SAINT-HYACINTHE, QC, March 26, 2015 /CNW Telbec/ - Humania Assurance held its annual general meeting this morning. Company President Richard Gagnon was particularly pleased to announce 23.2% growth in net earnings, for a total of $4.9 million. Company revenues reached $136.8 million, up more than 14% over last year, and assets climbed to $477.2 million, or 16.3%.
In addition to announcing Humania Assurance's financial successes, the President highlighted the company's development in markets outside Quebec, representing 30% of the company's individual insurance sales, including those of its subsidiary, LS Travel. Also noteworthy was that 16% of the company's individual insurance sales took place online, a first for Humania.
In total, the company's sales grew by 17% for individual insurance and 8% for group insurance in 2014.
Mr. Gagnon reminded everyone that the company is determined to gradually expand its market by offering insurance products in every province in Canada. Furthermore, Humania Assurance will continue to use new communication and management technologies to reach consumers in need of insurance products and to serve its clientele.
With regard to product distribution, the President stated that Humania Assurance plans to remain an active partner in the independent brokerage network in Quebec and throughout the ROC; it already has three partners across Canada.
Humania Assurance primarily provides health insurance products. It continues to evolve within a mutual company structure, owned by some 225,000 members through LS Mutual Management. Each insurance policyholder automatically becomes a mutual member. Humania Assurance is a company that has been in operation since 1938, although its roots date back to 1874 with the founding of L'Union Saint-Joseph de Saint-Hyacinthe, a fraternal benefit society.
SOURCE Humania Assurance Inc.
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For further information: Ms. Josée Courteau, Executive Secretary, Humania Assurance, 1555 Girouard Street West, PO Box 10000, Saint-Hyacinthe, Québec J2S 7C8, Phone: 1 800 363-1334, ext. 275, Email: [email protected], Website: www.humania.ca, Annual report: ra.humania.ca