2022-23 SGI CANADA Annual Report
Insurance Risk
Underwriting risk
The Corporation manages insurance risk through underwriting and reinsurance strategies within an overall
strategic planning process. Pricing is based on assumptions with regards to past experiences and trends.
Exposures are managed by having documented underwriting limits and criteria, product and geographic
diversification and reinsurance.
Diversification
The Corporation writes property, liability and motor risks over a 12-month period. The most significant risks
arise from weather-related events, such as severe summer storms. The Corporation attempts to mitigate risk by
conducting business in a number of provinces across Canada and by offering different lines of insurance products.
The concentration of insurance risk by region and line of business is summarized below by reference to gross
premiums written:
(thousands of $)
March 31, 2023
Saskatchewan
Ontario
Alberta
Manitoba
British Columbia
Total
Automobile
Personal
property
Commercial
property
Liability
Total
$ 214,778 $ 384,320
$ 91,630 $ 48,826 $ 739,554
119,492
32,030
11,930
10,321
173,773
92,524
84,797
13,202
12,228
202,751
38,223
17,702
7,001
62,926
63,660
9,939
4,794
78,393
$ 426,794
$ 603,030
$ 144,403 $
83,170
$ 1,257,397
(thousands of $)
March 31, 2022
Automobile
Personal
property
Commercial
property
Liability
Total
Saskatchewan
$ 196,742
$ 351,510
$ 82,798 $ 44,829 $ 675,879
Ontario
91,684
28,794
10,045
8,421
138,944
Alberta
Manitoba
British Columbia
Total
$ 383,040 $ 551,170 $ 132,895 $
94,614
76,450
13,353
11,866
196,283
34,459
17,289
6,644
58,392
59,957
9,410
3,865
73,232
75,625
$ 1,142,730
64 2022-23 SGI CANADA Annual ReportView entire presentation