Profile

GRI 2-1, 2-2 and 2-6

Who
We Are






Grupo Peña Verde is the only Mexican conglomerate dedicated to comprehensive risk management (from origin to final placement), with General de Seguros, General de Salud and Reaseguradora Patria as the companies through which most of the Group’s activities are carried out.

In this regard, in order to promote business development, consolidate solid Corporate Governance and take advantage of the synergies and economies of scale inherent to our business portfolio, the entire operation is under the umbrella of a corporate entity, whose trade name is Peña Verde and corporate name is Peña Verde S.A.B. (a Mexican stock corporation, with indefinite duration, listed on the Mexican Stock Exchange since 2012, under the ticker symbol PV).

Our corporate offices of Reaseguradora Patria and Peña Verde are located at Periférico Sur 2771, Col. San Jerónimo Lídice, Alcaldía La Magdalena Contreras, Zip Code 10200, Mexico City and telephone number 5683-4900. Our General de Seguros corporate offices are located at Avenida Patriotismo #266, Col. San Pedro de los Pinos, Zip Code 03800, Mexico City. We also have more than 22 commercial offices to provide the highest quality service to our customers, under the cultural framework: the customer, my priority.

- Our Purpose -

TO BE PRESENT for people and organizations in every moment where risk wants to win over security by being the sustainable reference in whom to trust in order to find the peace of mind they need, and thus be able to continue developing, evolving and manifesting each of their projects with awareness, freedom and responsibility.

- Our Mission-

We lead a portfolio of businesses and projects in the field of comprehensive risk management.

- Our Vision -

We maximize the value of our Group, more than doubling our profitable, diversified and sustainable growth by responding to our customers with personalized and flexible experiences, being relevant in the market.


OUR VALUES



The following values constitute the fundamental framework within which Grupo Peña Verde’s strategy is built and implemented:

We act in accordance with the ethical principles of Grupo Peña Verde, fulfilling our commitments to all our stakeholders.

We believe in what we do and look to the future with optimism and confidence.

We understand our work as a series of challenges that allow us to measure our achievements and grow.

We know that talent is the result of a constant effort to keep ourselves updated and competitive, and that knowledge is the result of tenacity, discipline in execution and the ability to team up through effective communication.

We foster relationships based on trust, openness and consideration of people's dignity, which leads us to recognize and accept diversity.





Business
Divisions






Grupo Peña Verde is comprised of the four business divisions shown below:



The Insurance and Reinsurance Divisions consolidate risk management activities; the Business Support and Transformation Division (SET) aims to optimize the Group’s operations in terms of efficiency and costs through technological and cultural transformation. Finally, the Asset Management and Financial Strategy Division (GAEF) consolidates the efficient management of the Group’s capital in a single area.

The SET Division together with the GAEF Division are integrated into Peña Verde Administrative Services, a subsidiary that seeks to consolidate an organizational culture that promotes participation and innovation in Grupo Peña Verde, thus strengthening competitiveness through all business divisions.

In summary, the Group maintains two valuegenerating strands: on the one hand, our operations generate investable cash flows and an operating margin; and on the other hand, our investment portfolios contribute to the achievement of higher profit margins, while helping to diversify risk.




INSURANCE



General de Seguros

A Mexican company with more than 50 years of experience in the Mexican insurance market, during which time it has offered a wide variety of products that provide its clients with life, auto, and damage protection, in the agricultural sector (standing out as one of the few insurance companies that offer this coverage) and, through General de Salud, in the health and medical expenses sectors. Additionally, General de Seguros is authorized to operate insurance for credit and reinsurance.

In its important journey within the insurance market, General de Seguros has endorsed a timely and efficient service, which has allowed it to be ranked #33 in the Mexican insurance market by the end of 2022, considering the amount of premiums written.








General de Salud





100% Mexican insurance company, a subsidiary of General de Seguros, with an outstanding track record of more than 15 years offering health insurance.

General de Salud attends to personal needs and those of SMEs through group plans, providing from primary coverage (consultations and prevention) to comprehensive coverage (ancillary services, hospitalization, maternity, dental, etc.).



