b'18Extraordinary loss ratio Laying the foundationsThanks to a relative lack of natural disastersof our transformationand the mild weather, our insured membersAsindustryconsolidationintensifiedand were less affected by claims attributable tothedigitalrevolutionpickedupspeed,we wind, water, or snow. The ongoing COVID-19strengthenedourorganizationalstructure lockdown, which reduced travel, also led totofacilitaterolloutofourprofitablegrowth adropinautoinsuranceclaims.Combinedstrategyandsuccessfullycompleteour withourmanyeffortstoimproveportfoliobusinesstransformationproject,helping profitability,webrokerecordsin2021Promutuel Insurance continue to shine in the with a 42.7% net loss ratio, a 6.9-pointinsurance market.improvement over the previous year. With the outstanding contribution of our teams, In keeping with our longstandingwe fast-tracked our efforts to strengthen and Our primary goal tradition, we continue to ensuremodernizeourtechnologyinfrastructure.In has always been to peace of mind for our insuredaddition to enhancing our risk management members by providing a skilledandsecurityframework,theseeffortsare do good for our teamtohelppreventlosses,essential to the successful rollout of our digital insured members offer advice, and simplify theirservices.Thismajorinvestmentisaimedat and their communitieslives. deliveringpersonalizedsolutions,products, while generating a and services to our insured members and more return on investment. advancedtoolstoouremployees.Byyear-PROJECTS FOR Aend,theinitiativesrequiredforGuidewires PROMISING FUTURE cloud migration were progressing well.Adopted prior to the pandemic, ourIn 2021, we also continued to enhance our strategic plan was extended until 2023business model and governance framework. to help us adapt to the new reality we face.Inthisregard,the54recommendations Ongoing implementation of this ambitious planforthegovernanceandbusinessmodel will pave the way for a promising future for our(GMA)projectwereapproved.Modernizing organization. Promutuel Insurance is meetingPromutuel Insurances governance framework itstransformationimperativesprofitablewill allow us to align our best practices while growth,memberexperience,operationalmaking our decision-making processes more efficiency, talent, and governancethanks toagile.a bold and agile approach.A N N UA L R E P O R T 2021'