Summary report – 2026 Annual General Meeting

Publication date: May 3, 2026

Targeted audiences

Claims adjuster Damage insurance agent Damage Insurance Broker Training managers

Bylaws

A key item on the AGM agenda was the approval, by the members, of the bylaws of the Chambre de l’assurance.

As a foundational governance document, the bylaws set out the general rules governing the operation of the self‑regulatory organization, including the holding of members’ meetings, the composition and powers of the Board of Directors, the roles of officers and committees, and decision‑making processes.

The bylaws were developed within a clearly defined framework. They comply with the requirements of Bill 16 and with the recognition decision granted to the Chambre by the Autorité des marchés financiers (the Autorité). They also build on the bylaws that were previously in effect within the two merged chambers, namely the Chambre de la sécurité financière (CSF) and the Chambre de l’assurance de dommages (ChAD).

The drafting process was carried out with diligence and transparency, including a public consultation held this past winter.

“Why are you being asked to vote today? Because the Chambre de l’assurance is a non‑profit organization incorporated under the Companies Act, which grants the general meeting of members a central role in adopting the rules that govern its democratic life. Your vote gives the bylaws their full legitimacy and allows them to come into force, subject to the required approval by the Autorité des marchés financiers,” explained Mr. Albert.

During the meeting, a member asked whether the bylaws would be reviewed annually.

The Chair responded that an annual review would not be necessary, but that revisions would occur “if significant adjustments are required.” In such cases, he noted, a public consultation would be held and the amendments would have to be approved by members at a general meeting.

The bylaws were ultimately approved by the members present and will come into force following approval by the Autorité.

New Board Member

The result of the election to the Board of Directors for the life and health insurance discipline was announced. Cynthia Laventure, President and CEO of Groupe financier Symbiose, was elected with approximately 50% of the vote.

To learn more, please refer to this article (in French).

Activity Report summary

Mario Albert and Chantal Lamoureux, President and Chief Executive Officer of the Chambre, presented a summary of the activity report covering the period from July 4 to December 31, 2025.

Describing the document as a “transition report,” the Chair of the Board emphasized that it reflects the unique context of the merger between ChAD and CSF.

“This exercise is essential to report to members on how the organization is governed, its regulatory activities, its public‑protection initiatives, and the professional support services it provides,” he stated

Governance

Mr. Albert began with governance highlights. He reviewed the work of the Transition committee, which met 21 times to address matters related to the merger, and outlined the major achievements of the Board of Directors, which held six meetings during the reporting period.

Overall, compliance with Bill 16 is progressing as planned, and the remaining work is expected to be completed by July 4.

The Chair added that the Board’s efforts were guided by a commitment to building a credible, strong, and sustainable Chambre de l’assurance. “I am proud of the work accomplished in such a short time. Board members generously contributed their diverse expertise to support this transition, and I sincerely thank them for their dedication,” he said.

Operational Activities

Ms. Lamoureux then addressed operational activities. She highlighted the results of the continuing education cycle, which concluded with a record compliance rate of 94.2% in the disciplines of personal insurance, mutual fund, and scholarship plans. The training catalogue was also expanded with 24 new courses.

The Relations Centre handled more than 10,000 calls between July and December 2025, with frequent inquiries related to notice of replacement and termination of mandates in damage insurance.

The CEO also outlined key milestones reached in the regulatory transfer of mutual fund representatives to CIRO and scholarship plans representatives to the Autorité.

With respect to professional discipline, an increase in the number of closed investigation files was observed in 2025 compared to 2024. Ms. Lamoureux acknowledged, however, that reducing investigation timelines remains a priority, as they are still lengthy.

All information presented during this portion of the meeting is available in the activity report (in French only).

Presentation of the financial statements

The audited 2025 financial statements were presented by Denis Charland, Chair of the Audit committee. At the outset, he noted that “the auditor’s opinion contains no reservations.”

Revenue growth between 2024 and 2025 is mainly attributable to a slight increase in membership. Expenses rose by $3.2 million compared to 2024, largely due to merger‑related costs.

According to Mr. Charland, the situation is not a cause for concern.

“The Chambre de l’assurance is in good financial health, and the combined 2025 budget of the two merging organizations already anticipated a deficit due to planned initiatives,” he explained.

He concluded by stating that “internal controls are adequate and no quantitative or qualitative issues were identified with respect to the financial information provided.”

For more information, members may consult the complete financial statements (in French only).

Appointment of the external auditor for 2026

The AGM also included the appointment of the external auditor for the fiscal year ending December 31, 2026.

Mr. Albert reminded members of the importance of expressing their views on this matter.

“The auditor is your independent lens on the organization’s financial situation. The auditor does not work for management or the Board but verifies the financial statements on your behalf to ensure that the Chambre de l’assurance’s funds are used in accordance with its mission, rules, and decisions.”

