b'Our visionTo become an engaged and responsibleOur mission national leader,an insurer we choose To protect our world like for its values.we protect a family.Our valuesSolidarity, openness, engagement, ambitionPromutuel Insurance is proud to present the results of an exceptional performance inMission, vision, and values2023. The fact that we far surpassed the goals we had set for ourselves is a testament to our discipline and the sound decisions we have made over the past few years.to guide Groupe PromutuelBuilding on another year of outstanding performance, we recently reviewed our mission, vision, and values to influence our future actions and decisions and make sure they help Another year of outstanding us meet our strategic objectives.achievementsSocial concerns have been central to our identity since the organization was founded in 1852. We are proud to put them front and centre in our overall mission, vision, and values! Thanks to the efforts of our entire organization, Groupe Promutuel posted robust results befitting our reputation. As of December 31, 2023, our gross written premiums1 wasThis important exercise was carried out in collaboration with our staff, officers, and Board $1,172 million, up 10.3% over 2022. Gross written premiums grew at a higher rate thanof Directors to ensure that these inspirational ideals are accurate, upheld by all members forecast, notably due to the continuously competitive market that has forced us to makeof our organization, and aligned with our strategic directions.dynamic adjustments to our pricing, and to organic growth in the number of car and business insurance policies. It is also worth noting that growth in both our distribution channels (i.e., direct sales and sales through our brokerage partners) was above the targets we had set.Corporate social responsibilityDespite the increase in claims costs, our organization recorded a much lower loss ratio thanat the forefront of our actionsprojected, enabling us to end 2023 with an insurance service result of $152 million. This positive variance is attributable to the fact that our members were relatively unaffected by natural disasters over the past year, which enabled us to post a lower-than-expected andAlthough 2023 marks the rollout of our Corporate Social Responsibility (CSR) strategy, below-market loss ratio. Our excellent insurance performance, combined with the strongit has always been part of our identity! A responsible mutual company like ours cannot performance of financial markets in 2023, enabled us to achieve a comprehensive incomehelp but be concerned about one of the biggest issues of our modern era: climate of $143 million, which is $95 million over the annual target set at the beginning of the year. change. Mindful of the impact it has on our communities and how it directly influences the services and products we offer our members, we put a lot of thought into how to position The results achieved in 2023 demonstrate our organizations collective commitment toour organization. The decision to include our inaugural CSR report in this document exceed our members expectations, deliver on our major projects, and achieve our goals!represents a major milestone in our strategy rollout. It reflects the cross-cutting work This exceptional effort has once again allowed us to combine growth and profitability tounderway to strengthen our position as a responsible insurer. What is more, this report make Promutuel Insurance shine! illustrates our environmental and social commitment, and the importance we place onA n n rt a l Rep o 1 u 2sound governance practices.This positioning is both natural and strategic and is just a small part of all the outstanding work by our great and talented team in 2023! 3 2 0 2|1 This financial measure does not meet International Financial Reporting Standards (IFRS). It is used so it can facilitate the understanding of the content. The closest recognized measure,Insurance Service Revenue , is presented in the Statement of Income and Comprehensive Income of the Combined Financial Overview included in the 2023 Financial Report.'