FEBVRE BAY. In 2021, Promutuel Assurance Verchères – Les Forges was able to reconcile growth and profitability, while continuing to offer a distinctive member experience and fulfill its social mission within the communities. Thanks to the undeniable contribution of its dedicated team and sustained actions to maintain its competitiveness, it is ensuring the future of its mutualist model, which allows it to be close to its insured members and to better meet their expectations.
Solid results marked by an excellent claims experience
As part of its virtual annual meeting, the Mutual Society presented to its insured members the results of the past year, highlighting, among other things, its financial solidity, its constant efforts to achieve the objectives of its strategic planning as well as its various strategies to mitigate the impacts of the frequency and severity of claims. Here are the highlights:
- Premium volume of $64,578,000, representing growth of more than 6%
- A total of $28,178,000 paid to its member-insured victims of a loss, for a loss ratio of 45%, in a context where the year 2021 was marked by a mild winter as well as by the absence of natural disasters and a low number of major losses
- A net surplus (insurance result) of $11,348,000
- $47,000 paid in donations and sponsorships
- 5% rebate to insured members, for a total of $3,261,000
Standing out in a competitive market remains a priority and a constant challenge. Dealing with climate threats, the economic context and issues related to the shortage of labor is just as important. It is with diligence and pride that we will use these profits to carry out promising projects, contribute to our growth and thus offer a unique and personalized member experience,” said the General Manager of Promutuel Assurance Verchères – Les Forges, Mr. Jean Bussières. .
It should also be noted that the Mutual Society is continuing, together with Groupe Promutuel, to review its underwriting standards, its pricing and its operational processes. At a time when consolidation in the industry is accentuated, which phenomenon is combined with a surge in digital technology, the scarcity of auto parts and an increase in the cost of construction materials, it is adapting its methods to meet effectively to the changing needs of insured members.
We are making courageous choices to ensure our profitable growth, while remaining faithful to our origins and our values of solidarity. This is our vision for the future! We are also proactive in terms of prevention to give sound advice to our insured members and ensure that their property is adequately protected,” added Mr. Jean Bussières.
Demonstrate the concrete benefits of being an insured member
In addition to participating in the vitality of a local business, the members of Promutuel Assurance Verchères –Les Forges benefit from a rebate when the financial results allow it. Because the year 2021 was exceptional in several respects, each member will receive, over the next few months, a 5% rebate, calculated on the basis of the premium subscribed on December 31, 2021, whether in auto, home, agriculture or business. A total of $3,261,000 will be paid out in patronage.
In addition, since the cooperative values guide the Mutual Society in its daily actions, it supports causes or organizations that contribute to the economic and social well-being of communities.
2021 was no exception: $47,000 was awarded in donations and sponsorships. Involved in its community, the Promutuel Insurance Verchères – Les Forges team also took great pleasure in participating in local events when the pandemic situation allowed.
By choosing us to protect your property, you contribute to the fact that significant sums are allocated each year to organizations in your region. By giving back to the people of our region, we are proud to show you concretely one of the many advantages of being among our insured members! Thanks to you, we make the Promutuel Insurance difference shine! “, concluded Mr. Raymond Bluteau, Chairman of the Board of Directors.