Groupe Promutuel and its member companies firmly believe that the rigorous 
application of best governance practices is the key to upholding mutualist values. 
With that in mind, Groupe Promutuel undertook a review of its governance and 
identified areas for improvement. Work to implement the recommendations 
resulting from the review is underway and will ensure that Groupe Promutuel 
governance evolves to be consistent with best practices.
Similarly, Groupe Promutuel must adopt best practices in regulatory compliance 
and risk management, so our insureds benefit from management that is healthy, 
prudent, and effective. To that end, we have developed policies and processes 
that govern who we are and what we do.
Management and Board of Directors’ Roles and Responsibilities
Our board members and management staff must act in an honest, fair, and 
ethical manner. While showing all the integrity expected of them, they must also 
possess and develop the skills they need to fulfill the roles, responsibilities, 
and obligations incumbent upon them. With a view to sound and prudent 
management, Groupe Promutuel has taken steps to include a member with 
specific expertise in information and communication technology on the Board 
of directors. 
Business Risk Management Framework
Groupe Promutuel has a risk management framework that addresses all the 
various risks to which it is exposed. The framework is administered and overseen 
by various managers and committees. The Board of directors is responsible 
for determining risk tolerance levels. It must also approve the development, 
review, and implementation of risk monitoring and control policies. To this end, 
the Board of directors has established a Risk Management and Standards 
Committee to ensure the implementation of best practices relating to, among 
others, compliance with sound business practices and sound and prudent 
management practices.
Internal Controls, Independent Supervision, and Operational Audits
Our internal controls are effective and efficient. They are based on reports from 
the people responsible for risk management and regulatory compliance, along 
with any other reports drawn up for the Board of directors.
Our internal controls are also subject to various external oversight mechanisms, 
including external audits.
Ethics and Professional Conduct
The Governance and Ethics Committee that reports to the Board of Directors 
ensures that Groupe Promutuel applies a code of ethics for board members and 
a code of ethics and professional conduct for staff. These codes address both 
potential and apparent conflicts of interest. 
The Committee conducts annual assessments of the Board’s integrity and 
collective competence.
Governance
Groupe Promutuel’s governance framework also includes a program, policies, 
and a self-assessment mechanism based on best practices, which, for the 
purpose of continuous improvement, are also part of Groupe Promutuel’s work 
to review and improve its governance.
2025 – ANNUAL REPORT 
29

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