Promutuel Insurance de l’Estuaire held its Annual Meeting for insured members, announcing excellent results for 2023. For the fiscal year ending December 31, 2023, the mutual company generated $87.4 million in premium volume, an outstanding achievement that demonstrates the engagement of its team and partners in achieving its ambitious goals.
“At Promutuel Insurance, we’re committed to creating value and insurance solutions that meet our insured members’ needs,” said Éric Drouin, General Manager, Promutuel Insurance de l’Estuaire. “In the face of strong competition in the damage insurance industry and a rise in major weather events, our team is proud of the robust results achieved at the end of 2023. These results have once again confirmed the performance and financial health of our mutual company.”
At the meeting, the Mutual also confirmed its intention to increase its presence in New Brunswick, where it has worked with brokerage firms for more than 20 years. In 2023, Promutuel Insurance de l’Estuaire consolidated its position by entering into agreements with GoToInsure (GTI), a brokerage firm operating throughout New Brunswick, and with Assurance Chaleur, its very first partner in New Brunswick. These two transactions are a perfect illustration of the development opportunities that will open for Promutuel Insurance de l’Estuaire in the coming years.
Results highlights
- A premium volume of $87.4 million, for an increase of 12.9%.
- A total of $36.5 million in compensation paid to insured members, for a loss rate of 43%.
- An insurance result of $15.5M.
- early $200,000 in donations and sponsorships in the community, including Les Maraîchers du Cœur, the Le Tremplin festival, the Baie-des-Chaleurs Palliative Care Home, and Maison Marie-Élisabeth.
“Guided by the mutualist values that make us strong, our mutual insurance company made mutual assistance, solidarity, and cooperation part of every action and decision in 2023. By achieving our goals, our teams showed how close they are to our members,” concluded Mr. Drouin.
The Mutual’s annual meeting concluded with a talk by Pierre Lavoie on the importance of getting moving. Mr. Lavoie shared with participants some startling statistics on Quebecers’ health status and how we can do simple things to make a change. It was a captivating talk!
For information:
Josée Garneau
Director – Communications and Community Relations
1-800-463-0705, ext. 4015
[email protected]