When the Bill to establish SGIC was introduced into the South Australian Parliament, Premier Don Dunstan declared that SGIC's role was to help keep premiums at reasonable levels, ensure by competition that adequate service was given and make funds available for investment in semi governmental loans important to the development of the State.
The first premium income for SGIC came from insuring the motor vehicle fleet of the South Australian Government $155,026.
SGIC moved to new premises on 24 April 1981 at 211 Victoria Square, Adelaide.
In moving from a totally state based insurer to being under the umbrella of the NRMA who then changed to the 'Insurance Australia Group meant the assessing resources from South Australia were sent interstate on many occasions to assist when natural disasters hit.
Sydney Hailstorm, Cyclone Larry, Newcastle Floods, Victorian Bushfires 2009, Melbourne and Perth Storm 2010 were all events to which assessing assistance was sent from South Australia.