GROUPAMA Presentationof2007EmbeddedValue - - PDF document

• GROUPAMA

Presentationof2007EmbeddedValue

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• Introduction
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• 1.Scopeincludedinthecalculationoftheportfoliovalue
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7"< France 2 F'D 7 "< 2689":)!: < International % "5 7 " " ;:)@2/! )! )! - " 4 @ ( 2 < G2/"!:7" )"/3 ,'?"%/"3 /< 2F'D7" ":@"4@(2< %: ) 689 " ) @4@(2 <

• 2.Principalchangescomparedtothe2006EV
• Assumptions

/3:) "< Scope < Additionalcalculations !: ) " = H0D !H0D-!!!<

• 3.ConsolidatedResults(FranceandInternational)
• Million euros

France International Total AdjustedNetAssetValue 2,377.5 226.2 2,603.7 )/ ,:< '&<& ,..'<. 2 3.F.<0 3,<' 30,< 'D! 3,F%<' 3''< 3.&<% 3/ 3F,<' 3,<% 3F<& Portfoliovalue 2,275.9 129.3 2,405.2 EmbeddedValue 4,653.4 355.6 5,009.0

• Million euros

France International Total ()")/ '< '.< ''< 2 3< 3<F 3,<' 'D! 3,<F 3<' 3< 3/ 3.< 3<0 3.<% NewBusinessvalue(NBV) 51.7 11.2 62.9

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.,<' 'F<& 0,<F NBV/APE 12.8% 8.6% 11.8% (* ,:0'F< 0<. .:&< NBV/PVNBP 1.5% 2.0% 1.5%

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31 December 2007 31 December 2006 Change (euros) %Change AdjustedNetAssetValue 2,377.5 2,528.3

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• 494.5
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• 343.6
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Portfoliovalue 2,275.9 1,933.3 342.6 17.7% EmbeddedValue 4,653.4 4,461.6 191.8 4.3%

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31Dec. 2007 31Dec. 2006 Change (M€) % Change ()")/ 102.0 82.7 19.3 23.3% 2

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NewBusinessvalue(NBV) 51.7 42.9 8.8 20.5%

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403.1 417.4

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NBV/APE 12.8% 10.3% 2.5 points (* 3.519.6 3.631.3

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NBV/PVNBP 1.5% 1.2% 0.3 points

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ANAV Portfolio value EV EV Medianvalue 2,377.5 2,275.9 4,653.4 4,653.4

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Portfoliovalue Portfoliovalue Medianvalue 2,275.9 2,275.9

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∆Portfoliovalue +@H'D 3'0%<& 3<FD 73'D &<% '<,D C! 30D 3.<, 3'<'D C! 30D &<F '<,D ;30D '0<% 0<0D

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Total AdjustedNetAssetValue 226.2 )/ 180.8 2

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Portfoliovalue 129.3 EmbeddedValue 355.6

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ANAV Portfolio value EV Medianvalue 226.2 129.4 355.6

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NBV: Medianvalue 11.2 11.2

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