Centro de Contacto
de Servicios de
Salud (CCSS)



CCSS – Peña Verde, S.A. de C.V., a company specialized in telephone medical orientation (OMT for its acronym in Spanish), channels the more than 1.4 million policyholders of General de Seguros and General de Salud, from public and private institutions to the appropriate level of medical attention, with the objective of promoting greater efficiency and a better health service.

- In 2023, it has expanded its range of services to include the monitoring of chronic degenerative diseases and remote assistance. -



- During 2022 we attended -




REINSURANCE



Reaseguradora
Patria

Reaseguradora Patria is the oldest reinsurance company in Latin America, a region in which it has a strong presence and where it has increasingly extended its overseas operations; since 1953 it has been an active participant in the industry, offering comprehensive risk management services, as well as personalized follow-up on economic, technical and administrative issues.

Reaseguradora Patria considers insurers, surety companies and reinsurance brokers as its main business partners.

Regarding the Lloyd’s reinsurance market (SPA), during 2022 Grupo Peña Verde continued with the gradual closure of its syndicate, achieving the RITC (reinsurance to close), an important step towards the completion of this process.







Technology plan:



BUSINESS SUPPORT AND TRANSFORMATION DIVISION (SET)



This division concentrates the efforts made to achieve the Group’s development through the transformation projects that are carried out in terms of technology and culture, while verifying the correct compliance with regulations, laws and risk levels. This development focuses on:







Continuously streamline and standardize the operation in terms of cost and time.




Maintaining high flexibility to support future growth.




Integrating new technological solutions.







Stabilize technological investment in accordance with market standards for innovation projects.


Promote a culture of innovation and flexibility that allows decision making focused on individual and collective results.




Moving towards a culture of accountability.




ASSET MANAGEMENT AND FINANCIAL STRATEGY DIVISION (GAEF)



This division was conceived to manage the investment portfolio, Corporate Finance, Administration and Finance, and Procurement. In this way, the Group concentrates in a single area the administration and efficient use of capital, with the objective of obtaining superior yields than those of the market through an optimal capital structure.


Some of the benefits of consolidating this area are:




Cost reduction.



Efficient financial and strategic communication.


Standardization of processes without losing the knowledge and attention to the needs of each division.



- External Affiliations and Initiatives -


Through General de Seguros y Reaseguradora Patria, we participate in:

  • Mexican Association of Insurance Institutions (AMIS for its Spanish acronym)
  • Mexican Association of Guarantee Institutions (AMIG for its Spanish acronym)
  • The Global Federation of Insurance Associations (GFIA)
  • Inter-American Federation of Insurance Companies (FIDES for its Spanish acronym)
  • The Institute of International Finance
  • Pan-American Surety Association
  • Insurtech Alliance

Our regulatory bodies are:

  • Mexican Central Bank (Banxico)
  • Mexican Stock Exchange (BMV for its Spanish acronym)
  • National Insurance and Surety Commission (Mexico)
  • National Banking and Securities Commission (Mexico)

In pursuit of best business practices and driving our efficiency, we have a relationship with:

  • United Nations Global Compact
  • Great Place to Work (certified since 2015)
  • Mexican Business Coordinating Council (CCE for its Spanish acronym)
  • Insurtech Alliance

We are also in the process of implementing the following standards:

  • ISO 27001 Information Security Management Systems: The security team is in the process of implementing it and is analyzing the possibility of conducting a precertification process during the second half of 2023.
  • Additionally, in order to adhere to best practices, Grupo Peña Verde uses the NIST (National Institute of Standards and Technology) framework for the implementation of cybersecurity controls.
  • Grupo Peña Verde uses ADKAR (Awareness, Desire, Knowledge, Ability and Reinforcement) to facilitate change processes in information security.
  • ISO 31000 Risk Management: During 2022 Grupo Peña Verde implemented a new methodology for measuring and quantifying its operational risks based on this ISO; this is expected to strengthen the visibility and monitoring of indicators that help mitigate and manage the operational risks of the institutions that make up the Group.
  • NOM 035* (aimed at detecting psychosocial risks within an organization, mandatory for all Mexican companies).
  • In addition, we use the ADKAR methodology for the adoption of changes, mainly in the area of information security.

*With the exception of NOM 035, all initiatives are voluntary and non-binding


Our
Journey