As we come to the end of 2025, which marks my first as President and CEO, there is much to look back at and reflect on.
While 2025 was not a "normal" year of operations on many fronts, the resilience, dedication, and perseverance demonstrated by WSC stood out as defining qualities.
The year commenced with a higher incidence of claims activity than typical for WSC, and the surety industry overall has been marked by a higher frequency of claims over the past 2 years. Overall economic impacts of trade policies, inflation, labour shortages, and the disruption of distribution channels including tariffs will continue to present challenges for the construction community. Despite the challenges of 2025, WSC has a 116-year history of conservative and predictable underwriting processes, and we will continue to underwrite in this manner and reaffirm the success of this philosophy.
By far the most positive development in 2025 was the acquisition of SGI Canada's surety portfolio in October. SGI and WSC have long been connected as SGI got into the surety business via the NDP and Tommy Douglas' hostile takeover of the Hill's surety company in 1949, then called Saskatchewan Guarantee and Fidelity Company. The Provincial government's move set the wheels in motion that would create WSC as a national enterprise and expand beyond the borders of Saskatchewan. To date we have onboarded over 200 new brokerages to WSC and continue the efficient integration of the portfolio.
There were also several developments on the employee front in 2025. Promotions were earned in Toronto by Peter Lewin (Regional Manager), Michael Chiarantano and Jared Dolson (Senior Underwriter). James van Dijk (Vice President) assumed leadership of the Ontario operations in September bringing significant experience to WSC.
In Regina, Nolan Flavel and Melody Penny also commenced their careers at WSC with both having several years of surety experience. In support of the SGI acquisition, an additional 3 underwriting positions have been filled and look for further announcements in 2026 on our new hires. Lastly, Neil Penner, current Chief Risk Officer, will formally conclude his tenure at WSC at the end of the year and we thank him for 48 years of service to the company!
In closing, I would like to express my sincerest thanks to our staff, broker, reinsurance, and other partners for your support of WSC in 2025. On behalf of the entire WSC staff, our Directors, and ownership, we wish you and your families a Merry Christmas and a Happy and prosperous New Year!
Greg Salmon,
President and CEO
WSC's annual tradition includes having WSC employees select our annual Christmas charity donation. For 2025, Jennifer Love from our Halifax office was selected and chose Hope for Wildlife in Nova Scotia.
Head Office
2100-1881 Scarth Street
Regina, SK Canada S4P 4K9
