SGI anticipating small impacts from COVID, no rate increases
SGI is one of the few big Crown corporations in Saskatchewan not expecting to see a big impact from the COVID-19 pandemic on its bottom line.
The company tabled its annual report Thursday for the fiscal year ending March 31.
That report shows big losses in investments for both the Auto Fund and SGI Canada, which does business across the country.
When markets dropped because of the pandemic in March, the Auto Fund lost about $200 million, which SGI chief financial officer Jeff Stepan called a direct hit to the rate stabilization reserve.