Outlook
The corporation remains committed to achieving its seven corporate goals. Actual results will be monitored and corrective actions taken when necessary to ensure that expected outcomes are realized.

Under The Crown Corporations Public Review and Accountability Act, Manitoba Public Insurance is required to submit Basic Autopac rates to the Public Utilities Board (PUB) for approval. The corporation generally files its rate application in June of each year for the insurance year beginning the following March.

On December 4, 2003 the PUB released its ruling on Manitoba Public Insurance’s rate application for the 2004/2005 insurance year. Effective March 1, 2004, Basic insurance rates will be increased by an average of 3.7 per cent. Although Basic insurance rates will change, the corporation will not alter any of the components of the Basic insurance plan.

Current projections indicate that the corporation is expected to realize a net income of $2.8 million during the 2004/05 fiscal year.