2022-23 SGI CANADA Annual Report slide image

2022-23 SGI CANADA Annual Report

22. Select Operating Information The Corporation provides property and casualty insurance directly in Saskatchewan, and through its subsidiaries, SCISL operating in Saskatchewan, Alberta, Manitoba, Ontario and British Columbia, and Coachman operating in Ontario. The performance of each subsidiary is reported separately to the Corporation's Board of Directors. The product offerings vary across the jurisdictions, but all products offered are considered property and casualty insurance. (thousands of $) March 31, 2023 Saskatchewan SCISL Coachman Consolidation adjustments Total Net premiums written $ 686,446 $ 450,075 $ 34,748 $ $ 1,171,269 Net premiums earned $ 665,744 $ 439,121 $ 28,358 $ $ 1,133,223 Net claims incurred 385,385 295,046 20,761 701,192 Other expenses 258,856 186,258 11,644 456,758 Underwriting income (loss) 21,503 (42,183) (4,047) (24,727) Net investment earnings and other revenue 22,379 18,347 2,042 42,768 Income (loss) before income taxes 43,882 (23,836) (2,005) 18,041 Income tax recovery (5,910) (496) (6,406) Net income (loss) $ 43,882 $ (17,926) $ (1,509) $ $ 24,447 Total assets $ 1,398,550 $ 971,210 $ 130,369 $ (377,751) $ 2,122,378 Total liabilities $ 844,523 $ 686,327 $ Shareholder's equity $ 554,027 $ 284,883 $ 81,148 $ 49,221 $ (43,647) $ 1,568,351 (334,104) $ 554,027 (thousands of $) March 31, 2022 Consolidation Saskatchewan SCISL Coachman adjustments Total Net premiums written $ Net premiums earned $ 629,110 $ 606,847 $ 417,736 $ 23,286 $ $ 1,070,132 406,553 $ 23,093 $ $ 1,036,493 Net claims incurred 333,562 250,709 10,118 594,389 Other expenses 221,224 160,606 8,148 389,978 Underwriting income (loss) 52,061 (4,762) 4,827 52,126 Net investment earnings and other income 20,733 10,109 1,613 32,455 Income before income taxes 72,794 5,347 6,440 84,581 Income tax expense 1,188 1,621 2,809 Net income $ 72,794 $ 4,159 $ Total assets $ 1,327,262 $ Total liabilities $ 797,939 $ Shareholder's equity $ 529,323 $ 917,471 $ 613,151 $ 304,320 $ 4,819 $ 133,395 $ 82,665 $ 50,730 $ $ 81,772 (395,204) $ 1,982,924 (40,154) $ (355,050) $ 1,453,601 529,323 2022-23 SGI CANADA Annual Report 81
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