Saskatchewan taxpayers are paying for SGI to enter "fiercely competitive" Alberta insurance market. What could possibly go wrong?
Saskatchewan Government Insurance Canada has received $21 million in cash from the province to help it break into the "fiercely competitive" Alberta insurance market, the provincially owned company says.
SGI has also received another $4 million to spend on its existing Coachman venture in Ontario. The money comes from the Crown Investments Corp.
In a recently released quarterly report, the SGI said the $25-million capital injection will allow SGI to meet its growth targets for out-of-province operations and spread its risk geographically.
6 comments:
Oh my...
Perhaps it will become legal for other auto insurers to sell their products in SK now. Given the NDP record of economic hypocrisy, I will not hold my breath.
I live in Alberta, and there is absolutely no way I'll sign-up with SGI. What happens if the ND's get thrown out next election and the new Saskatchewan government decides not to subsidise my insurance?
Does anyone else see the irony of the Sask. government using their crown corporation to sell in a free market Province? I mean, what's next, the Sask. gov't liquor stores competing to sell booze in Alberta?
Free enterprise in it's finest socialistic form. "I can compete on your turf but you better stay the hell off mine."
funny, with Alberta 'gong show' of an insurance industry you'd think Ralphy--drunken stupor or not, was doing a good thing for Albert-oinians.. ??
But whatever, if you want the private industry to continue gouging the 'little guy' in Alberta, then all the power to you!! Enjoy paying $1500.00/yr for a 10 year old car... but hey, the beef sure is cheap though!
Post a Comment