A pair of catastrophic events didn’t impact Saskatchewan Government Insurance’s (SGI) yearly outcome.
Despite the challenges of a record-setting storm and the COVID-19 pandemic, SGI administrated Auto Fund, and SGI CANADA saw solid financial years.
The Saskatchewan Auto Fund remained financially strong, seeing $108.7 million through investments. That allowed SGI to issue another round of rebates to customers totalling over $89 million and continue to offer the lowest average basic auto insurance rates in Canada.
In 2021-2022, the auto fund saw over $926 million in total claims, partly due to a significant storm that resulted in the single biggest month of claims in the company’s recorded history.
In non-financial highlights, 2021 marked the third year in which Saskatchewan saw among the lowest traffic fatalities in recorded history.
SGI CANADA offers property and casualty insurance in the provinces of Saskatchewan, Alberta, Manitoba, Ontario and British Columbia.
In 2021-2022, SGI CANADA provided a $57.5 million dividend back to the province after seeing an $81.8 million net income.
Minister Responsible for SGI Don Morgan said even in times of uncertainty, SGI remains on track.
“Year-after-year, SGI delivers value to the people of Saskatchewan by offering affordable insurance, leading traffic safety initiatives and providing a dividend back to the province.”
