Saskatchewan Government Insurance, Regina, issued an RFP for a consultant for the investment portfolios of its four insurance companies, with a combined C$2.5 billion (US$2.27 billion) in assets, and the group's C$34 million defined benefit plan.
The largest insurance company in the group, the Saskatchewan Auto Fund, has C$1.7 billion in investment assets split between a liability-driven investing strategy and a return-seeking portfolio of Canadian equities, U.S. equities, international equities, global small-cap equities, real estate and infrastructure, according to the RFP.
The pension plan and the other insurance firms — SGI Canada, SGI Canada Insurance Services and Coachman Insurance — have a combined C$800 million in hybrid balanced/specialist structure of short-term investments, short-term segregated bonds, pooled mortgages, Canadian equities, U.S. equities and international equities.
The RFP is available at SaskTenders, a provincial procurement website.
Proposals are due at 2 p.m. CDT May 8; interviews for finalists will be held no later than September. A date for selection has not been set.
The name of the current consultant, and if it may rebid, could not be learned by press time; Kelley Brinkworth, SGI spokeswoman, could not provide further details.