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