Canadian Underwriter

Portions of Saskatchewan Government Insurance could be sold

May 4, 2017   by The Canadian Press

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REGINA – The Saskatchewan government has confirmed 11 private companies have expressed interest in buying a portion of Saskatchewan Government Insurance.

But Premier Brad Wall says meetings recently attended in Toronto by SGI Minister Joe Hargrave were not related to the future of the Crown-owned insurer.

Wall says the meetings were in Hargrave’s role as Crown Investments Corporation minister and are a regular occurrence for the government.

However, the NDP Opposition believes the Saskatchewan Party is laying the groundwork for a sell-off of the province’s Crown corporations.

NDP Leader Trent Wotherspoon says Wall is “ramming something forward for which he has no mandate.”

Last month, Saskatchewan passed legislation that would allow the sale of up to 49 per cent of a Crown corporation.

The new law comes as speculation swirls that the province is looking to sell a sizeable portion of SaskTel.

The government also confirmed that it has approved $3 million in what SGI president Andrew Cartmell calls “merit and short-term incentives” for SGI managers.


(CTV Regina)