Everest to sell Canadian retail insurance operations to Wawanesa
On March 23, 2026, Everest Group, Ltd. (“Everest”) announced that it signed a definitive agreement to sell its Canadian retail insurance operations, Everest Insurance Company of Canada (“Everest Canada”), to The Wawanesa Mutual Insurance Company (“Wawanesa”).
The transaction is part of Everest’s strategic repositioning and is in line with its previously announced plan to exit its commercial retail insurance operations, following the 2025 sale of its global retail commercial insurance renewal rights to AIG.
The transaction is anticipated to close in the second half of 2026, subject to customary regulatory approvals and closing conditions.
Further information can be found on Business Wire’s website.
Everest is a global underwriting leader providing best-in-class property, casualty, and specialty reinsurance and insurance solutions that address customers’ most pressing challenges.
Wawanesa is one of Canada’s largest mutual insurers, with over CAD$4 billion in annual revenue and assets of CAD$11.5 billion. It is the parent company of Wawanesa Life, which provides life insurance products and services throughout Canada, and Western Financial Group, which distributes personal and business insurance across Canada.