Full report - SGI Canada

Table of contents
VISION
To be a company where every customer, employee, owner and business partner across Canada is
proud to do business and work with us.
VALUES
Integrity
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Leading by example and being accountable for our actions.
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Following through on commitments.
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Providing honest, timely feedback.
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Explaining why a decision is taken.
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Giving credit to those who contribute to our success.
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Providing information openly without breaching confidentiality.
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Maintaining the privacy of personal data.
Caring
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Acting in a manner that preserves the dignity of others.
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Valuing and actively supporting diversity.
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Acknowledging and validating the feelings of others.
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Actively seeking and listening to differing points of view.
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Responding to individual differences.
Innovation
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Seeking solutions that recognize individual circumstances.
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Challenging the status quo for positive change.
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Pursuing alternatives which lead to business improvements.
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Continuously working to revitalize products and services.
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Preparing for the needs of the future.
ABOUT SGI CANADA
SGI CANADA is fully competitive, selling property and casualty insurance products such as home,
farm, business and auto in seven Canadian provinces. It operates as SGI CANADA in Saskatchewan,
SGI CANADA Insurance Services Ltd. in Manitoba and Alberta, the Coachman Insurance Company
in Ontario and as a major partner in the Insurance Company of Prince Edward Island in Nova Scotia,
New Brunswick and Prince Edward Island.
Letter of transmittal. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3
Minister’s message. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4
Chair’s message . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5
President’s message . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6
We’re here for customers . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8
We’re here for brokers . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10
We’re here for the team . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12
We’re here to be good corporate citizens . . . . . . . . . . . . . . . . . . . . . . . . . . 14
Five-year review. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 18
Management’s discussion and analysis . . . . . . . . . . . . . . . . . . . . . . . . . . 19
Responsibility for financial statements. . . . . . . . . . . . . . . . . . . . . . . . . . . . 57
Annual Statement of Management Responsibility . . . . . . . . . . . . . . . . . . . . 58
Actuary’s report . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 59
Independent Auditors’ report . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 60
Consolidated Statement of Financial Position . . . . . . . . . . . . . . . . . . . . . . . 61
Consolidated Statement of Operations . . . . . . . . . . . . . . . . . . . . . . . . . . . 62
Consolidated Statement of Comprehensive Income . . . . . . . . . . . . . . . . . . . 63
Consolidated Statement of Changes in Province of Saskatchewan’s Equity . . . . . 64
Consolidated Statement of Cash Flows . . . . . . . . . . . . . . . . . . . . . . . . . . . 65
Notes to the consolidated financial statements . . . . . . . . . . . . . . . . . . . . . . 66
Corporate governance . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 97
Glossary of terms . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 105
Board of Directors and Vice-Presidents . . . . . . . . . . . . . . . . . . . . . . . . . . 107
In memoriam . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 108
Visit SGI CANADA at www.sgicanada.ca.