Promutuel Insurance du Lac au Fleuve shared its financial results for 2022 with insured members at its annual general meeting. The results attest to the organization’s exceptional performance, the great work done to reduce the frequency and severity of losses, and the team’s unparalleled, long-standing expertise in protecting the property of people in the region.
“Our team has worked hard to move our business plan forward and achieve our 2020–2023 strategic planning goals. Although the December 23 storm was a significant climate event, our financial indicators have all remained positive,” said Pierre Raymond, General Manager of Promutuel Insurance du Lac au Fleuve.
Results highlights
▪ A premium volume of $90,963,000, representing a 5% growth
▪ A total of $53,850,000 in compensation paid to insured members, for a loss rate of 61%
▪ Insurance earnings of $4,268,000
▪ Over $460,000 in donations and sponsorships to the community through various initiatives
“Our performance shows that we’re THERE for our members when they need us, proving the relevance of our mutual insurance model in today’s world,” concluded Mr. Raymond.
An enhanced member experience in 2022
Promutuel Insurance is always striving to better meet the needs of its insured members. The mutual insurance association launched various products and services in 2022 aimed at offering members a distinctive experience, including an online claims service via the secure client portal, the new Promutuel Insurance Signature Network for home insurance, a new website, and the new Appi telematics program—the first property and casualty insurance rewards program in Québec.
The organization also continued to ramp up its technological and digital shift as it works to develop the technological capabilities needed to remain sustainable and successful moving forward.