NATIXIS - Universal registration document and financial report 2019
FINANCIAL DATA Consolidated financial statements and notes
Transition between the presentation applicable to insurance companies and to banks 9.3.1 The following table shows a reconciliation between insurance companies’ financial statements as presented and how they would translate into the banking format.
At December 31, 2019
31/12/2019
Bank format
Net revenues
Other net revenue items (excl. net income from Insurance)
Insurance format (in millions of euros)
Net income from Insurance
Gross operating income
Provision for credit losses
Other items Net income
TOTAL
Expenses
Tax
Premiums written
13,882
13,882
0
0
13,882
0
0
0
13,882
Change in unearned premium income
(20)
(20)
0
0
(20)
0
0
0
(20)
Earned premiums
13,862
13,862
0
0 0
13,862
0 0
0 0
0 0
13,862
Banking operating income
58
0
58
58
58
Revenues and income from other activities
161
138
23
0
161
0 0 0 0
0 0 0 0
0 0 0 0
161
Other operating income
19
9
0
11
19
19
Investment income
1,908
1,792
116
0
1,908
1,908
Investment expenses
(368)
(279)
(75)
(14)
(368)
(368)
Capital gains and losses on disposal of investments (net of reversals, write-downs and amortization) Change in fair value of investments carried at fair value through profit or loss
262
204
(5)
0
200
(0)
0
62
262
1,829
1,833
(4)
0
1,829
0
0
0
1,829
Change in write-downs on investments
(73)
(67)
(6)
0
(73)
1
0
0
(73)
Investment income (net of expenses)
3,560
3,484
26
(14)
3,497
0 0 0 0
0 0 0 0 0 0 0 0
62
3,560
Policy benefit expenses
(14,783)
(14,662)
4
(124)
(14,783)
0 0 0 0 0 0 0
(14,783)
Reinsurance transfer income
3,465
3,455
11 13
0 0
3,465
3,465
5
Reinsurance transfer expenses
(3,478)
(3,491)
(3,478)
(3,478)
Income and expenses net of reinsurance transfers
(14)
(36)
23
0 0
(14)
0
(14)
Provision for credit losses
(2)
0 0
0
0
(2)
(2)
Banking operating expenses
(13)
(0)
(13)
(13)
0 0
(13)
Policy acquisition costs
(959)
(3)
(761)
(194)
(959)
(959)
Amortization of portfolio values and related items
0
0 0
0
0
0
0 0
0 0
0 0
0
Administrative costs
(860)
(491)
(369)
(860)
(860)
Other recurring operating income and expenses Other non-recurring operating income and expenses
(324)
0
(73)
(253)
(327)
0
0
2
(324)
(7)
0
4
(11)
(7)
0
0
0
(7)
Operational income (loss)
699 (32)
2,792
(1,187)
(969)
635 (32)
(2)
0 0 0
65
698 (32)
Finance expenses
0 0 0
(33)
(0)
0 0 0
0
Share in income of associates
10
0 0
0
0
10
10
Income taxes
(208)
(2)
(2)
(205)
0
(208)
After-tax income from discontinued activities
0
0 0
0 0
0 0
0 0
0 0
0 0
0
0
Minority interests
(118)
(118)
(118)
CONSOLIDATED NET INCOME
351
2,792
(1,219)
(971)
600
(2)
(205)
(43)
351
333
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NATIXIS UNIVERSAL REGISTRATION DOCUMENT 2019
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