2022-23 SGI CANADA Annual Report
Management's Discussion and Analysis
The following management's discussion and analysis (MD&A) is the responsibility of management and reflects events
known to management to May 24, 2023. The Board of Directors carries out its responsibility for review of this disclosure
principally through its Audit, Finance and Conduct Review Committee, comprised exclusively of independent directors.
The Audit, Finance and Conduct Review Committee's mandate can be found on the Corporation's website at www.sgicanada.ca
The Board of Directors approved this MD&A at its meeting on May 25, 2023, after a recommendation to approve was put forth
by the Audit, Finance and Conduct Review Committee.
Overview
The MD&A is structured to provide users of SGI CANADA's financial statements with insight into SGI CANADA
(denoted as the "Corporation") and the industry in which it operates. This section contains discussion on its
strategies and its capability to execute the strategies, key performance drivers, financial capital, March 31, 2023
financial results, risk management and an outlook for 2023-24. Information contained in the MD&A should be read
in conjunction with the consolidated financial statements and the notes to the consolidated financial statements,
along with other sections in this annual report. All dollar amounts are in Canadian dollars. SGI CANADA's annual and
quarterly reports are available on its website at www.sgicanada.ca.
Caution Regarding Forward-Looking Statements
Forward-looking statements include, among others, statements regarding the Corporation's objectives, strategies
and capabilities to achieve them. Forward-looking statements are based on estimates and assumptions made by
the Corporation in light of its experience and perception of historical trends, current conditions and expected
future developments, as well as other factors it believes are appropriate in the circumstances. The Corporation
deems that the assumptions built into the forward-looking statements are plausible. However, all factors should
be considered carefully when making decisions with respect to the Corporation. Undue reliance should not be
placed on the Corporation's forward-looking statements, which only apply as of the date of this MD&A document.
The Corporation does not undertake to update any forward-looking statements that may be made from time to time
by or on its behalf.
The SGI CANADA Story
In 1944, the Government of Saskatchewan passed The Saskatchewan Government Insurance Act, creating the provincial
Crown corporation that is known today as SGI. It was created to rectify problems in the Saskatchewan insurance
industry. At that time, poor economic conditions had driven many insurers out of the province.
The Corporation's mandate, since its inception, has been to provide comprehensive, affordable insurance protection
to the people of Saskatchewan. In 1980, legislated changes to The Saskatchewan Government Insurance Act, 1980,
and The Automobile Accident Insurance Act distinguished between the compulsory vehicle insurance program for
the province (the Saskatchewan Auto Fund) and the competitive insurer offering additional property and casualty
products (SGI).
SGI CANADA is the trade name that the Corporation operates under to provide competitive property and casualty (P&C)
insurance products in Saskatchewan. P&C product offerings include policies for automobiles, homes, farms and
commercial enterprises. In addition, SGI CANADA, through its subsidiary SGI CANADA Insurance Services Ltd. (SCISL),
offers similar products in four other provinces across Canada (British Columbia, Alberta, Manitoba and Ontario), as well
as a small amount in Saskatchewan.
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