SGI Canada entering British Columbia P&C market

SGI Canada has received a licence allowing it to compete in British Columbia’s property and casualty insurance market, with plans to begin operation there in summer 2015, it announced Tuesday.

“B.C. is a province with strong growth potential and, with SGI Canada’s experience writing insurance for the mining and oil and gas industries, moving further west is a good fit,” Andrew Cartmell, SGI’s president and CEO commented in the announcement.

“This move also allows us to further spread our risk, meaning losses due to events like catastrophic storms in one region are offset by profits in other regions. This benefits customers in all regions by assisting with rate stability.”

SGI has been building its business outside of Saskatchewan and said has experienced profit and growth in Alberta, Manitoba and Ontario.

“We’re excited to add B.C. to the mix and look forward to providing customers and the brokers we partner with, with the same high level of service we strive to provide in all provinces where we operate,” Cartmell added.