1908 - A Mutual Beginning

The inaugural meeting of Saskatoon Fire Mutual Insurance Company is held, electing the first 13 member Board of Directors. Growing from the initial 32 farmers to 2,400 policyholders in the first year, Saskatoon Fire Mutual Insurance Company was providing coverage of almost $2.4 Million dollars.

1916 - Growth

Just eight years later, insurance coverage totaled close to $13 million for ten thousand farmers. As the company grew it was able to offer extended insurance coverage. By 1918, insurance coverage was available for damage by fire, lightning, prairie fire and windstorm to farm buildings, livestock and grain in storage bins.


To better reflect the change in the company’s scope, clientele and purpose, Saskatoon Fire Mutual Company changed its name to Saskatchewan Farmers Mutual Fire Insurance Company. Coverages continued to expand; rural schools and churches were added to the list of insurable properties.

1927 - 1939 - Expansion

Expansion into Alberta, British Columbia and Manitoba brought about policyholder diversification. To reflect the continued diversification, the name was changed to Saskatchewan Mutual Fire Insurance Company. By 1939, Saskatchewan Mutual Fire Insurance Company was the largest writer of private passenger car insurance in Western Canada.


As WWII surrounded the globe, policyholders could look to the company with confidence. Premium income reached an all-time high and there was a significant surplus of assets over liabilities. One of the company’s investments was the purchase of $200,000 in 1944 Victory Loans.


After receiving its Dominion Charter in 1950, enabling the company to write insurance policies anywhere in Canada, the company made its final name change becoming Saskatchewan Mutual Insurance Company.


The head office moved to its current location at 279 3rd Avenue North.


Saskatchewan Mutual Insurance Company adopts a new logo and becomes commonly known as SMI.


In commemoration of the company’s 100th Anniversary, SMI began partnering with qualifying brokers with the introduction of the Centennial Charitable Donation Program. Between 2008 and 2017, $500,000 was donated to local organizations across Saskatchewan, Alberta, and Manitoba.


SMI is still owned by its policyholders and celebrated 110 years in operation. The company has not lost sight of its primary objective set out in 1908 – to provide security and peace of mind. SMI continues to write habitational, farm and commercial products in Saskatchewan, Alberta and Manitoba and extension auto in Saskatchewan and Manitoba.