The Saskatchewan Auto Fund showed $937 million in gross premiums for the 2017-18 Fiscal Year. The fund is the compulsory auto insurance plan administered by SGI. In its Annual Report, The strong performance is attributed to, in part, investment earnings of $162.8 million. There was about $788 million in claims and another $33.6 million in storm claims. $144 million went to discounts to customers through SGIs Safe Driver Recognition and Business Recognition programs.
Another division of the Crown Corporation is SGI Canada. It sells property and casualty insurance from Ontario to BC. It showed a profit of $59.4 million. The company boasted 8.7 per cent premium growth, outperforming the industry average of about three percent. There was a 15.8 per cent return on equity after tax. There was about $803 million in premiums written and about $50 million in storm claims. $35.8 million in dividends was paid to Crown Investments Corporation.
SGI Outperforms Industry Average in Premium Growth
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The Candian government wants the country’s banks to identify, in customers’ bank statements when they receive the carbon rebate, that it is labelled as such.
Environment Minister Steven Guilbeault says the lack of a clear identifier is contributing to confusion about carbon price rebates, so he is going to change the law if he has to in order to force the big banks to identify the carbon rebate by name when doing direct deposits.
The first rebate deposits in 2022 were labelled very generically, which meant recipients had no idea why they were getting the money.
T-D and B-MO have adopted the government’s requested “CdaCarbonRebate” entry, R-B-C and Scotiabank say they couldn’t make the change in time for the rollout, and C-I-B-C is still calling it “Deposit Canada.”