Groupama // Universal Registration Document 2022

7

FINANCIAL STATEMENTS Annual financial statements and notes

11.2 Change over the past five years in claims regulations applied since its inception and the outstanding claims reserve Change in accrued premiums and claims The data presented below correspond to changes in the following portfolios:

inward reinsurance from regional mutuals; ❯ run ‑ off businesses; ❯ other inward reinsurance. ❯

Fiscal years

2017 and earlier

2018

2019

2020

2021

2022

(in thousands of euros)

Estimate of the claims expense: at end of N

28,426,408 1,942,129 2,048,813 2,081,589 2,007,338 2,748,410

at end of N+1

28,296,128 1,906,304 2,047,770 2,079,698 1,955,124

at end of N+2

28,279,636 1,935,581 2,019,505 2,033,559

at end of N+3

28,307,593 1,906,367 2,016,558

at end of N+4

28,213,679 1,920,410

at end of N+5

28,219,083

Claims expense (a)

28,219,083 1,920,410 2,016,558 2,033,559 1,955,124 2,748,410

Cumulative claims payments (b)

26,299,451 1,472,800 1,559,640 1,438,927 1,300,278 912,307

Outstanding claims reserves (a)-(b)=(c) (net of the retained share of the CDA)

1,919,632 447,610 456,918 594,632 654,846 1,836,102

Earned premiums

35,803,516 2,693,951 2,778,511 2,687,909 2,883,129 2,858,506

LOSS RATIO

78.82% 71.29% 72.58% 75.66% 67.81% 96.15%

11.3 Change in opening claims reserves Liquidation of claims reserves gross of reinsurance ı

2022

2021

(in thousands of euros)

Opening claims reserves net of expected recoveries

5,169,978

5,006,462

Payments made during the year for previous years net of expected recoveries

(989,684)

(924,793)

Closing claims reserves net of expected recoveries

(4,060,050)

(3,884,124)

SURPLUS/DEFICIT

120,244

197,545

The opening surplus posted in 2022 on claims reserves totalled +€120.2 million. It is primarily made up of a surplus on the accepted risks of the regional mutuals for +105.6 million and a

surplus on the inward reinsurance portfolio of the subsidiaries and profit centres for +€14.6 million.

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Universal Registration Document 2022 - GROUPAMA ASSURANCES MUTUELLES