Groupama // Universal Registration Document 2022

7

FINANCIAL STATEMENTS Combined financial statements and notes

31.12.2022

31.12.2021

Interest rate

Interest rate

+1%

-1%

+1%

-1%

(in millions of euros)

Impact on income (net of taxes)

91

(117)

102

(137)

Equity impact (excluding income)

account unit policies, since the risk of change in the index is assumed by the policyholder rather than by the insurer. The impact of sensitivity to changes in interest rates of +/-100 basis points on the Group’s life commitments is shown net of taxes in the following table:

(b) Life insurance and financial contracts This analysis was limited to life commitments with accounts sensitive to changes in interest rates. Moreover, with the exception of the floor guarantees, no sensitivity analysis was carried out on actuarial reserves for

31.12.2022

31.12.2021

Interest rate

Interest rate

+1%

-1%

+1%

-1%

(in millions of euros)

Impact on income (net of taxes)

12

(13)

18

(22)

Equity impact (excluding income)

3.1.3.2 SENSITIVITY OF FINANCIAL INVESTMENTS ANALYSIS The following table shows the impacts on net income and on the revaluation reserve (posted under Group’s IFRS equity) of a sensitivity analysis carried out in the event of a rise or fall in interest rates of 100 basis points (+/-1%). The impacts are shown after taking the following factors into consideration:

In the 2022 fiscal year, the profit ‑ sharing rate used for entities holding life insurance commitments was in a range of 57.41% to 85.84%. the rate of profit sharing of the entity holding the securities; ❯ the current tax rate. ❯

31.12.2022

31.12.2021

Interest Rate Risk

Interest Rate Risk

+1%

-1%

+1%

-1%

(in millions of euros)

Impact on the revaluation reserve

(940)

1,057

(1,083)

1,241

Equities Equity mutual funds Bonds

(880)

994

(1,024)

1,178

Fixed ‑ income mutual funds

(60)

63

(59)

63

Derivative instruments and embedded derivatives Impact on net income

2

(2)

2

(1)

Equities Equity mutual funds Bonds

(5)

5

(3)

3

Fixed ‑ income mutual funds

(3)

3

(9)

10

Derivative instruments and embedded derivatives

10

(10)

14

(14)

283

Universal Registration Document 2022 - GROUPAMA ASSURANCES MUTUELLES