2022-23 SGI CANADA Annual Report
Consolidated Statement of Operations
For the years ended March 31
Gross premiums written
Premiums ceded to reinsurers
Net premiums written
Change in net unearned premiums (note 12)
Net premiums earned
Gross claims incurred
Ceded claims incurred
Net claims incurred (note 10)
Commissions
Administrative expenses
Premium taxes
Total claims and expenses
Underwriting (loss) income
Net investment earnings (note 14)
Other Income
Income before income taxes
Income tax (recovery) expense (note 15)
Net income
Other comprehensive income
(thousands of $)
2023
2022
$
1,257,397 $
1,142,730
(86,128)
(72,598)
1,171,269
1,070,132
(38,046)
(33,639)
1,133,223
1,036,493
721,934
648,508
(20,742)
(54,119)
701,192
594,389
237,203
225,673
166,092
115,922
53,463
48,383
1,157,950
984,367
(24,727)
52,126
42,476
32,316
292
139
18,041
84,581
(6,406)
2,809
24,447
81,772
257
486
Comprehensive income
$
24,704
$
82,258
The accompanying notes are an integral part of these consolidated financial statements.
36 2022-23 SGI CANADA Annual ReportView entire presentation