Saskatchewan Government Insurance records $84.5M profit in 2015-16

REGINA – Saskatchewan Government Insurance says it had a profit of $84.5 million last year despite flooding and forest fires.

The Crown insurer says both sides of its operations saw strong results.

The Saskatchewan Auto Fund handles the province’s compulsory public coverage for drivers, while SGI Canada deals with property and home insurance

Don McMorris, minister responsible for SGI, says profitability in 2015-16 was due to favourable underwriting results and investment earnings.

McMorris also says SGI Canada achieved growth in the five provinces where it operates, despite economic downturns in Alberta and Saskatchewan.

SGI says there were a relatively low number of damage and injury claims, and a mild winter and recent traffic safety initiatives helped.

Some 121 fatalities were the lowest number in quite some time, the insurer said.

SGI Canada is the competitive arm of SGI and sells property and casualty insurance in Saskatchewan, Alberta, Manitoba, Ontario and British Columbia.

(CTV Regina)