded as off ‑ balance ‑ sheet commitments, reflected in the financial statements as €508 million of commitments given in respect of hedging unrealised capital losses on derivatives; ❯

Commitments given in respect of reinsurance totalled €526 million and mainly comprised securities given as pledges commitments given for property work orders for €661 million; ❯ as part of the issue of mutual certificates, the General Meetings of the regional mutuals voted to authorise a €642 million issue. At 31 December 2022, €5 million of the authorised issue remained to be issued by the regional mutuals. Furthermore, it is advisable to note the maximum amount of mutual certificates able to be bought is set at 10% of the total mutual certificates. ❯ Groupama Holding Filiales et Participations, in its capacity as main shareholder, undertakes to give Cofintex 6 the financial support necessary for the normal continuation of its business, in accordance with the notion of continuity of operations. Trigger clauses Groupama Assurances Mutuelles Groupama Assurances Mutuelles benefits from “trigger” clauses on the payment of interest on its four redeemable subordinated instrument (TSR) debt issues. It must therefore defer the payment of interest in the event of a regulatory deficiency in accordance with the provisions of the Solvency II Directive. Deferred interest will be interest arrears. provisional sales agreements of €36 million mainly in the subsidiary Société Forestière Groupama; ❯ commitments of €326 million relating to bond loans in the subsidiary Groupama Gan Vie; ❯ under reinsurance treaties. Unvalued commitments

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Universal Registration Document 2022 - GROUPAMA ASSURANCES MUTUELLES