Annual Report 2024

See the 2024 Annual Report

Groupe Promutuel

Mutual companies and affiliated entities

Highlights

Combined financial overview
Statement of income and comprehensive income 
For the year ended December 31, 2024
(in millions of Canadian dollars)


2024
$


2023
$

Insurance service revenue1,2911,153
Insurance service expenses(1,105)(956)
Insurance service result before reinsurance186197
   
Transfer of reinsurance on premiums(85)(64)
Amounts recovered from reinsurers for claims incurred8319
Net income from reinsurance contracts held(2)(45)
Insurance service result184 152 
Net financial result169109
Other expenses(73)(55)
Income before Income taxes280 206
Income taxes7050
Net income210 156
   
Other comprehensive income20(13)
Comprehensive income230 143
   
Combined financial overview
Statement of financial position 
As at December 31, 2024
(in millions of Canadian dollars)


2024
$


2023
$

Assets

  
Investments, loans, and cash1,8611,625
Tangible capital and intangible assets8975
Right-of-use assets5354
Assets under reinsurance treaties held2759
Other assets5646
 2,086 1,859 
   

Liabilities

  
Liabilities under insurance contracts577565
Accounts payable5445
Lease obligations5855
Other liabilities2461
 713 726
   

Equity

  
Capital, reserves, and retained earnings1,3731,133
 2,086 1,869