Despite a near-record number of storm claims in 2010, both SGI CANADA and the Saskatchewan Auto Fund remain financially solid.
SGI released its financial and operational highlights when the 2010 annual reports for SGI CANADA and the Saskatchewan Auto Fund were tabled in the Legislative Assembly today.
SGI CANADA is the competitive arm of SGI, selling property and casualty insurance in seven provinces.
"Despite the incredible amount of storm activity in 2010, a solid reinsurance program, lucrative investment returns and growth in out-of-province operations enabled SGI CANADA to continue to be profitable this year," Minister responsible for SGI Tim McMillan said.
SGI CANADA highlights for 2010 include:
Near-record storm claims totalling $61.5 million.
Consolidated net profit of $48.4 million.
Out-of-province operations provided $5.1 million of the consolidated net profit.
Paid a dividend of $43.5 million to Crown Investments Corporation.
The complete SGI CANADA annual report can be found at www.sgicanada.ca.
