Mergers & AcquisitionsMedium•1 October 2026•
1 min read
Everest Group Completes Sale of Canadian Insurance Arm to Wawanesa
Key Facts
1Everest Group has completed the sale of its Canadian Retail Insurance operations to The Wawanesa Mutual Insurance Company.
2The acquisition adds $305 million in annual commercial lines premiums to Wawanesa's portfolio.
Everest Group has completed the sale of its Canadian Retail Insurance operations to The Wawanesa Mutual Insurance Company. Reinsurance News reported that the acquisition adds $305 million in annual commercial lines premiums to Wawanesa's portfolio, representing an approximate 30% increase in its current volume.
The divestment is part of Everest's strategic repositioning to focus on its core Reinsurance and Global Wholesale and Specialty Insurance businesses. In the broader Canadian market, wholesale sales fell by 1.5% on September 25, 2026, highlighting the shifting commercial landscape as Everest finalized its exit from the retail space.