Canadian Underwriter

SGI to Enter B.C. Property & Casualty Market

October 9, 2014  

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SGI Canada will push westward next year, entering British Columbia’s property and casualty market, the insurer announced yesterday.

“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,” said Andrew Cartmell, SGI Canada’s president and CEO.

“This move 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.”

Read: SGI Reviewing Auto Injury Program

SGI says this is the same thinking behind its expansion in other provinces, including Alberta and Ontario, where it says it “has a proven track record of success.”

SGI Canada plans to begin operating in B.C. in summer 2015.

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This story was originally published by Canadian Insurance Top Broker.