Press release
Groupe Promutuel posts positive balance sheet for 2009
Québec, April 15, 2010 — At its annual general meeting of members which was held yesterday afternoon in Quebec City, Groupe Promutuel was pleased to announce the progression of its different financial indicators, allowing it to post a positive balance sheet for the past year.
In fact, Groupe Promutuel revealed a progression in sales which reached $540 million, member equity which amounts to $358 million and assets exceeding a billion dollars as of the 31st of December 2009.
"Among the most significant elements of our results this year was the return to a loss level that is closer to our habitual levels. With a 9% decline compared to 2008, Promutuel's loss level is now at 61%. The efforts that were invested in prevention are always a key factor in our loss experience, however, Mother Nature's clemency also contributed importantly to our achieving this result", stated Sylvain Fauchon, the Groupe's Chief Executive Officer.
2009 also saw Promutuel reposition its financial services business. In fact, with a long term growth objective in mind, the Groupe undertook the revisions process of its service offerings in order to better orient its efforts over the next few years. "We are certain that we made decisions that will allow the Groupe to keep developing while taking the needs of our insured members and of our clients into account", emphasized the president of the Groupe's board of directors, Mr. Omer Bouchard.
Promutuel takes the LEED
As a witness of climatic change, the Groupe decided to take action and take meaningful steps to reduce its environmental footprint. Thus, in 2009, the employees of the Federation moved into a new building which is aiming for LEED® Gold certification.
Place de l'Escarpement 1, the Promutuel building, is considered to be one of the ten best performing buildings in its category in Canada. "We are proud of our commitment to the environment and our pursuit of this approach in the matter is indicative of our determination to develop new ways of doing things within the Groupe", said Sylvain Fauchon.
Since last year's event was an instant success, the Groupe will repeat the experience of organizing an eco-concerned convention. "We have a role to play in protecting the environment; that goes without saying. Since every act counts, we will compensate for the CO2 emissions generated by our convention by planting trees through the "l'Arbre de l'intercoopération" program, an initiative of the, Société de coopération et de développement international* (SOCODEVI)", concluded the Chief Executive Officer". *Society for international cooperation and development
About Groupe Promutuel
Promutuel ranks among the biggest general insurers in Quebec. Also active in the financial services and financial security fields, the Groupe is known for its financial solidity, the high quality of its products and the excellence of its customer service. Promutuel has 1,750 employees working to serve 545,000 insured. The Groupe's mission is to promote and offer insurance and financial service products that meet and exceed the insured-members' and clients' expectations. To this end, it provides personalized service of the highest quality and encourages the mutualist values that have guided its actions for close to 160 years.
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[col width="1-6"]Source :[/col][col width="1-2"]Josée Garneau
Conseillère en relations publiques
418 840-1188, poste 2452
1 800 510-4630
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