When it comes to financial stability, SGI is right where it needs to be. That's according to the 2018-2019 financial and operational highlights for both the Saskatchewan Auto Fund and SGI Canada, which was tabled in the provincial legislature yesterday.

The Saskatchewan Auto Fund is the self-sustaining, compulsory auto insurance plan administered by SGI on behalf of the province. As part of its mandate, the Auto Fund also works towards making Saskatchewan's roads safer for everyone who uses them.

"Saskatchewan residents now enjoy, on average, the lowest overall personal vehicle insurance rates in Canada," Minister responsible for SGI Joe Hargrave said. "Our government and the Auto Fund remain committed to a continued focus on traffic safety, and a number of initiatives implemented over the past year will make Saskatchewan's roads safer for everyone who uses them."

SGI Canada is the competitive side of SGI's operations, selling property and casualty insurance in Saskatchewan, Alberta, Manitoba, Ontario, and British Columbia. in 2018-2019, SGI Canada continued to be in a stable financial position, which was the result of progress on long term goals of growth and geographic diversification.

"I'm very proud of how this Saskatchewan based company continues to earn profits and achieve growth in an industry where it competes with many national and international insurers," Hargrave said. 

Here are some highlights from the meeting.

Auto Fund Highlights

  • 894.9 million in claims 
  • 956.5 million in gross premium written
  • 149.1 million in discounts to customers through the Safe Driver Recognition Programs 
  • 26.2 million net storm claims 135.8 million in investment earnings 

SGI Canada Highlights

  • 48 million profit, with a return on equity of 9.8% pre-tax 
  • 12.5 million divided to Crown Investments Corporation
  • 53.4 million in investment earnings
  • 919.4 million in premiums written more than 940,000 customers across Canada