The Board’s Audit committee recommended the appointment of Raymond Chabot Grant Thornton, notably because of the firm’s in‑depth knowledge of the Chambre de l’assurance’s activities and the quality of its work, both this year and during previous mandates with ChAD and CSF.

Two questions were raised regarding whether multiple bids had been received and whether pricing was comparable.

Mr. Albert explained that no request for proposals was issued this year, as the merger context did not support a change in auditors at this time. He added that the proposed fees are consistent with those paid by the former organizations prior to the merger.

Answers to questions raised

In addition to questions related to the bylaws and the auditor, several other questions were asked during the event. The responses are provided below for the benefit of all members.

Please note that questions have been slightly edited for clarity. Any opinions expressed reflect the views of their authors only and not those of the Chambre de l’assurance.

1. What is the Chambre de l’assurance’s position on the application of taxes on commissions?

The Canada Revenue Agency (CRA) has announced its intention to apply the Goods and Services Tax (GST) to trailing commissions on mutual funds as of July 1, 2026. These commissions are paid by investment fund managers to dealers.

Given its status as a self‑regulatory organization whose mission is to protect the public, The Chambre de l’assurance cannot take a position on this issue. Matters related to taxation or compensation generally fall within the mandate of professional associations

2. Is it possible to publish the general ledger for the entire fiscal year?

The Chambre de l’assurance will not publish this document. The publication of audited financial statements fully meets our transparency obligations to members.

3. What do you think of this self‑discipline method: requiring members to send a copy of the notice of replacement to the Chambre de l’assurance?

Thank you for your suggestion. As you know, completing and providing a notice of replacement to the policyholder is a regulatory obligation for all financial security advisors.

The professional must complete the form before or at the same time as the insurance proposal and must provide a copy to the policyholder within five business days following the signing date.

Each professional must document their actions in the client file notes. This remains the most effective way to demonstrate compliance with notice of replacement obligations, should verification occur as part of an investigation or inspection.

These documents contain sensitive personal information and are regularly produced by advisors. For reasons related to record‑keeping capacity, proportional oversight, and the protection of personal information, it would neither be appropriate nor desirable for the Chambre de l’assurance to systematically retain all replacement notices. Such large‑scale retention would increase data‑security risks without providing significant additional compliance value.

4. The Prime Minister of Canada, Mark Carney, has stated his intention to facilitate the removal of barriers between professional practices across Canada. Do you believe it will be possible to obtain licence reciprocity from Ontario to Québec without having to meet internship requirements or pass exams specifically related to civil law?

Professional oversight of financial services in Québec involves several organizations with distinct mandates.

The Autorité sets initial training standards and entry‑to‑practice requirements, including internships, for financial services professionals in Québec. These requirements reflect Québec’s civil‑law framework and are designed to ensure public protection.

The Chambre de l’assurance oversees compulsory continuing education for members. Reciprocity agreements exist with certain provinces in damage insurance and life and health insurance. Financial planning professional development falls under the responsibility of the Institut de planification financière.

Discussions among provincial organizations, including the Chambre de l’assurance, continue in order to promote professional mobility. Full reciprocity without Québec‑specific requirements appears unlikely in the short term due to legal and regulatory differences, although adjustments may be considered.

5. I hold a license in the field of group insurance of persons in Québec, as well as a full‑scope practice certificate valid across Canada. As a result, I am only authorized to advise clients in Québec in the area of group insurance, whereas elsewhere in Canada I may provide advice on both group pension plans and individual products. Why is this the case?

In Québec, the Autorité is responsible for issuing practice certificates for financial services professionals. Separate certificates are required for personal insurance and for group insurance. For more information, please consult the Autorité’s website.

6. How will the general public be informed of the existence of the Chambre de l’assurance?

Several public‑facing initiatives will be rolled out, starting with the new website launching this fall. It will include a consumer section covering insurance‑related topics, particularly the role and obligations of members.

A consumer survey will also be launched in the coming months to better understand public information needs and relationships with certified professionals. The findings will support strategic public‑awareness campaigns.

The Chambre de l’assurance is also pursuing collaborations with several partners, including content published through the Protégez‑Vous website. Additional tools and training will be developed in collaboration with Cercle finance du Québec, Option consommateurs, and the Chaire argent, inégalités et société, a joint initiative of INRS and the Chambre.

7. How can Anglophone members participate in the Annual General Meeting?

The Annual General Meeting of the Chambre de l’assurance is held in French, which is the organization’s language of work, governance, and operations.

We recognize that some Anglophone members may not be sufficiently proficient in French to fully follow the proceedings. To support their understanding, this English summary of the AGM has been made available to provide access to the key information presented.

8. Will logo lapel pins be available?

We are pleased to hear that you appreciate the new visual identity of the Chambre de l’assurance. Promotional items are currently being developed to increase visibility among members and the public, and we have taken note of the interest in lapel pins.

These items will be distributed to members over time, notably at events where the Chambre de l’assurance hosts a booth. We look forward to meeting you in person on those occasions and providing you with a promotional item that proudly reflects your affiliation.