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.