b'17OUTSTANDING RESULTS AswelookaheadtoPromutuelInsurances IN MANY AREAS 170th anniversary, we see that our organization has had to adapt to changing circumstances PromutuelInsuranceended2021withanovertheyears.Eachchallengealongthe insurance earnings of $206 million, or $183wayhasinspiredustoworkevenharder million higher than our original target of $23and do better for our insured members, who million. Our outstanding results are attributablehaverewardeduswiththeirvaluedloyalty. to sustained growth, a very low loss ratio, andHavingclosedouttheyearwith632,000 highly favourable investment performance. insured members, Promutuel Insurance is well positioned to achieve its growth objectives.Withinvestmentincomealmostdoublingin 2021 and downgraded pension plans liabilities,In terms of written premiums, auto insurance our comprehensive income was $229 million,and home insurance continue to rank first and nearly $100 million more than in 2020. Thissecond, with a 41% and 31% share respectively. willcertainlyenablePromutuelInsurancetoBusiness insurance also made good progress, accelerate rollout of its profitable growth planrising from $185 million in 2020 to $211 million in the coming years. in 2021. Our farm insurance increased slightly, to $74 million in written premiums.Stronger profitabilityPromutuel Insurance is looking at expanding We ended the 2021 fiscal year with $993 millionoutside Qubec, in addition to bolstering its inwrittenpremiums,up$43from2020,orpresence throughout the province, particularly 4.5% growth. This strong performance reflectsin underrepresented markets. With a view to ourongoingeffortstoprovideourinsuredprotectingourfarmingheritage,Promutuel memberswithexcellentservice.WeareInsurance continues to work with the farm fire particularly proud of what we have achieved,preventioncommitteeitcreatedandwhose as we expect to reach the billion-dollar markmembersincludeUniondesproducteurs in 2022. agricoles (UPA).In the coming years, we will continue to build onoursuccessbypursuinggrowthinour existingmarketsandbusinesssectorsand seizingnewstrategicgrowthopportunities whenever and wherever they arise.A N N UA L R E P O R T 2021'