Manitoba Public Insurance (MPI) continues to act with fiscal prudence and responsibility to
deliver value, protect affordability and maintain the trust of Manitobans in the face of persistent
economic uncertainty and rising costs. In its 2024 Annual Report, released today, the Corporation
reports a net loss of $19.7 million for the year ended March 31, 2025, as compared to a net loss of
$129.5 million in 2023/24.
“While our work is focused on serving the people of Manitoba, we also have to respond to the
world around us,” said Carmen Nedohin, MPI’s Board Chair. “Like many organizations, MPI
continues to face the effects of rising claim costs, global tariffs and the potential impact on the
auto industry, inflationary pressures, and shifting political dynamics. We have remained focused
and pragmatic in the face of this volatility. Through careful financial stewardship, that saw an
increase in earnings over the previous year, and proactive risk management, we have taken
meaningful steps to safeguard MPI and protect the investments of Manitobans.”
The total number of Autopac claims in 2024/25 rose by 2.1 per cent compared to the previous
year. MPI’s total claims costs for the year were $1.2 billion, and the Corporation continues to put
strategies in place to reduce cost pressures within its control.
Further in 2024/25, MPI reported a net loss of $39.6 million in its Basic insurance line of business,
an improvement over the net loss of $80.2 million the previous year. MPI’s Extension line of
business reported net income of $53.7 million in 2024/25, an improvement of $35.6 million over
the previous year. The Special Risk Extension (SRE) line of business reported a net loss of
$4.1 million as compared to a net loss of $54.2 million for the same period in the prior year.
MPI’s Capital Management Plan continues to protect Manitobans by ensuring MPI is properly
capitalized for each line of business, based on results from a Minimum Capital Test (MCT). The
Manitoba Public Insurance Basic MCT was 107 per cent, Extension MCT was 200 per cent, and
SRE MCT was 226 per cent – a significant improvement over the previous year as the Corporation
continues to implement changes to reduce its exposure to large losses.
“Fiscal prudence continues to be the order of the day,” said Nedohin. “Our goal is to provide the
best service to Manitobans at an affordable cost, and we need to make the dollars and cents work.
Our executive team is dedicated to this goal and are supported by the hard work and dedication of
all MPI employees in serving Manitobans.”
Additionally, MPI’s Drivers and Vehicles Act (DVA) line of business reported a net loss of
$29.7 million for the fiscal year ended March 31, 2025, as compared to a net loss of $13.2 million
reported for the previous fiscal year.
2024/25 Key MPI Numbers
- Average number of Autopac claims reported to MPI per working day: 1,121
- Total Autopac claims reported: 280,300
- Third party-liability, bodily injury and PIPP injury claims reported: 12,977
- Property damage claims reported: 267,323
- Average number of Autopac policies in force: 1,308,362
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For more information, please contact:
Manitoba Public Insurance
Media Relations Unit
204-985-7300
[email protected]