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"All I've wanted since we won in 2020 was to be back here hoisting that cup again," said Justin Ball.
SGI’s annual report shows another solid year but the Crown is looking to the future.
It wants to expand its commercial competitive side, what’s known as SGI Canada, and it is seeking partnerships to do it.
According to SGI, high-level, preliminary discussions are underway with 16 different companies to form a possible partnership that could make SGI Canada more competitive. That would allow them to offer products and services they don’t have access to now.
“There’s a strong sense in our industry that in order to survive long term the idea of having partners that excel in areas you don’t but create synergies for the entities is a positive thing,” said Andrew Cartmell, president and CEO of SGI.
SGI Canada operates in five provinces, including Saskatchewan. It is one of the few insurance companies that don’t have partnerships.
“There are things that SGI Canada does not specialize in that other companies do that might provide additional quality insurance for the customers that we serve,” SGI Minister Joe Hargrave explained. “It would be about strengthening SGI and continuing to strengthen the bottom line of SGI.”
Hargrave said he has not personally been involved in the talks but confirmed they are in the very early stages.
“They are not to the point where we would exchange information or do anything like that.”
The annual report released Thursday showed a $65.2 million profit, which resulted in a $43 million dividend.
On the auto fund side, completely separate from SGI Canada, the rate stabilization fund, which cushions Saskatchewan drivers, ended the fiscal year with a balance of $565.9 million.
There were discounts for safe drivers of $134.7 million, with storm claims of $26.7 million.