2022-23 SGI CANADA Annual Report

The following tables show the development of the estimated net provision for unpaid claims relative to the current estimate of ultimate claims costs for the 10 most recent accident years as estimated at each reporting date. (thousands of $) Accident year Net ultimate loss 2013 2014 2015 2016 2017 2018 2019 2020 2021 Jan 1, 2022- Mar 31, 2023 At end of accident year One year later 282,681 295,363 326,329 $ 293,023 $ 314,683 $ 345,276 $ 365,571 $ 438,198 $ 466,312 $ 496,422 $ 479,021 $ 662,797 $ 769,559 346,922 433,188 462,429 488,439 467,011 534,854 Two years later 274,536 Three years later Four years later 272,049 270,925 289,673 287,339 286,092 321,180 336,138 317,749 339,332 424,961 420,107 318,542 335,356 419,517 455,301 483,387 454,121 483,806 457,135 472,095 Five years later 271,522 Six years later 283,417 318,763 334,542 424,054 270,769 282,055 318,346 334,981 Seven years later Eight years later Nine years later Cumulative loss development Cumulative loss development as a % of original ultimate loss 270,313 270,166 270,454 282,447 319,764 283,383 $ (22,569) $ (31,300) $ (25,512) $ (30,590) $ (14,144) $ (9,177) $ (12,616) $ (6,926) $ (127,943) n/a (7.7%) (9.9%) (7.4%) (8.4%) (3.2%) (2.0%) (2.5%) (1.4%) (19.3%) n/a The Corporation has a March 31 fiscal year end, however actuarial valuations are performed using a January 1 December 31 accident year. As such, the shaded net ultimate losses are as at December 31 and the non-shaded net ultimate losses are as at March 31. (thousands of $) Accident year Current estimate 2013 2014 2015 2016 2017 2018 2019 2020 2021 Jan 1, 2022- Mar 31, 2023 Total of net ultimate loss Cumulative paid $ 270,454 $ 283,383 $319,764 $ 334,981 $ 424,054 $ 457,135 $ 483,806 $ 472,095 $ 534,854 $ 769,559 $4,350,085 (267,377) (275,801) (311,826) (329,039) (413,020) (430,754) (441,694) (423,610) (438,743) (415,560) (3,747,424) Net provision for unpaid claims $ 3,077 $ 7,582 $ 7,938 $ 5,942 $ 11,034 $ 26,381 $ 42,112 $ 48,485 $ 96,111 $ 353,999 602,661 Net undiscounted claims outstanding for accident years 2012 and prior Internal reinsurance to subsidiaries Provision for adverse deviation and discounting Loss adjusting expense reserve Subrogation recoveries Unpaid Facility Association claims Assumed reinsurance Health levies Other reconciling items Net provision for unpaid claims 48,721 9,779 9,736 26,758 40,131 17,501 845 732 7,440 $ 764,304 2022-23 SGI CANADA Annual Report 67

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