Groupe Promutuel
Mutual companies and affiliated entities
Highlights
| Combined financial overview Statement of income and comprehensive income For the year ended December 31, 2023 (in thousand of Canadian dollars) | 2023 | 2022 |
|---|---|---|
| Insurance service revenue | 1,153 | 1,050 |
| Insurance service expenses | (956) | (906) |
| Insurance service result before reinsurance | 197 | 144 |
| Transfer of reinsurance on premiums | (64) | (44) |
| Amounts recovered from reinsures for claims incurred | 19 | 35 |
| Net income from reinsurance contracts held | (45) | (9) |
| Insurance service result | 152 | 135 |
| Net financial result | 109 | (110) |
| Other expenses | (55) | (51) |
| Earnings before income taxes | 206 | (26) |
| Income taxes | (50) | 12 |
| Net income | 156 | (14) |
| Revaluation of pension plans and other comprehensive income | (13) | 47 |
| Comprehensive income | 143 | 33 |
| Combined financial overview Statement of financial position As at December 31, 2023 (in thousand of Canadian dollars) | 2023 | 2022 |
|---|---|---|
Assets | ||
| Investments, loans, and cash | 1,625 | 1,350 |
| Tangible capital and intangible assets | 75 | 73 |
| Right-of-use assets | 54 | 28 |
| Assets under reinsurance treaties held | 59 | 7 |
| Other assets | 46 | 104 |
| 1,859 | 1,562 | |
Liabilities | ||
| Liabilities under insurance contracts | 565 | 508 |
| Accounts payable | 45 | 23 |
| Lease obligations | 55 | 31 |
| Other liabilities | 61 | 10 |
| 726 | 572 | |
Equity | ||
| Capital, reserves, and retained earnings | 1,133 | 990 |
| 1,859 | 1,562 | |
*Adjusted for the application of the IFRS 17 standard, retrospectively on January 1, 2022.