Agrica made 2.9% returns on its investments in 2022, diversifying into equities and property to "secure recurring income to preserve returns on products and pensions paid, in an inflationary context".
In 2021 just €203.6m ($224.5m) of the group's €6bn general account was in directly-held real estate, and just €4.9m in direct shareholdings.
Last year the French conglomerate also reinvested "significantly" in bonds, "to take advantage of the sharp rise in interest rates".
It acknowledged 2022 had presented a "complex" macro-economic environment, but it managed to generate €56m of extraordinary gains, recurring yields worth €143m, up from €128m in 2021, and unrealized capital gains of €244.5m.
The group has €8.6bn of assets under management.
It posted a €1.8m post-tax loss attributable to the group.